Strategic Advisors LLC Lowers Holdings in Intuitive Surgical, Inc. $ISRG

Key Points

• Strategic Advisors LLC cut its Intuitive Surgical holdings by 60.3% in the second quarter, selling 6,372 shares and retaining 4,188 shares valued at approximately $1.665 million. Institutional investors collectively own 83.64% of the company.
• Intuitive Surgical reported quarterly EPS of $2.80, exceeding the $2.48 consensus estimate, while revenue rose 18.4% year over year to $2.89 billion.
• Despite the stock opening at $372.60—well below its 12-month high of $603.88—analysts maintained a “Moderate Buy” consensus, with an average price target of $508.68.

Strategic Advisors LLC trimmed its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 60.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,188 shares of the medical equipment provider's stock after selling 6,372 shares during the quarter. Strategic Advisors LLC's holdings in Intuitive Surgical were worth $1,665,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ISRG. Main Street Group LTD bought a new position in shares of Intuitive Surgical during the first quarter worth $30,000. Compass Financial Management LLC bought a new stake in Intuitive Surgical in the 2nd quarter valued at $30,000. Vermillion Wealth Management Inc. increased its holdings in Intuitive Surgical by 58.1% in the 1st quarter. Vermillion Wealth Management Inc. now owns 68 shares of the medical equipment provider's stock valued at $31,000 after acquiring an additional 25 shares during the last quarter. Motiv8 Investments LLC purchased a new stake in Intuitive Surgical in the 4th quarter worth $34,000. Finally, Evergreen Advisors LLC bought a new position in shares of Intuitive Surgical during the 1st quarter valued at about $35,000. 83.64% of the stock is owned by hedge funds and other institutional investors.

Intuitive Surgical Stock Performance

ISRG opened at $372.60 on Monday. The firm has a market cap of $131.63 billion, a P/E ratio of 42.68, a P/E/G ratio of 2.69 and a beta of 1.47. Intuitive Surgical, Inc. has a 12 month low of $328.57 and a 12 month high of $603.88. The stock has a 50-day moving average of $384.60 and a 200 day moving average of $432.33.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued its quarterly earnings data on Thursday, July 16th. The medical equipment provider reported $2.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.48 by $0.32. The business 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 quarterly revenue was up 18.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.81 earnings per share. On average, research analysts forecast that Intuitive Surgical, Inc. will post 8.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ISRG. Evercore set a $430.00 target price on Intuitive Surgical in a report on Monday, July 6th. Royal Bank Of Canada reduced their price objective on Intuitive Surgical from $650.00 to $600.00 and set an "outperform" rating on the stock in a research note on Monday, July 13th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $487.00 price objective (down from $654.00) on shares of Intuitive Surgical in a report on Friday, July 17th. Bank of America lowered their target price on Intuitive Surgical from $520.00 to $515.00 in a research report on Friday, June 12th. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of Intuitive Surgical in a report on Wednesday, August 12th. Twenty-two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $508.68.

Insider Buying and Selling

In other news, Director Amy L. Ladd sold 400 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $379.00, for a total value of $151,600.00. Following the sale, the director owned 251 shares of the company's stock, valued at approximately $95,129. This represents a 61.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president directly owned 5,320 shares of the company's stock, valued at $2,016,280. This represents a 6.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 11,658 shares of company stock worth $4,649,835. 0.60% of the stock is owned by company insiders.

Intuitive Surgical Profile

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.

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