Parallel Advisors LLC Increases Stake in Intuitive Surgical, Inc. (ISRG)
Parallel Advisors LLC lifted its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 195.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 470 shares of the medical equipment provider’s stock after purchasing an additional 311 shares during the quarter. Parallel Advisors LLC’s holdings in Intuitive Surgical were worth $184,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in the company. ETF Managers Group LLC acquired a new stake in Intuitive Surgical in the 2nd quarter valued at approximately $110,000. Harvest Fund Management Co. Ltd acquired a new stake in Intuitive Surgical in the 2nd quarter valued at approximately $120,000. Lincoln National Corp acquired a new stake in Intuitive Surgical in the 3rd quarter valued at approximately $200,000. MUFG Americas Holdings Corp acquired a new stake in Intuitive Surgical in the 3rd quarter valued at approximately $208,000. Finally, Advisors Capital Management LLC acquired a new stake in Intuitive Surgical in the 3rd quarter valued at approximately $209,000. Institutional investors and hedge funds own 32.80% of the company’s stock.
Several analysts recently commented on the company. BidaskClub cut Intuitive Surgical from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Vetr cut Intuitive Surgical from a “buy” rating to a “hold” rating and set a $335.49 target price on the stock. in a research report on Wednesday, August 16th. Zacks Investment Research upgraded Intuitive Surgical from a “hold” rating to a “strong-buy” rating and set a $437.00 target price on the stock in a research report on Tuesday. Canaccord Genuity restated a “hold” rating on shares of Intuitive Surgical in a research report on Tuesday, October 17th. Finally, Wells Fargo & Company restated a “buy” rating on shares of Intuitive Surgical in a research report on Monday, October 16th. Five 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. Intuitive Surgical has a consensus rating of “Buy” and an average price target of $335.32.
Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings results on Thursday, October 19th. The medical equipment provider reported $2.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.78. The firm had revenue of $806.10 million during the quarter, compared to analyst estimates of $753.25 million. Intuitive Surgical had a return on equity of 18.20% and a net margin of 30.16%. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. During the same period last year, the company posted $2.06 EPS. sell-side analysts predict that Intuitive Surgical, Inc. will post 7.85 EPS for the current year.
In other news, VP Jamie Samath sold 1,564 shares of the firm’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $371.19, for a total transaction of $580,541.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mark J. Rubash sold 6,000 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $395.95, for a total value of $2,375,700.00. Following the sale, the director now directly owns 5,453 shares of the company’s stock, valued at $2,159,115.35. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 55,944 shares of company stock valued at $21,432,971. 2.20% of the stock is currently owned by corporate insiders.
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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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