Seek First Inc. Makes New $705,000 Investment in Intuitive Surgical, Inc. $ISRG

Key Points

• Seek First Inc. acquired 1,424 shares of Intuitive Surgical, Inc., worth approximately $705,000, making it the 25th largest holding in their portfolio.
• Several hedge funds have increased their positions in Intuitive Surgical, indicating growing institutional interest in the company.
• Analysts have raised target prices for Intuitive Surgical, with a consensus target of $595.95 and a rating of "Moderate Buy," reflecting optimistic market sentiment.

Seek First Inc. acquired a new stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,424 shares of the medical equipment provider's stock, valued at approximately $705,000. Intuitive Surgical comprises about 0.6% of Seek First Inc.'s investment portfolio, making the stock its 25th biggest position.

Several other large investors also recently modified their holdings of ISRG. 17 Capital Partners LLC raised its position in shares of Intuitive Surgical by 2.2% in the 1st quarter. 17 Capital Partners LLC now owns 1,891 shares of the medical equipment provider's stock worth $937,000 after acquiring an additional 40 shares in the last quarter. Algert Global LLC grew its stake in Intuitive Surgical by 48.1% during the first quarter. Algert Global LLC now owns 12,926 shares of the medical equipment provider's stock worth $6,402,000 after purchasing an additional 4,199 shares during the period. Corient IA LLC bought a new stake in Intuitive Surgical in the first quarter worth approximately $1,511,000. George Kaiser Family Foundation acquired a new position in Intuitive Surgical in the first quarter valued at approximately $270,000. Finally, Northwest & Ethical Investments L.P. boosted its holdings in shares of Intuitive Surgical by 6.6% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 16,977 shares of the medical equipment provider's stock worth $8,406,000 after buying an additional 1,053 shares in the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Intuitive Surgical Price Performance

Shares of NASDAQ ISRG traded up $1.25 during trading on Wednesday, reaching $480.45. 1,409,146 shares of the stock traded hands, compared to its average volume of 1,989,028. The company has a 50-day moving average of $506.84 and a 200-day moving average of $523.82. Intuitive Surgical, Inc. has a 52-week low of $425.00 and a 52-week high of $616.00. The stock has a market capitalization of $172.23 billion, a P/E ratio of 67.01, a price-to-earnings-growth ratio of 5.04 and a beta of 1.59.

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

Insider Activity at Intuitive Surgical

In other Intuitive Surgical news, SVP Mark Brosius sold 216 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $563.11, for a total value of $121,631.76. Following the completion of the transaction, the senior vice president owned 907 shares of the company's stock, valued at $510,740.77. The trade was a 19.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gary S. Guthart sold 2,800 shares of the firm's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $495.24, for a total transaction of $1,386,672.00. Following the sale, the insider owned 18,520 shares in the company, valued at approximately $9,171,844.80. This trade represents a 13.13% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,839 shares of company stock valued at $7,896,972. Company insiders own 0.70% of the company's stock.

Analyst Upgrades and Downgrades

ISRG has been the subject of several research analyst reports. Citigroup reiterated a "buy" rating and issued a $650.00 price objective (up previously from $590.00) on shares of Intuitive Surgical in a research note on Thursday, May 22nd. Royal Bank Of Canada reiterated an "outperform" rating and set a $615.00 price objective on shares of Intuitive Surgical in a report on Tuesday. Erste Group Bank reissued a "hold" rating on shares of Intuitive Surgical in a research report on Wednesday, July 23rd. BTIG Research boosted their target price on Intuitive Surgical from $566.00 to $571.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Finally, Barclays lowered their price objective on shares of Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Thirteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Intuitive Surgical has a consensus rating of "Moderate Buy" and an average target price of $595.95.

About Intuitive Surgical

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.