AlphaQuest LLC Cuts Holdings in Intuitive Surgical, Inc. $ISRG

AlphaQuest LLC lowered its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 93.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121 shares of the medical equipment provider’s stock after selling 1,718 shares during the period. AlphaQuest LLC’s holdings in Intuitive Surgical were worth $54,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in ISRG. Tobam raised its holdings in Intuitive Surgical by 666.7% in the second quarter. Tobam now owns 46 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 40 shares in the last quarter. Kilter Group LLC purchased a new stake in shares of Intuitive Surgical in the 2nd quarter valued at approximately $27,000. Princeton Global Asset Management LLC acquired a new stake in shares of Intuitive Surgical in the 2nd quarter valued at $30,000. Riggs Asset Managment Co. Inc. grew its stake in shares of Intuitive Surgical by 84.2% during the second quarter. Riggs Asset Managment Co. Inc. now owns 70 shares of the medical equipment provider’s stock worth $38,000 after purchasing an additional 32 shares in the last quarter. Finally, First Command Advisory Services Inc. increased its holdings in Intuitive Surgical by 3,750.0% in the second quarter. First Command Advisory Services Inc. now owns 77 shares of the medical equipment provider’s stock valued at $42,000 after buying an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Analyst Ratings Changes

ISRG has been the subject of several analyst reports. Wall Street Zen cut Intuitive Surgical from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $620.00 price target (up from $610.00) on shares of Intuitive Surgical in a report on Friday, January 23rd. Jefferies Financial Group increased their price target on shares of Intuitive Surgical from $550.00 to $560.00 and gave the company a “hold” rating in a research note on Wednesday, October 22nd. Truist Financial boosted their price objective on shares of Intuitive Surgical from $620.00 to $650.00 and gave the stock a “buy” rating in a research report on Thursday, December 18th. Finally, Raymond James Financial increased their target price on shares of Intuitive Surgical from $603.00 to $615.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, fifteen have given 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $617.23.

Intuitive Surgical Stock Performance

Shares of Intuitive Surgical stock opened at $485.84 on Monday. The company has a market capitalization of $172.54 billion, a P/E ratio of 61.58, a PEG ratio of 3.76 and a beta of 1.65. Intuitive Surgical, Inc. has a 1 year low of $425.00 and a 1 year high of $609.08. The company’s fifty day moving average is $541.62 and its two-hundred day moving average is $510.40.

Intuitive Surgical (NASDAQ:ISRG) last announced its earnings results on Thursday, January 22nd. The medical equipment provider reported $2.53 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.26. Intuitive Surgical had a net margin of 28.38% and a return on equity of 15.06%. The business had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.72 billion. During the same quarter in the prior year, the firm earned $2.21 earnings per share. The business’s quarterly revenue was up 18.8% compared to the same quarter last year. As a group, equities analysts expect that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Gary S. Guthart sold 2,800 shares of Intuitive Surgical stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $531.52, for a total value of $1,488,256.00. Following the transaction, the director directly owned 15,720 shares in the company, valued at $8,355,494.40. This trade represents a 15.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Fredrik Widman sold 133 shares of the business’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $494.96, for a total transaction of $65,829.68. Following the completion of the transaction, the vice president directly owned 660 shares in the company, valued at $326,673.60. This represents a 16.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 56,189 shares of company stock valued at $30,785,441 over the last 90 days. Insiders own 0.70% of the company’s stock.

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.