Conquis Financial LLC Takes Position in Intuitive Surgical, Inc. $ISRG

Conquis Financial LLC purchased a new stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,926 shares of the medical equipment provider’s stock, valued at approximately $1,091,000. Intuitive Surgical accounts for approximately 0.9% of Conquis Financial LLC’s portfolio, making the stock its 14th biggest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of ISRG. Norges Bank acquired a new stake in Intuitive Surgical in the fourth quarter worth about $2,856,987,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Intuitive Surgical by 1,043.3% in 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 period. Assenagon Asset Management S.A. lifted its holdings in 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 during the period. Amundi lifted its holdings in Intuitive Surgical by 29.7% in the third 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 during the period. Finally, Sands Capital Management LLC lifted its holdings in Intuitive Surgical by 77.0% in the third 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 during the period. Institutional investors and hedge funds own 83.64% of the company’s stock.

Intuitive Surgical Stock Performance

NASDAQ:ISRG opened at $422.06 on Friday. The stock’s 50 day moving average price is $447.24 and its 200 day moving average price is $501.02. Intuitive Surgical, Inc. has a 52 week low of $396.68 and a 52 week high of $603.88. The company has a market capitalization of $149.48 billion, a P/E ratio of 51.16, a P/E/G ratio of 3.37 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG) last announced its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter in the prior year, the business earned $1.81 earnings per share. The company’s revenue was up 23.0% on a year-over-year basis. As a group, sell-side analysts forecast that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Intuitive Surgical news, SVP Mark Brosius sold 645 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $485.01, for a total transaction of $312,831.45. Following the completion of the transaction, the senior vice president directly owned 1,613 shares in the company, valued at $782,321.13. This represents a 28.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Amy L. Ladd sold 500 shares of the stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $473.46, for a total value of $236,730.00. Following the transaction, the director owned 239 shares of the company’s stock, valued at $113,156.94. This represents a 67.66% 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. Insiders sold a total of 7,448 shares of company stock valued at $3,224,404 in the last ninety days. 0.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ISRG has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on shares of Intuitive Surgical from $440.00 to $366.00 and set a “sell” rating for the company in a report on Tuesday, June 2nd. BTIG Research reissued a “buy” rating and issued a $574.00 price target on shares of Intuitive Surgical in a report on Wednesday, April 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Intuitive Surgical in a report on Tuesday, May 19th. Jefferies Financial Group cut their price target on shares of Intuitive Surgical from $560.00 to $515.00 and set a “hold” rating for the company in a report on Wednesday, April 22nd. Finally, UBS Group cut their price target on shares of Intuitive Surgical from $570.00 to $550.00 and set a “neutral” rating for the company in a report on Tuesday, March 17th. Nineteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Intuitive Surgical has an average rating of “Moderate Buy” and a consensus price target of $573.63.

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.