Williams & Novak LLC Acquires New Position in Intuitive Surgical, Inc. $ISRG

Key Points

• Williams & Novak LLC acquired a new stake in Intuitive Surgical, purchasing 917 shares valued at approximately $498,000 during the 2nd quarter, indicating interest from institutional investors in the company.
• Analysts have set a new average price target of $589.43 for Intuitive Surgical, with several firms, including Goldman Sachs, adjusting their price targets and ratings on the stock.
• Intuitive Surgical's stock has decreased by 3.2%, with the company's shares trading at around $429.59 after recently reported earnings that surpassed analysts' expectations.

Williams & Novak LLC acquired a new stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 917 shares of the medical equipment provider's stock, valued at approximately $498,000.

Other large investors have also bought and sold shares of the company. Chilton Capital Management LLC lifted its holdings in Intuitive Surgical by 614.3% in the first 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 period. Elite Financial Inc. acquired a new position in Intuitive Surgical in the first quarter valued at approximately $26,000. LFA Lugano Financial Advisors SA acquired a new position in Intuitive Surgical in the first quarter valued at approximately $30,000. TD Capital Management LLC raised its holdings in Intuitive Surgical by 300.0% in the first quarter. TD Capital Management LLC now owns 60 shares of the medical equipment provider's stock worth $30,000 after purchasing an additional 45 shares during the period. Finally, 1248 Management LLC acquired a new stake in Intuitive Surgical in the first quarter worth $30,000. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on ISRG. The Goldman Sachs Group cut their target price on shares of Intuitive Surgical from $621.00 to $567.00 and set a "buy" rating on the stock in a report on Wednesday, October 1st. Wall Street Zen upgraded shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a report on Saturday, October 4th. Wells Fargo & Company increased their target price on shares of Intuitive Surgical from $559.00 to $599.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Erste Group Bank reiterated a "hold" rating on shares of Intuitive Surgical in a report on Wednesday, July 23rd. Finally, UBS Group increased their target price on shares of Intuitive Surgical from $547.00 to $585.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Fourteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Intuitive Surgical has an average rating of "Moderate Buy" and an average price target of $589.43.

Insider Activity at Intuitive Surgical

In related news, insider Gary S. Guthart sold 29,360 shares of the firm's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $472.49, for a total value of $13,872,306.40. Following the completion of the transaction, the insider owned 19,827 shares of the company's stock, valued at approximately $9,368,059.23. This trade represents a 59.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Amy L. Ladd sold 336 shares of the firm's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $470.11, for a total transaction of $157,956.96. Following the completion of the transaction, the director directly owned 1,074 shares of the company's stock, valued at approximately $504,898.14. This trade represents a 23.83% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,224 shares of company stock valued at $21,716,492. Corporate insiders own 0.70% of the company's stock.

Intuitive Surgical Stock Down 3.2%

Shares of NASDAQ:ISRG opened at $429.59 on Friday. Intuitive Surgical, Inc. has a 12 month low of $425.00 and a 12 month high of $616.00. The company's fifty day simple moving average is $458.68 and its 200 day simple moving average is $497.98. The firm has a market cap of $154.00 billion, a price-to-earnings ratio of 59.91, a PEG ratio of 4.66 and a beta of 1.61.

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

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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