Sapient Capital LLC Has $1.05 Million Position in Intuitive Surgical, Inc. $ISRG

Key Points

• Sapient Capital LLC cut its Intuitive Surgical stake by 90.1% in the second quarter, selling 24,104 shares and retaining 2,648 shares valued at approximately $1.05 million.
• Intuitive Surgical reported quarterly revenue of $2.89 billion and earnings of $2.80 per share, exceeding analyst estimates; revenue increased 18.4% year over year.
• Despite the stake reduction and recent insider selling, analysts maintain a “Moderate Buy” consensus, with 20 Buy ratings, eight Holds, one Sell, and an average price target of $509.02.

Sapient Capital LLC cut its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 90.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,648 shares of the medical equipment provider's stock after selling 24,104 shares during the period. Sapient Capital LLC's holdings in Intuitive Surgical were worth $1,053,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Intuitive Surgical during the fourth quarter worth $2,856,987,000. J. Stern & Co. LLP boosted its position in Intuitive Surgical by 18,504.6% during the fourth quarter. J. Stern & Co. LLP now owns 2,127,248 shares of the medical equipment provider's stock valued at $1,204,788,000 after acquiring an additional 2,115,814 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Intuitive Surgical by 1,043.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,342,121 shares of the medical equipment provider's stock valued at $760,124,000 after purchasing an additional 1,224,734 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Intuitive Surgical by 95.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,105,544 shares of the medical equipment provider's stock valued at $970,635,000 after buying an additional 1,027,475 shares during the period. Finally, Polen Capital Management LLC bought a new position in Intuitive Surgical during the fourth quarter worth $477,225,000. Institutional investors own 83.64% of the company's stock.

Intuitive Surgical Stock Performance

NASDAQ:ISRG opened at $393.38 on Tuesday. Intuitive Surgical, Inc. has a 52 week low of $328.57 and a 52 week high of $603.88. The firm has a 50-day moving average price of $392.49 and a two-hundred day moving average price of $444.21. The firm has a market cap of $138.97 billion, a price-to-earnings ratio of 45.06, a price-to-earnings-growth ratio of 2.74 and a beta of 1.47.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its earnings results on Thursday, July 16th. The medical equipment provider reported $2.80 earnings per share for the quarter, topping analysts' consensus estimates of $2.48 by $0.32. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.83 billion. Intuitive Surgical had a return on equity of 16.91% and a net margin of 28.45%.The company's revenue was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.81 EPS. As a group, sell-side analysts forecast that Intuitive Surgical, Inc. will post 8.87 earnings per share for the current year.

Wall Street Analyst Weigh In

ISRG has been the subject of a number of research analyst reports. Royal Bank Of Canada decreased their target price on Intuitive Surgical from $650.00 to $600.00 and set an "outperform" rating for the company in a research report on Monday, July 13th. Wall Street Zen raised Intuitive Surgical from a "hold" rating to a "buy" rating in a research note on Saturday, June 13th. Raymond James Financial restated an "outperform" rating and set a $483.00 price objective (down from $577.00) on shares of Intuitive Surgical in a report on Friday, July 17th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Intuitive Surgical in a research report on Monday, July 20th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Intuitive Surgical in a research report on Tuesday, May 19th. Twenty investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $509.02.

Insiders Place Their Bets

In other Intuitive Surgical news, EVP Gary Loeb sold 400 shares of the business's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $379.00, for a total value of $151,600.00. Following the transaction, the executive vice president owned 5,320 shares of the company's stock, valued at approximately $2,016,280. The trade was a 6.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Iman Jeddi sold 5,625 shares of the company's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $420.55, for a total value of $2,365,593.75. Following the completion of the transaction, the senior vice president owned 6,463 shares of the company's stock, valued at $2,718,014.65. This trade represents a 46.53% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,634 shares of company stock worth $2,769,615 over the last quarter. 0.60% of the stock is currently owned by corporate insiders.

About Intuitive Surgical

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon's hand movements into finer, scaled motions of small instruments inside the patient. Intuitive's business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source