Headlands Technologies LLC Acquires 7,194 Shares of Intuitive Surgical, Inc. $ISRG

Headlands Technologies LLC grew its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 172.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,375 shares of the medical equipment provider’s stock after buying an additional 7,194 shares during the period. Headlands Technologies LLC’s holdings in Intuitive Surgical were worth $4,524,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp raised its holdings in Intuitive Surgical by 1.0% in the 4th quarter. State Street Corp now owns 15,701,591 shares of the medical equipment provider’s stock worth $8,892,753,000 after purchasing an additional 162,264 shares in the last quarter. Capital World Investors lifted its position in shares of Intuitive Surgical by 1.7% in the 4th quarter. Capital World Investors now owns 7,856,018 shares of the medical equipment provider’s stock worth $4,449,491,000 after purchasing an additional 127,526 shares during the period. Norges Bank bought a new stake in shares of Intuitive Surgical during the 4th quarter valued at about $2,856,987,000. Invesco Ltd. boosted its stake in shares of Intuitive Surgical by 17.4% during the 4th quarter. Invesco Ltd. now owns 4,128,735 shares of the medical equipment provider’s stock valued at $2,338,350,000 after purchasing an additional 611,268 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of Intuitive Surgical by 3.3% during the first quarter. Bank of America Corp DE now owns 3,616,973 shares of the medical equipment provider’s stock valued at $1,667,388,000 after buying an additional 116,292 shares during the period. Institutional investors own 83.64% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on ISRG shares. HSBC lowered shares of Intuitive Surgical from a “buy” rating to a “hold” rating and set a $391.00 price objective for the company. in a report on Thursday, July 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Intuitive Surgical in a report on Friday, August 14th. Royal Bank Of Canada decreased their target price on Intuitive Surgical from $650.00 to $600.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. BNP Paribas Exane upgraded Intuitive Surgical to an “outperform” rating in a research note on Tuesday, July 28th. Finally, BTIG Research dropped their price target on Intuitive Surgical from $512.00 to $469.00 and set a “buy” rating on the stock in a research report on Friday, July 17th. Twenty-two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Intuitive Surgical currently has an average rating of “Moderate Buy” and a consensus price target of $508.68.

Insider Buying and Selling at Intuitive Surgical

In related news, EVP Mark Brosius sold 77 shares of Intuitive Surgical stock in a transaction on Friday, August 21st. The stock was sold at an average price of $375.57, for a total transaction of $28,918.89. Following the transaction, the executive vice president directly owned 881 shares in the company, valued at approximately $330,877.17. The trade was a 8.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of Intuitive Surgical stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $379.00, for a total value of $151,600.00. Following the transaction, the executive vice president directly owned 5,320 shares in the company, valued at approximately $2,016,280. The trade was a 6.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 11,658 shares of company stock worth $4,649,835. 0.60% of the stock is owned by insiders.

Intuitive Surgical Stock Performance

Intuitive Surgical stock opened at $372.60 on Monday. Intuitive Surgical, Inc. has a 12 month low of $328.57 and a 12 month high of $603.88. The stock has a fifty day simple moving average of $384.60 and a two-hundred day simple moving average of $432.33. The firm has a market cap of $131.63 billion, a price-to-earnings ratio of 42.68, a PEG ratio of 2.69 and a beta of 1.47.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings results on Thursday, July 16th. The medical equipment provider reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.32. Intuitive Surgical had a net margin of 28.45% and a return on equity of 16.91%. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.83 billion. During the same quarter last year, the firm posted $1.81 EPS. The business’s quarterly revenue was up 18.4% compared to the same quarter last year. On average, equities research analysts forecast that Intuitive Surgical, Inc. will post 8.87 EPS for the current fiscal year.

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.