Strategic Advocates LLC Lowers Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Key Points

• Strategic Advocates LLC reduced its stake in Intuitive Surgical, Inc. by 11.6%, bringing its total shares to 6,888 with a value of $3,411,000.
• Insider transactions included sales from two executives, with SVP Mark Brosius selling 216 shares and CEO Gary S. Guthart selling 7,893 shares, indicating a significant decrease in their personal holdings.
• Analysts have set mixed price targets for the stock, with a consensus average target price of $592.05 and a rating of "Moderate Buy."

Strategic Advocates LLC trimmed its position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 11.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,888 shares of the medical equipment provider's stock after selling 905 shares during the period. Intuitive Surgical makes up about 1.2% of Strategic Advocates LLC's holdings, making the stock its 17th biggest position. Strategic Advocates LLC's holdings in Intuitive Surgical were worth $3,411,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ISRG. Chilton Capital Management LLC grew its position in 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 buying an additional 43 shares during the last quarter. Parvin Asset Management LLC purchased a new stake in shares of Intuitive Surgical during the 4th quarter worth $26,000. Global Financial Private Client LLC boosted its position in shares of Intuitive Surgical by 253.3% during the 1st 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. purchased a new stake in shares of Intuitive Surgical during the 1st quarter worth $26,000. Finally, Hurley Capital LLC purchased a new stake in shares of Intuitive Surgical during the 4th quarter worth $28,000. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Intuitive Surgical

In other news, SVP Mark Brosius sold 216 shares of the company's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $563.11, for a total transaction 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. This represents a 19.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Gary S. Guthart sold 7,893 shares of the company's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $498.64, for a total transaction of $3,935,765.52. Following the transaction, the insider directly owned 13,187 shares of the company's stock, valued at approximately $6,575,565.68. This represents a 37.44% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,903 shares of company stock valued at $7,932,778. 0.70% of the stock is owned by insiders.

Intuitive Surgical Trading Down 3.9%

Shares of ISRG stock opened at $481.09 on Friday. The firm has a 50-day moving average price of $525.14 and a 200 day moving average price of $533.73. Intuitive Surgical, Inc. has a twelve month low of $425.00 and a twelve month high of $616.00. The company has a market capitalization of $172.46 billion, a price-to-earnings ratio of 67.10, a PEG ratio of 5.25 and a beta of 1.64.

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

Analysts Set New Price Targets

Several brokerages have commented on ISRG. Wells Fargo & Company boosted their target price on shares of Intuitive Surgical from $559.00 to $599.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. BTIG Research boosted their target price on shares of Intuitive Surgical from $566.00 to $571.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Citigroup restated a "buy" rating and set a $650.00 target price (up from $590.00) on shares of Intuitive Surgical in a research report on Thursday, May 22nd. Piper Sandler restated an "overweight" rating and set a $595.00 target price (up from $575.00) on shares of Intuitive Surgical in a research report on Wednesday, July 23rd. Finally, Barclays decreased their target price on shares of Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $592.05.

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.

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