Jag Capital Management LLC Buys 1,725 Shares of Intuitive Surgical, Inc. $ISRG

Jag Capital Management LLC grew its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 5.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,869 shares of the medical equipment provider’s stock after buying an additional 1,725 shares during the quarter. Intuitive Surgical accounts for about 1.8% of Jag Capital Management LLC’s investment portfolio, making the stock its 21st biggest holding. Jag Capital Management LLC’s holdings in Intuitive Surgical were worth $16,074,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Intuitive Surgical in the 4th quarter valued at about $2,856,987,000. J. Stern & Co. LLP grew its stake in shares of Intuitive Surgical by 18,504.6% during the 4th quarter. J. Stern & Co. LLP now owns 2,127,248 shares of the medical equipment provider’s stock worth $1,204,788,000 after acquiring an additional 2,115,814 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Intuitive Surgical by 1,043.3% during 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 acquiring an additional 1,224,734 shares in the last quarter. Polen Capital Management LLC acquired a new stake in shares of Intuitive Surgical in the fourth quarter valued at approximately $477,225,000. Finally, Assenagon Asset Management S.A. lifted its position in shares of Intuitive Surgical by 106.6% in the fourth 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. Institutional investors own 83.64% of the company’s stock.

Insider Activity at Intuitive Surgical

In related news, EVP Gary Loeb sold 400 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total value of $169,656.00. Following the completion of the sale, the executive vice president directly owned 5,720 shares in the company, valued at $2,426,080.80. The trade was a 6.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Iman Jeddi sold 5,625 shares of the company’s stock in a transaction 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 completion of the transaction, the senior vice president directly owned 6,463 shares in the company, valued at approximately $2,718,014.65. This represents a 46.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 7,169 shares of company stock worth $3,059,135. Insiders own 0.60% of the company’s stock.

Intuitive Surgical News Summary

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

• Positive Sentiment: Q2 earnings and revenue came in ahead of Wall Street expectations, supported by strong demand for Intuitive’s robotic surgical systems. Reuters: Intuitive Surgical beats quarterly estimates on strong demand for its robotic systems
• Positive Sentiment: Worldwide procedure volume continued to grow at a healthy pace, with da Vinci procedures up about 15% and Ion procedures up about 36%, reinforcing the company’s growth story. Yahoo Finance: Intuitive Announces Second Quarter Earnings
• Positive Sentiment: Analyst coverage remained constructive, with Truist still rating the stock Buy even after trimming its price target to $510 from $580. Benzinga/Truist note

Analyst Ratings Changes

A number of research analysts recently weighed in on ISRG shares. BMO Capital Markets initiated coverage on shares of Intuitive Surgical in a research report on Wednesday, July 8th. They issued an “outperform” rating and a $518.00 target price for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Intuitive Surgical in a research report on Tuesday, May 19th. Bank of America decreased their price target on Intuitive Surgical from $520.00 to $515.00 in a research note on Friday, June 12th. TD Cowen lowered their price target on Intuitive Surgical from $585.00 to $520.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Truist Financial cut their price objective on Intuitive Surgical from $580.00 to $510.00 and set a “buy” rating for the company in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $562.62.

Intuitive Surgical Stock Up 3.4%

ISRG opened at $402.33 on Friday. Intuitive Surgical, Inc. has a 12-month low of $378.50 and a 12-month high of $603.88. The business has a 50 day moving average of $417.37 and a 200-day moving average of $468.74. The stock has a market cap of $142.49 billion, a price-to-earnings ratio of 48.77, a PEG ratio of 3.16 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.42. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter in the prior year, the business earned $1.81 EPS. The firm’s revenue for the quarter was up 23.0% on a year-over-year basis. As a group, analysts expect that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current year.

Intuitive Surgical Company 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.