Intuitive Surgical, Inc. $ISRG Stock: Traynor Capital Management Inc. Reduces Stake

Traynor Capital Management Inc. reduced its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 6.9% in the third quarter, HoldingsChannel reports. The firm owned 58,636 shares of the medical equipment provider’s stock after selling 4,349 shares during the period. Intuitive Surgical makes up approximately 1.1% of Traynor Capital Management Inc.’s investment portfolio, making the stock its 17th largest position. Traynor Capital Management Inc.’s holdings in Intuitive Surgical were worth $23,843,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of America Corp DE boosted its stake in Intuitive Surgical by 3.3% in 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 acquiring an additional 116,292 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Intuitive Surgical during the 2nd quarter valued at about $1,335,753,000. Amundi increased its holdings in shares of Intuitive Surgical by 8.6% in the first quarter. Amundi now owns 2,428,356 shares of the medical equipment provider’s stock valued at $1,119,448,000 after purchasing an additional 193,096 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Intuitive Surgical by 95.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,105,544 shares of the medical equipment provider’s stock worth $970,635,000 after purchasing an additional 1,027,475 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Intuitive Surgical by 10.8% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,893,485 shares of the medical equipment provider’s stock worth $769,948,000 after purchasing an additional 184,044 shares during the period. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Insider Activity

In other news, Director Amy L. Ladd sold 400 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $379.00, for a total transaction of $151,600.00. Following the completion of the transaction, the director directly owned 251 shares of the company’s stock, valued at approximately $95,129. The trade was a 61.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gary S. Guthart sold 20,095 shares of Intuitive Surgical stock in a transaction that occurred on Friday, October 23rd. The stock was sold at an average price of $451.61, for a total transaction of $9,075,102.95. Following the completion of the transaction, the director owned 1,204,530 shares of the company’s stock, valued at $543,977,793.30. This represents a 1.64% decrease in their position. 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. Insiders sold a total of 38,778 shares of company stock worth $16,814,967 over the last three months. Company insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ISRG. TD Cowen restated a “buy” rating and set a $485.00 target price on shares of Intuitive Surgical in a research report on Monday, October 19th. Oppenheimer reaffirmed an “outperform” rating and set a $500.00 price target on shares of Intuitive Surgical in a research report on Wednesday, October 21st. Royal Bank Of Canada reduced their price objective on Intuitive Surgical from $575.00 to $550.00 and set an “outperform” rating for the company in a research note on Wednesday, October 21st. Stifel Nicolaus decreased their price objective on Intuitive Surgical from $670.00 to $550.00 and set a “buy” rating for the company in a report on Friday, July 17th. Finally, Robert W. Baird upped their target price on Intuitive Surgical from $513.00 to $550.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $493.54.

Intuitive Surgical Price Performance

Shares of ISRG stock opened at $432.01 on Monday. The firm’s 50-day moving average is $401.54 and its two-hundred day moving average is $434.05. The company has a market capitalization of $149.75 billion, a PE ratio of 52.24, a price-to-earnings-growth ratio of 2.98 and a beta of 1.45. Intuitive Surgical, Inc. has a 12 month low of $328.57 and a 12 month high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last released its earnings results on Tuesday, October 20th. The medical equipment provider reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.35. Intuitive Surgical had a return on equity of 18.17% and a net margin of 25.54%. The company had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $2.91 billion. During the same period in the previous year, the company posted $2.40 EPS. Intuitive Surgical’s revenue was up 21.7% compared to the same quarter last year. Sell-side analysts forecast that Intuitive Surgical, Inc. will post 9.37 EPS for the current year.

Intuitive Surgical Profile

Intuitive Surgical, Inc develops and manufactures robotic-assisted systems and related technologies for minimally invasive surgery. Its products are designed to help surgeons perform procedures through small incisions while providing enhanced visualization, precision and control. The company’s primary platform is the da Vinci Surgical System, which is used across a range of specialties, including urology, gynecology, general surgery, cardiothoracic surgery and other procedures.

The company also offers the Ion endoluminal system, which is designed to support minimally invasive lung biopsy procedures.