D.A. Davidson & CO. Purchases 3,317 Shares of Intuitive Surgical, Inc. $ISRG

D.A. Davidson & CO. raised its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 21.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,942 shares of the medical equipment provider’s stock after buying an additional 3,317 shares during the period. D.A. Davidson & CO.’s holdings in Intuitive Surgical were worth $8,732,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ISRG. Navigation Group LLC acquired a new position in shares of Intuitive Surgical during the 1st quarter worth approximately $607,000. Twin Capital Management Inc. boosted its stake in shares of Intuitive Surgical by 1.3% in the first quarter. Twin Capital Management Inc. now owns 3,679 shares of the medical equipment provider’s stock valued at $1,696,000 after buying an additional 49 shares during the period. Illinois Municipal Retirement Fund grew its position in Intuitive Surgical by 58.8% during the first quarter. Illinois Municipal Retirement Fund now owns 10,488 shares of the medical equipment provider’s stock worth $4,835,000 after buying an additional 3,885 shares in the last quarter. Three Seasons Wealth LLC increased its stake in Intuitive Surgical by 49.2% during the 1st quarter. Three Seasons Wealth LLC now owns 1,604 shares of the medical equipment provider’s stock worth $739,000 after acquiring an additional 529 shares during the period. Finally, Journey Advisory Group LLC increased its stake in Intuitive Surgical by 38.1% during the 1st quarter. Journey Advisory Group LLC now owns 1,896 shares of the medical equipment provider’s stock worth $874,000 after acquiring an additional 523 shares during the period. 83.64% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Iman Jeddi sold 5,625 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $420.55, for a total transaction of $2,365,593.75. Following the sale, the senior vice president owned 6,463 shares of the company’s stock, valued at approximately $2,718,014.65. This represents a 46.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 119 shares of Intuitive Surgical stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $463.50, for a total value of $55,156.50. Following the sale, the director owned 120 shares of the company’s stock, valued at approximately $55,620. This trade represents a 49.79% 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. Over the last three months, insiders sold 7,169 shares of company stock worth $3,059,135. 0.60% of the stock is owned by corporate insiders.

Key Headlines Impacting Intuitive Surgical

Here are the key news stories impacting Intuitive Surgical this week:

• Positive Sentiment: Intuitive Surgical reported stronger-than-expected Q2 revenue and earnings, helped by solid demand for its da Vinci robotic surgery systems and continued adoption of its products. Reuters article
• Positive Sentiment: The company still reported healthy procedure growth overall, with worldwide procedures rising and placements of robotic systems remaining strong, which supports the long-term investment case. Yahoo Finance article
• Neutral Sentiment: Several analysts lowered price targets after the report, but most kept bullish ratings such as overweight, buy, or outperform, suggesting Wall Street still sees meaningful upside despite the near-term pullback. Benzinga article
• Negative Sentiment: Management did not raise its forecast for procedure growth, and investors reacted badly to slower U.S. procedure growth and a cautious full-year outlook. Benzinga article
• Negative Sentiment: Reuters also noted concerns that changes to some insurance plans could reduce demand, adding to worries about slower U.S. growth and a softer near-term procedure trajectory. Reuters article

Intuitive Surgical Stock Down 14.1%

Shares of Intuitive Surgical stock opened at $345.42 on Friday. The stock has a market cap of $122.33 billion, a price-to-earnings ratio of 39.57, a P/E/G ratio of 3.27 and a beta of 1.46. Intuitive Surgical, Inc. has a twelve month low of $344.55 and a twelve month high of $603.88. The company’s fifty day moving average is $415.28 and its 200 day moving average is $467.88.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.42. Intuitive Surgical had a return on equity of 17.09% and a net margin of 28.45%.The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same period last year, the company earned $1.81 earnings per share. The firm’s revenue was up 23.0% compared to the same quarter last year. As a group, equities analysts anticipate that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on ISRG. JPMorgan Chase & Co. dropped their price target on Intuitive Surgical from $550.00 to $450.00 and set an “overweight” rating for the company in a research note on Friday. Raymond James Financial reissued an “outperform” rating and issued a $483.00 target price (down from $577.00) on shares of Intuitive Surgical in a report on Friday. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Intuitive Surgical from $440.00 to $366.00 and set a “sell” rating for the company in a research report on Tuesday, June 2nd. Mizuho set a $500.00 price target on shares of Intuitive Surgical and gave the stock a “neutral” rating in a research report on Wednesday. Finally, HSBC reduced their price target on shares of Intuitive Surgical from $653.00 to $604.00 and set a “buy” rating on the stock in a research report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $523.46.

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.