Rafferty Asset Management LLC Sells 6,089 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Rafferty Asset Management LLC has decreased its holdings in Intuitive Surgical by 9.4%, resulting in ownership of 58,806 shares valued at approximately $29.1 million.
• Several institutional investors, including AlphaCore Capital and Colonial Trust Co SC, have increased their stakes in Intuitive Surgical, indicating ongoing interest in the company despite Rafferty's sell-off.
• Intuitive Surgical recently reported strong quarterly earnings, with revenue of $2.44 billion, surpassing analysts' expectations, and a significant year-over-year revenue growth of 21.4%.

Rafferty Asset Management LLC trimmed its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 9.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,806 shares of the medical equipment provider's stock after selling 6,089 shares during the quarter. Rafferty Asset Management LLC's holdings in Intuitive Surgical were worth $29,125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Chilton Capital Management LLC lifted its stake in shares of Intuitive Surgical by 614.3% in the 1st quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock valued at $25,000 after purchasing an additional 43 shares during the period. Parvin Asset Management LLC acquired a new stake in Intuitive Surgical during the fourth quarter worth approximately $26,000. Global Financial Private Client LLC increased its holdings in Intuitive Surgical by 253.3% in the first quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider's stock worth $26,000 after purchasing an additional 38 shares in the last quarter. Elite Financial Inc. acquired a new position in Intuitive Surgical in the first quarter valued at approximately $26,000. Finally, LFA Lugano Financial Advisors SA bought a new position in shares of Intuitive Surgical during the 1st quarter worth approximately $30,000. Institutional investors and hedge funds own 83.64% of the company's stock.

Wall Street Analysts Forecast Growth

ISRG has been the subject of several research analyst reports. UBS Group lifted their price objective on shares of Intuitive Surgical from $547.00 to $585.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Zacks Research cut shares of Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 20th. Erste Group Bank reaffirmed a "hold" rating on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. Royal Bank Of Canada reissued an "outperform" rating and set a $615.00 price objective on shares of Intuitive Surgical in a research report on Tuesday, August 19th. Finally, Wall Street Zen upgraded Intuitive Surgical from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Thirteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $595.95.

Insider Activity

In other Intuitive Surgical news, EVP Myriam Curet sold 4,500 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $492.48, for a total value of $2,216,160.00. Following the completion of the sale, the executive vice president owned 353 shares in the company, valued at approximately $173,845.44. This trade represents a 92.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Mark Brosius sold 216 shares of Intuitive Surgical stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $563.11, for a total transaction of $121,631.76. Following the transaction, the senior vice president directly owned 907 shares in the company, valued at approximately $510,740.77. This represents a 19.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,839 shares of company stock worth $7,896,972 over the last quarter. Insiders own 0.70% of the company's stock.

Intuitive Surgical Stock Performance

Shares of Intuitive Surgical stock traded up $2.69 on Thursday, hitting $473.84. The company had a trading volume of 1,548,672 shares, compared to its average volume of 1,988,124. Intuitive Surgical, Inc. has a 1 year low of $425.00 and a 1 year high of $616.00. The stock has a 50 day moving average of $501.17 and a 200-day moving average of $518.82. The stock has a market capitalization of $169.86 billion, a price-to-earnings ratio of 66.09, a P/E/G ratio of 4.94 and a beta of 1.59.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.26. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.35 billion. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%.Intuitive Surgical's revenue was up 21.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.78 earnings per share. Equities analysts anticipate that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Intuitive Surgical Company Profile

Intuitive Surgical, Inc develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally. The company offers the da Vinci Surgical System that enables complex surgery using a minimally invasive approach; and Ion endoluminal system, which extends its commercial offerings beyond surgery into diagnostic procedures enabling minimally invasive biopsies in the lung.