Sivik Global Healthcare LLC Reduces Stock Position in Intuitive Surgical, Inc. $ISRG

Key Points

• Sivik Global Healthcare LLC reduced its stock position in Intuitive Surgical, Inc. by 7.1%, now owning 13,000 shares valued at approximately $7.06 million, making it the firm's 12th largest holding.
• Despite some institutional investors reducing their stakes, others like Vanguard Group and Wellington Management increased their holdings in Intuitive Surgical, indicating mixed sentiment among investors.
• Intuitive Surgical reported strong quarterly earnings, with an EPS of $2.19 surpassing estimates, and revenue growth of 21.4% year-over-year, further fueling interest from analysts and investors.

Sivik Global Healthcare LLC lowered its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 7.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,000 shares of the medical equipment provider's stock after selling 1,000 shares during the period. Intuitive Surgical comprises about 1.9% of Sivik Global Healthcare LLC's investment portfolio, making the stock its 12th biggest holding. Sivik Global Healthcare LLC's holdings in Intuitive Surgical were worth $7,064,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Intuitive Surgical by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 32,665,531 shares of the medical equipment provider's stock worth $16,178,258,000 after purchasing an additional 453,335 shares in the last quarter. Invesco Ltd. raised its holdings in Intuitive Surgical by 1.7% in the 1st quarter. Invesco Ltd. now owns 4,219,974 shares of the medical equipment provider's stock worth $2,090,027,000 after purchasing an additional 71,794 shares in the last quarter. Northern Trust Corp raised its holdings in Intuitive Surgical by 0.3% in the 1st quarter. Northern Trust Corp now owns 3,631,281 shares of the medical equipment provider's stock worth $1,798,465,000 after purchasing an additional 11,988 shares in the last quarter. Wellington Management Group LLP raised its holdings in Intuitive Surgical by 15.0% in the 1st quarter. Wellington Management Group LLP now owns 3,499,052 shares of the medical equipment provider's stock worth $1,732,975,000 after purchasing an additional 457,080 shares in the last quarter. Finally, Nuveen LLC bought a new position in Intuitive Surgical in the 1st quarter worth $1,715,899,000. Hedge funds and other institutional investors own 83.64% of the company's stock.

Intuitive Surgical Stock Performance

NASDAQ:ISRG opened at $429.59 on Friday. The firm has a market cap of $154.00 billion, a P/E ratio of 59.91, a P/E/G ratio of 4.51 and a beta of 1.61. Intuitive Surgical, Inc. has a fifty-two week low of $425.00 and a fifty-two week high of $616.00. The firm has a 50-day simple moving average of $458.68 and a two-hundred day simple moving average of $497.91.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.93 by $0.26. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.35 billion. Intuitive Surgical had a net margin of 28.51% and a return on equity of 14.56%. Intuitive Surgical's revenue was up 21.4% compared to the same quarter last year. During the same period last year, the business earned $1.78 EPS. On average, equities research analysts predict that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

Analyst Upgrades and Downgrades

ISRG has been the subject of several research reports. Wall Street Zen upgraded shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a report on Saturday, October 4th. The Goldman Sachs Group decreased their price objective on shares of Intuitive Surgical from $621.00 to $567.00 and set a "buy" rating for the company in a report on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Intuitive Surgical in a research note on Friday, August 22nd. Weiss Ratings reiterated a "hold (c+)" rating on shares of Intuitive Surgical in a research note on Wednesday. Finally, BTIG Research reiterated a "buy" rating and issued a $571.00 price target on shares of Intuitive Surgical in a research note on Wednesday, October 1st. Fourteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $589.43.

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, Director Amy L. Ladd sold 335 shares of the firm's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $440.69, for a total transaction of $147,631.15. Following the completion of the sale, the director directly owned 739 shares in the company, valued at approximately $325,669.91. This trade represents a 31.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gary S. Guthart sold 29,360 shares of the firm's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $472.49, for a total transaction of $13,872,306.40. Following the sale, the insider owned 19,827 shares of the company's stock, valued at approximately $9,368,059.23. This represents a 59.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,224 shares of company stock worth $21,716,492. 0.70% of the stock is owned by corporate insiders.

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.

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