Intuitive Surgical, Inc. $ISRG Shares Purchased by Voleon Capital Management LP

Key Points

• Voleon Capital Management LP increased its stake in Intuitive Surgical by 61.7%, now owning 16,635 shares valued at approximately $8.24 million.
• Intuitive Surgical reported a net revenue of $2.44 billion for the last quarter, exceeding expectations and indicating a 21.4% year-over-year increase in revenue.
• Institutional investors hold 83.64% of Intuitive Surgical's stock, signifying strong confidence in the company's performance.

Voleon Capital Management LP boosted its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 61.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,635 shares of the medical equipment provider's stock after buying an additional 6,350 shares during the quarter. Voleon Capital Management LP's holdings in Intuitive Surgical were worth $8,239,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Ashton Thomas Private Wealth LLC raised its position in Intuitive Surgical by 17.2% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 2,626 shares of the medical equipment provider's stock worth $1,301,000 after buying an additional 385 shares during the last quarter. Kestra Investment Management LLC grew its stake in shares of Intuitive Surgical by 164.7% during the 1st quarter. Kestra Investment Management LLC now owns 1,207 shares of the medical equipment provider's stock worth $598,000 after purchasing an additional 751 shares during the period. UniSuper Management Pty Ltd increased its holdings in shares of Intuitive Surgical by 40.3% during the 1st quarter. UniSuper Management Pty Ltd now owns 83,268 shares of the medical equipment provider's stock valued at $41,240,000 after purchasing an additional 23,914 shares in the last quarter. Scientech Research LLC increased its holdings in shares of Intuitive Surgical by 105.1% during the 1st quarter. Scientech Research LLC now owns 5,238 shares of the medical equipment provider's stock valued at $2,594,000 after purchasing an additional 2,684 shares in the last quarter. Finally, Rise Advisors LLC increased its holdings in shares of Intuitive Surgical by 5.6% during the 1st quarter. Rise Advisors LLC now owns 378 shares of the medical equipment provider's stock valued at $187,000 after purchasing an additional 20 shares in the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Myriam Curet sold 4,500 shares of the business's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $492.48, for a total transaction of $2,216,160.00. Following the completion of the transaction, the executive vice president directly owned 353 shares of the company's stock, valued at approximately $173,845.44. The trade was a 92.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Gary S. Guthart sold 29,360 shares of the business's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $472.49, for a total value of $13,872,306.40. Following the transaction, the insider directly 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. Insiders have sold 45,224 shares of company stock worth $21,716,492 over the last three months. Company insiders own 0.70% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ISRG shares. Truist Financial lifted their target price on shares of Intuitive Surgical from $590.00 to $600.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Wells Fargo & Company lifted their price target on shares of Intuitive Surgical from $559.00 to $599.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Evercore ISI lifted their price target on shares of Intuitive Surgical from $470.00 to $550.00 and gave the company an "in-line" rating in a research note on Tuesday, July 8th. Zacks Research cut shares of Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 20th. Finally, BTIG Research lifted their target price on shares of Intuitive Surgical from $566.00 to $571.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Thirteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $595.95.

Intuitive Surgical Trading Down 1.4%

ISRG traded down $6.17 on Friday, hitting $449.68. The company had a trading volume of 1,996,942 shares, compared to its average volume of 2,020,026. The firm has a market cap of $161.20 billion, a P/E ratio of 62.72, a PEG ratio of 4.72 and a beta of 1.61. Intuitive Surgical, Inc. has a 1 year low of $425.00 and a 1 year high of $616.00. The company's fifty day moving average price is $487.55 and its 200 day moving average price is $509.57.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.93 by $0.26. The company had revenue of $2.44 billion for 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%. The business's revenue for the quarter was up 21.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.78 earnings per share. On average, analysts predict that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Intuitive Surgical 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.