McLaughlin Asset Management Inc. Takes $1.60 Million Position in Intuitive Surgical, Inc. $ISRG

McLaughlin Asset Management Inc. bought a new position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,828 shares of the medical equipment provider’s stock, valued at approximately $1,602,000. Intuitive Surgical accounts for approximately 1.4% of McLaughlin Asset Management Inc.’s holdings, making the stock its 19th biggest position.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ISRG. Draper Asset Management LLC boosted its holdings in shares of Intuitive Surgical by 41.9% during the 4th quarter. Draper Asset Management LLC now owns 5,029 shares of the medical equipment provider’s stock worth $2,848,000 after purchasing an additional 1,485 shares during the last quarter. Deutsche Bank AG grew its position in shares of Intuitive Surgical by 9.6% in the fourth quarter. Deutsche Bank AG now owns 1,522,191 shares of the medical equipment provider’s stock valued at $862,108,000 after purchasing an additional 132,966 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Intuitive Surgical by 29.3% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 71,077 shares of the medical equipment provider’s stock valued at $40,255,000 after purchasing an additional 16,119 shares during the last quarter. Procyon Advisors LLC lifted its position in Intuitive Surgical by 787.8% during the fourth quarter. Procyon Advisors LLC now owns 4,794 shares of the medical equipment provider’s stock worth $2,715,000 after buying an additional 4,254 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its position in Intuitive Surgical by 22.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 11,463 shares of the medical equipment provider’s stock worth $5,127,000 after buying an additional 2,102 shares in the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Insider Activity

In related news, EVP Gary Loeb sold 400 shares of the stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $424.14, for a total transaction of $169,656.00. Following the completion of the transaction, the executive vice president owned 5,720 shares of the company’s stock, valued at approximately $2,426,080.80. This trade represents a 6.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 119 shares of Intuitive Surgical stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $463.50, for a total transaction of $55,156.50. Following the completion of the sale, the director owned 120 shares of the company’s stock, valued at $55,620. This trade represents a 49.79% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 7,169 shares of company stock valued at $3,059,135. Company insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Wall Street Zen upgraded Intuitive Surgical from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. The Goldman Sachs Group set a $558.00 price target on Intuitive Surgical in a report on Wednesday, May 27th. TD Cowen lowered their price target on shares of Intuitive Surgical from $660.00 to $585.00 and set a “buy” rating on the stock in a research report on Wednesday, April 22nd. Citigroup raised shares of Intuitive Surgical from a “neutral” rating to a “buy” rating and set a $590.00 price objective for the company in a report on Wednesday, March 11th. Finally, Bank of America reduced their target price on shares of Intuitive Surgical from $520.00 to $515.00 in a research note on Friday, June 12th. Nineteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $573.42.

Intuitive Surgical Trading Up 1.1%

NASDAQ ISRG opened at $406.78 on Friday. The stock has a fifty day simple moving average of $439.54 and a 200-day simple moving average of $491.05. The stock has a market cap of $144.07 billion, a PE ratio of 49.31, a P/E/G ratio of 3.27 and a beta of 1.46. Intuitive Surgical, Inc. has a twelve month low of $396.68 and a twelve month high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $2.62 billion. During the same period in the previous year, the firm earned $1.81 EPS. Intuitive Surgical’s revenue was up 23.0% on a year-over-year basis. Research analysts predict that Intuitive Surgical, Inc. will post 8.57 EPS for the current 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.