Connective Capital Management LLC Has $13.25 Million Stake in Intuitive Surgical, Inc. $ISRG

Connective Capital Management LLC raised its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 6.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,392 shares of the medical equipment provider’s stock after buying an additional 1,463 shares during the period. Intuitive Surgical comprises approximately 7.8% of Connective Capital Management LLC’s portfolio, making the stock its 3rd largest position. Connective Capital Management LLC’s holdings in Intuitive Surgical were worth $13,248,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ISRG. Draper Asset Management LLC increased its stake in Intuitive Surgical by 41.9% in the 4th quarter. Draper Asset Management LLC now owns 5,029 shares of the medical equipment provider’s stock worth $2,848,000 after purchasing an additional 1,485 shares during the period. Deutsche Bank AG boosted its stake in shares of Intuitive Surgical by 9.6% during the fourth quarter. Deutsche Bank AG now owns 1,522,191 shares of the medical equipment provider’s stock valued at $862,108,000 after purchasing an additional 132,966 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in shares of Intuitive Surgical by 29.3% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 71,077 shares of the medical equipment provider’s stock worth $40,255,000 after purchasing an additional 16,119 shares during the last quarter. Procyon Advisors LLC grew its holdings in shares of Intuitive Surgical by 787.8% in the fourth quarter. Procyon Advisors LLC now owns 4,794 shares of the medical equipment provider’s stock worth $2,715,000 after purchasing an additional 4,254 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its stake in shares of Intuitive Surgical by 22.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 11,463 shares of the medical equipment provider’s stock worth $5,127,000 after buying an additional 2,102 shares during the period. 83.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ISRG shares. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Intuitive Surgical from $440.00 to $366.00 and set a “sell” rating for the company in a report on Tuesday, June 2nd. UBS Group lowered their price objective on shares of Intuitive Surgical from $570.00 to $550.00 and set a “neutral” rating for the company in a research note on Tuesday, March 17th. Truist Financial dropped their target price on shares of Intuitive Surgical from $650.00 to $580.00 and set a “buy” rating for the company in a report on Wednesday, April 15th. BTIG Research reissued a “buy” rating and issued a $574.00 target price on shares of Intuitive Surgical in a research note on Wednesday, April 22nd. Finally, Citigroup upgraded Intuitive Surgical from a “neutral” rating to a “buy” rating and set a $590.00 price target on the stock in a report on Wednesday, March 11th. Nineteen equities research 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’s stock. Based on data from MarketBeat.com, Intuitive Surgical presently has a consensus rating of “Moderate Buy” and a consensus target price of $573.42.

Intuitive Surgical Stock Up 1.1%

NASDAQ:ISRG opened at $406.78 on Friday. The firm’s fifty day simple moving average is $439.54 and its 200 day simple moving average is $491.05. The stock has a market cap of $144.07 billion, a P/E ratio of 49.31, a price-to-earnings-growth ratio of 3.27 and a beta of 1.46. Intuitive Surgical, Inc. has a twelve month low of $396.68 and a twelve month high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 EPS for the quarter, topping the consensus estimate of $2.08 by $0.42. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same period in the prior year, the business earned $1.81 EPS. The company’s revenue for the quarter was up 23.0% on a year-over-year basis. On average, analysts expect that Intuitive Surgical, Inc. will post 8.57 EPS for the current fiscal year.

Insider Activity at Intuitive Surgical

In other Intuitive Surgical news, Director Amy L. Ladd sold 500 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $473.46, for a total value of $236,730.00. Following the completion of the sale, the director directly owned 239 shares in the company, valued at $113,156.94. This trade represents a 67.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Iman Jeddi sold 5,625 shares of Intuitive Surgical stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $420.55, for a total value of $2,365,593.75. Following the sale, the senior vice president directly owned 6,463 shares in the company, valued at approximately $2,718,014.65. The trade was a 46.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 7,169 shares of company stock worth $3,059,135 over the last 90 days. 0.60% of the stock is owned by company insiders.

About Intuitive Surgical

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.