Wellington Management Group LLP Buys 457,080 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Wellington Management Group LLP increased its stake in Intuitive Surgical, acquiring an additional 457,080 shares, raising its total ownership to over 3.4 million shares valued at approximately $1.73 billion.
• Intuitive Surgical reported a net margin of 28.51% and a 21.4% year-over-year revenue increase, with quarterly earnings per share reaching $2.19, exceeding analyst estimates.
• Insiders have recently sold significant amounts of stock, with EVP Myriam Curet reducing her ownership by 92.73%, raising concerns about insider sentiment towards the company's future.

Wellington Management Group LLP lifted its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 15.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,499,052 shares of the medical equipment provider's stock after buying an additional 457,080 shares during the quarter. Wellington Management Group LLP owned about 0.98% of Intuitive Surgical worth $1,732,975,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Parvin Asset Management LLC purchased a new position in shares of Intuitive Surgical during the fourth quarter valued at about $26,000. Chilton Capital Management LLC lifted its stake in shares of Intuitive Surgical by 614.3% in the first quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock worth $25,000 after buying an additional 43 shares in the last quarter. Global Financial Private Client LLC lifted its stake in shares of Intuitive Surgical by 253.3% in the first quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider's stock worth $26,000 after buying an additional 38 shares in the last quarter. Elite Financial Inc. bought a new position in shares of Intuitive Surgical in the first quarter worth approximately $26,000. Finally, LFA Lugano Financial Advisors SA bought a new position in shares of Intuitive Surgical in the first quarter worth approximately $30,000. Hedge funds and other institutional investors own 83.64% of the company's stock.

Intuitive Surgical Trading Up 0.3%

ISRG stock traded up $1.25 during midday trading on Wednesday, reaching $480.45. 1,409,146 shares of the company's stock traded hands, compared to its average volume of 2,142,699. Intuitive Surgical, Inc. has a 52-week low of $425.00 and a 52-week high of $616.00. The stock has a market cap of $172.23 billion, a P/E ratio of 67.01, a PEG ratio of 5.02 and a beta of 1.59. The stock's 50-day moving average is $506.00 and its 200 day moving average is $523.53.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.35 billion. Intuitive Surgical had a net margin of 28.51% and a return on equity of 14.56%. The company'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 company posted $1.78 earnings per share. As a group, research analysts expect that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ISRG. Evercore ISI upped their target price on shares of Intuitive Surgical from $470.00 to $550.00 and gave the stock an "in-line" rating in a research note on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft downgraded shares of Intuitive Surgical from a "hold" rating to a "sell" rating and dropped their target price for the stock from $515.00 to $440.00 in a research note on Monday, June 9th. Citigroup reiterated a "buy" rating and issued a $650.00 target price (up previously from $590.00) on shares of Intuitive Surgical in a research note on Thursday, May 22nd. Erste Group Bank reissued a "hold" rating on shares of Intuitive Surgical in a report on Wednesday, July 23rd. Finally, Piper Sandler reissued an "overweight" rating and set a $595.00 price objective (up from $575.00) on shares of Intuitive Surgical in a report on Wednesday, July 23rd. Thirteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Intuitive Surgical presently has an average rating of "Moderate Buy" and a consensus price target of $595.95.

Insider Transactions at Intuitive Surgical

In other news, SVP Mark Brosius sold 216 shares of the stock in a transaction 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 sale, the senior vice president directly owned 907 shares of the company's stock, valued at $510,740.77. This represents a 19.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Myriam Curet sold 4,500 shares of the stock in a transaction on 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 sale, the executive vice president directly owned 353 shares of the company's stock, valued at approximately $173,845.44. This trade represents a 92.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,839 shares of company stock valued at $7,896,972 over the last three months. Corporate insiders own 0.70% of the company's stock.

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.