Clare Market Investments LLC Invests $2.56 Million in Intuitive Surgical, Inc. $ISRG

Clare Market Investments LLC purchased a new position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,550 shares of the medical equipment provider’s stock, valued at approximately $2,558,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Intuitive Surgical in the 4th quarter valued at approximately $2,856,987,000. J. Stern & Co. LLP raised its stake in shares of Intuitive Surgical by 18,504.6% during the fourth quarter. J. Stern & Co. LLP now owns 2,127,248 shares of the medical equipment provider’s stock worth $1,204,788,000 after purchasing an additional 2,115,814 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Intuitive Surgical by 1,043.3% during the fourth 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 during the last quarter. Polen Capital Management LLC acquired a new stake in shares of Intuitive Surgical during the fourth quarter worth $477,225,000. Finally, Assenagon Asset Management S.A. grew its position 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 valued at $868,667,000 after buying an additional 791,516 shares during the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.

Intuitive Surgical Stock Up 1.7%

Shares of ISRG opened at $440.20 on Tuesday. The company has a 50-day simple moving average of $427.27 and a 200-day simple moving average of $479.06. The company has a market capitalization of $155.90 billion, a PE ratio of 53.33, a P/E/G ratio of 3.47 and a beta of 1.46. Intuitive Surgical, Inc. has a 52-week low of $396.68 and a 52-week high of $603.88.

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

Insider Transactions at Intuitive Surgical

In other Intuitive Surgical news, SVP Iman Jeddi sold 5,625 shares of the business’s stock in a transaction on 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 directly owned 6,463 shares in the company, valued at approximately $2,718,014.65. The trade was a 46.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 119 shares of the firm’s stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $463.50, for a total value of $55,156.50. Following the completion of the transaction, the director owned 120 shares of the company’s stock, valued at approximately $55,620. This 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. Insiders have sold 7,169 shares of company stock valued at $3,059,135 in the last quarter. 0.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ISRG shares. UBS Group dropped their price objective on shares of Intuitive Surgical from $570.00 to $550.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 17th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Intuitive Surgical from $440.00 to $366.00 and set a “sell” rating on the stock in a research note on Tuesday, June 2nd. Raymond James Financial reduced their price objective on shares of Intuitive Surgical from $615.00 to $577.00 and set an “outperform” rating for the company in a research report on Wednesday, April 22nd. JPMorgan Chase & Co. lowered their price objective on Intuitive Surgical from $625.00 to $550.00 and set an “overweight” rating on the stock in a report on Wednesday, April 22nd. Finally, Zacks Research cut Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Nineteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Intuitive Surgical presently has an average rating of “Moderate Buy” and a consensus target price of $571.33.

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.