Castleark Management LLC Reduces Stock Holdings in Intuitive Surgical, Inc. $ISRG

Castleark Management LLC cut its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 20.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 91,699 shares of the medical equipment provider’s stock after selling 23,726 shares during the period. Intuitive Surgical comprises approximately 1.5% of Castleark Management LLC’s portfolio, making the stock its 18th largest position. Castleark Management LLC’s holdings in Intuitive Surgical were worth $49,830,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its position in Intuitive Surgical by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 33,335,833 shares of the medical equipment provider’s stock valued at $18,115,025,000 after acquiring an additional 670,302 shares during the period. State Street Corp grew its stake in shares of Intuitive Surgical by 1.2% during the 2nd quarter. State Street Corp now owns 15,552,203 shares of the medical equipment provider’s stock worth $8,451,223,000 after purchasing an additional 182,871 shares during the period. Geode Capital Management LLC increased its holdings in Intuitive Surgical by 1.4% in the second quarter. Geode Capital Management LLC now owns 8,188,685 shares of the medical equipment provider’s stock valued at $4,429,590,000 after buying an additional 109,904 shares in the last quarter. Norges Bank acquired a new position in Intuitive Surgical during the second quarter worth $2,569,260,000. Finally, Invesco Ltd. boosted its position in shares of Intuitive Surgical by 4.8% in the 2nd quarter. Invesco Ltd. now owns 4,421,133 shares of the medical equipment provider’s stock worth $2,402,488,000 after buying an additional 201,159 shares in the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Intuitive Surgical

In other Intuitive Surgical news, EVP Myriam Curet sold 104 shares of the business’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $559.90, for a total transaction of $58,229.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brian Edward Miller sold 3,500 shares of the company’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $575.00, for a total transaction of $2,012,500.00. Following the completion of the sale, the executive vice president directly owned 5,758 shares of the company’s stock, valued at $3,310,850. The trade was a 37.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 109,043 shares of company stock worth $60,816,225 over the last quarter. Insiders own 0.70% of the company’s stock.

Intuitive Surgical Stock Down 0.9%

ISRG opened at $542.32 on Friday. The firm has a market cap of $194.41 billion, a price-to-earnings ratio of 71.74, a price-to-earnings-growth ratio of 4.98 and a beta of 1.68. Intuitive Surgical, Inc. has a fifty-two week low of $425.00 and a fifty-two week high of $616.00. The company’s 50-day moving average price is $529.62 and its 200 day moving average price is $505.69.

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Raymond James Financial set a $603.00 price target on Intuitive Surgical and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Rothschild & Co Redburn upped their price objective on Intuitive Surgical from $610.00 to $615.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Sanford C. Bernstein restated an “outperform” rating and issued a $685.00 price target on shares of Intuitive Surgical in a report on Tuesday, October 21st. Royal Bank Of Canada set a $625.00 target price on Intuitive Surgical and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Finally, Citigroup lowered shares of Intuitive Surgical from a “buy” rating to a “neutral” rating and lowered their price target for the company from $650.00 to $635.00 in a report on Thursday. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $608.79.

Intuitive Surgical Profile

Intuitive Surgical, Inc develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally. The company offers the da Vinci Surgical System that enables complex surgery using a minimally invasive approach; and Ion endoluminal system, which extends its commercial offerings beyond surgery into diagnostic procedures enabling minimally invasive biopsies in the lung.