Munro Partners Reduces Stock Holdings in Intuitive Surgical, Inc. $ISRG

Munro Partners reduced its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 25.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 90,125 shares of the medical equipment provider’s stock after selling 30,785 shares during the quarter. Munro Partners’ holdings in Intuitive Surgical were worth $40,307,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ISRG. Brighton Jones LLC boosted its holdings in shares of Intuitive Surgical by 24.9% in the fourth quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider’s stock worth $1,916,000 after buying an additional 731 shares during the last quarter. Axiom Investors LLC DE bought a new position in Intuitive Surgical in the first quarter worth approximately $76,559,000. Campbell & CO Investment Adviser LLC raised its position in Intuitive Surgical by 125.4% in the first quarter. Campbell & CO Investment Adviser LLC now owns 3,778 shares of the medical equipment provider’s stock worth $1,871,000 after acquiring an additional 2,102 shares during the period. Synovus Financial Corp boosted its stake in shares of Intuitive Surgical by 36.9% during the 1st quarter. Synovus Financial Corp now owns 3,492 shares of the medical equipment provider’s stock worth $1,729,000 after acquiring an additional 941 shares during the last quarter. Finally, J. Stern & Co. LLP bought a new stake in shares of Intuitive Surgical during the 1st quarter valued at $2,363,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ISRG. Rothschild & Co Redburn raised their target price on Intuitive Surgical from $610.00 to $615.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. BTIG Research raised their price objective on Intuitive Surgical from $529.00 to $589.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. UBS Group set a $600.00 price objective on Intuitive Surgical and gave the company a “neutral” rating in a research report on Thursday, October 23rd. Argus increased their target price on shares of Intuitive Surgical from $600.00 to $630.00 in a report on Monday, October 27th. Finally, Zacks Research upgraded shares of Intuitive Surgical from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 24th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $611.08.

Insider Activity at Intuitive Surgical

In other Intuitive Surgical news, insider Gary S. Guthart sold 22,806 shares of Intuitive Surgical stock in a transaction on Monday, December 1st. The shares were sold at an average price of $570.89, for a total value of $13,019,717.34. Following the completion of the transaction, the insider directly owned 2,694 shares of the company’s stock, valued at $1,537,977.66. This trade represents a 89.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Myriam Curet sold 104 shares of the business’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $559.90, for a total transaction of $58,229.60. The disclosure for this sale is available in the SEC filing. Insiders have sold 114,007 shares of company stock valued at $63,533,844 over the last quarter. 0.70% of the stock is currently owned by insiders.

Intuitive Surgical Trading Down 0.4%

Shares of Intuitive Surgical stock opened at $577.34 on Wednesday. The firm has a market cap of $206.96 billion, a PE ratio of 76.37, a PEG ratio of 5.33 and a beta of 1.68. The stock has a 50 day moving average of $547.18 and a 200 day moving average of $505.91. Intuitive Surgical, Inc. has a 12 month low of $425.00 and a 12 month high of $616.00.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings data on Tuesday, October 21st. The medical equipment provider reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.41. The business had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Intuitive Surgical had a return on equity of 15.08% and a net margin of 28.58%.The company’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.84 EPS. As a group, equities research analysts forecast that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

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.