Baker Avenue Asset Management LP Has $12.14 Million Position in Intuitive Surgical, Inc. $ISRG

Baker Avenue Asset Management LP boosted its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 13.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 21,428 shares of the medical equipment provider’s stock after purchasing an additional 2,611 shares during the quarter. Baker Avenue Asset Management LP’s holdings in Intuitive Surgical were worth $12,136,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ISRG. Northwestern Mutual Wealth Management Co. increased its holdings in Intuitive Surgical by 1,043.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,342,121 shares of the medical equipment provider’s stock worth $760,124,000 after purchasing an additional 1,224,734 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Intuitive Surgical by 106.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,533,771 shares of the medical equipment provider’s stock worth $868,667,000 after purchasing an additional 791,516 shares in the last quarter. Amundi increased its holdings in Intuitive Surgical by 29.7% in the 3rd quarter. Amundi now owns 3,227,472 shares of the medical equipment provider’s stock worth $1,451,362,000 after purchasing an additional 739,444 shares in the last quarter. Sands Capital Management LLC increased its holdings in Intuitive Surgical by 77.0% in the 3rd quarter. Sands Capital Management LLC now owns 1,341,109 shares of the medical equipment provider’s stock worth $599,784,000 after purchasing an additional 583,539 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Intuitive Surgical by 41.3% in the 3rd quarter. Victory Capital Management Inc. now owns 1,941,310 shares of the medical equipment provider’s stock worth $868,212,000 after purchasing an additional 567,483 shares in the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.

Insider Activity at Intuitive Surgical

In related news, EVP Gary Loeb sold 400 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $446.95, for a total transaction of $178,780.00. Following the sale, the executive vice president owned 6,120 shares in the company, valued at $2,735,334. This represents a 6.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark Brosius sold 645 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $485.01, for a total value of $312,831.45. Following the sale, the senior vice president owned 1,613 shares in the company, valued at approximately $782,321.13. The trade was a 28.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 5,701 shares of company stock worth $2,783,807 over the last quarter. 0.60% of the stock is owned by company insiders.

Intuitive Surgical Price Performance

Shares of Intuitive Surgical stock opened at $418.55 on Thursday. Intuitive Surgical, Inc. has a one year low of $414.30 and a one year high of $603.88. The stock’s 50-day moving average is $455.79 and its 200 day moving average is $507.97. The firm has a market cap of $148.23 billion, a price-to-earnings ratio of 50.73, a PEG ratio of 3.49 and a beta of 1.51.

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

Analyst Ratings Changes

A number of brokerages have issued reports on ISRG. TD Cowen lowered their target price on Intuitive Surgical from $660.00 to $585.00 and set a “buy” rating for the company in a report on Wednesday, April 22nd. Citigroup raised Intuitive Surgical from a “neutral” rating to a “buy” rating and set a $590.00 target price for the company in a report on Wednesday, March 11th. Leerink Partners lowered their target price on Intuitive Surgical from $622.00 to $573.00 and set an “outperform” rating for the company in a report on Wednesday, April 22nd. Bank of America reduced their price target on Intuitive Surgical from $650.00 to $520.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. Finally, Evercore reduced their price target on Intuitive Surgical from $550.00 to $480.00 and set a “neutral” rating on the stock in a research report on Monday, April 6th. Nineteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $576.71.

Intuitive Surgical Profile

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.