Intuitive Surgical, Inc. (ISRG) Shares Sold by Sectoral Asset Management Inc
Sectoral Asset Management Inc cut its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 42.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,467 shares of the medical equipment provider’s stock after selling 12,205 shares during the quarter. Intuitive Surgical comprises approximately 1.7% of Sectoral Asset Management Inc’s investment portfolio, making the stock its 26th biggest holding. Sectoral Asset Management Inc’s holdings in Intuitive Surgical were worth $15,403,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. L & S Advisors Inc grew its holdings in shares of Intuitive Surgical by 21.5% during the second quarter. L & S Advisors Inc now owns 2,430 shares of the medical equipment provider’s stock valued at $2,273,000 after buying an additional 430 shares during the last quarter. QCM Cayman Ltd. acquired a new position in Intuitive Surgical during the second quarter valued at $232,000. Sun Life Financial INC lifted its position in Intuitive Surgical by 1,693.3% during the second quarter. Sun Life Financial INC now owns 269 shares of the medical equipment provider’s stock valued at $252,000 after purchasing an additional 254 shares during the period. Picton Mahoney Asset Management lifted its position in Intuitive Surgical by 46.4% during the second quarter. Picton Mahoney Asset Management now owns 22,769 shares of the medical equipment provider’s stock valued at $21,297,000 after purchasing an additional 7,217 shares during the period. Finally, Institute for Wealth Management LLC. acquired a new position in Intuitive Surgical during the second quarter valued at $1,493,000. 94.23% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Jamie Samath sold 242 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $949.01, for a total value of $229,660.42. Following the completion of the sale, the vice president now owns 23 shares in the company, valued at $21,827.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael A. Friedman sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $945.60, for a total transaction of $945,600.00. Following the completion of the sale, the director now owns 977 shares of the company’s stock, valued at approximately $923,851.20. The disclosure for this sale can be found here. Insiders sold 23,172 shares of company stock valued at $21,923,487 in the last quarter. Company insiders own 2.20% of the company’s stock.
A number of research analysts recently issued reports on ISRG shares. BidaskClub downgraded shares of Intuitive Surgical from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Zacks Investment Research upgraded shares of Intuitive Surgical from a “hold” rating to a “buy” rating and set a $345.00 target price for the company in a research report on Thursday, June 8th. Stifel Nicolaus restated a “buy” rating and set a $366.67 target price (up from $283.33) on shares of Intuitive Surgical in a research report on Saturday, July 22nd. Citigroup Inc. restated a “buy” rating and set a $359.33 target price (up from $305.67) on shares of Intuitive Surgical in a research report on Monday, July 24th. Finally, Vetr upgraded shares of Intuitive Surgical from a “hold” rating to a “buy” rating and set a $340.11 target price for the company in a research report on Thursday, August 17th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $411.32.
Shares of Intuitive Surgical, Inc. (NASDAQ ISRG) traded up 1.95% on Friday, hitting $1045.88. 228,270 shares of the company’s stock were exchanged. Intuitive Surgical, Inc. has a 12-month low of $610.71 and a 12-month high of $1,054.77. The company’s 50-day moving average price is $990.40 and its 200 day moving average price is $891.23. The stock has a market cap of $38.85 billion, a price-to-earnings ratio of 50.09 and a beta of 0.38. Shares of Intuitive Surgical are scheduled to split on Friday, October 6th. The 3-1 split was announced on Friday, August 11th. The newly issued shares will be issued to shareholders after the closing bell on Thursday, October 5th.
Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings data on Thursday, July 20th. The medical equipment provider reported $1.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.93 by $0.05. Intuitive Surgical had a net margin of 28.44% and a return on equity of 15.99%. The firm had revenue of $756.20 million during the quarter, compared to analysts’ expectations of $724.51 million. During the same quarter last year, the business earned $1.87 earnings per share. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, equities analysts predict that Intuitive Surgical, Inc. will post $23.92 earnings per share for the current fiscal year.
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Intuitive Surgical Profile
Intuitive Surgical, Inc (Intuitive) designs, manufactures and markets da Vinci Surgical Systems, and related instruments and accessories. The Company’s da Vinci Surgical System consists of a surgeon’s console, a patient-side cart and a vision system. The da Vinci Surgical System translates a surgeon’s hand movements, which are performed on instrument controls at a console, into corresponding micro-movements of instruments positioned inside the patient through small incisions or ports.
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