Clare Market Investments LLC Buys New Position in Intuitive Surgical, Inc. $ISRG

Clare Market Investments LLC bought a new stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 5,550 shares of the medical equipment provider’s stock, valued at approximately $2,558,000.

Several other hedge funds have also made changes to their positions in ISRG. Draper Asset Management LLC raised its holdings in Intuitive Surgical by 41.9% in the fourth quarter. Draper Asset Management LLC now owns 5,029 shares of the medical equipment provider’s stock valued at $2,848,000 after acquiring an additional 1,485 shares in the last quarter. Deutsche Bank AG grew its holdings in Intuitive Surgical by 9.6% during the 4th quarter. Deutsche Bank AG now owns 1,522,191 shares of the medical equipment provider’s stock worth $862,108,000 after acquiring an additional 132,966 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in Intuitive Surgical by 29.3% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 71,077 shares of the medical equipment provider’s stock worth $40,255,000 after acquiring an additional 16,119 shares in the last quarter. Procyon Advisors LLC increased its position in shares of Intuitive Surgical by 787.8% in the 4th quarter. Procyon Advisors LLC now owns 4,794 shares of the medical equipment provider’s stock valued at $2,715,000 after purchasing an additional 4,254 shares during the last quarter. Finally, Robinhood Asset Management LLC acquired a new stake in shares of Intuitive Surgical in the 4th quarter valued at $6,478,000. Institutional investors and hedge funds own 83.64% of the company’s stock.

Analyst Ratings Changes

ISRG has been the subject of several recent analyst reports. TD Cowen decreased their price objective on shares of Intuitive Surgical from $660.00 to $585.00 and set a “buy” rating for the company in a research report on Wednesday, April 22nd. Truist Financial cut their price target on Intuitive Surgical from $650.00 to $580.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Deutsche Bank Aktiengesellschaft decreased their price target on Intuitive Surgical from $440.00 to $366.00 and set a “sell” rating for the company in a report on Tuesday, June 2nd. Zacks Research cut Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Finally, Bank of America dropped their price objective on Intuitive Surgical from $520.00 to $515.00 in a report on Friday, June 12th. Nineteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Intuitive Surgical presently has a consensus rating of “Moderate Buy” and a consensus price target of $571.33.

Intuitive Surgical Price Performance

Shares of NASDAQ:ISRG opened at $440.20 on Tuesday. Intuitive Surgical, Inc. has a 12 month low of $396.68 and a 12 month high of $603.88. The firm has a market capitalization of $155.90 billion, a P/E ratio of 53.33, a P/E/G ratio of 3.47 and a beta of 1.46. The company’s fifty day moving average price is $427.27 and its 200 day moving average price is $479.06.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the prior year, the firm posted $1.81 earnings per share. Intuitive Surgical’s revenue for the quarter was up 23.0% on a year-over-year basis. On average, sell-side analysts anticipate that Intuitive Surgical, Inc. will post 8.57 EPS for the current year.

Insider Buying and Selling

In other Intuitive Surgical news, EVP Gary Loeb sold 400 shares of Intuitive Surgical stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total transaction of $169,656.00. Following the transaction, the executive vice president owned 5,720 shares of the company’s stock, valued at $2,426,080.80. The trade was a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 500 shares of the business’s stock in a transaction that occurred on 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 owned 239 shares of the company’s stock, valued at approximately $113,156.94. This represents a 67.66% decrease in their position. 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 in the last quarter. 0.60% of the stock is owned by 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.