Convergence Investment Partners LLC Buys Shares of 2,792 Intuitive Surgical, Inc. $ISRG

Convergence Investment Partners LLC bought a new position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) in the first quarter, HoldingsChannel reports. The firm bought 2,792 shares of the medical equipment provider’s stock, valued at approximately $1,287,000.

A number of other hedge funds have also modified their holdings of the business. Draper Asset Management LLC grew its holdings in 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 acquiring an additional 1,485 shares during the last quarter. Deutsche Bank AG raised its stake 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 worth $862,108,000 after acquiring an additional 132,966 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Intuitive Surgical by 29.3% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 71,077 shares of the medical equipment provider’s stock worth $40,255,000 after purchasing an additional 16,119 shares in the last quarter. Robinhood Asset Management LLC bought a new stake in shares of Intuitive Surgical during the fourth quarter valued at approximately $6,478,000. Finally, KBC Group NV lifted its holdings in Intuitive Surgical by 4.7% during the 4th quarter. KBC Group NV now owns 420,593 shares of the medical equipment provider’s stock worth $238,207,000 after buying an additional 18,697 shares in the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

Intuitive Surgical Price Performance

NASDAQ:ISRG opened at $350.06 on Wednesday. Intuitive Surgical, Inc. has a fifty-two week low of $342.10 and a fifty-two week high of $603.88. The stock has a market capitalization of $123.98 billion, a PE ratio of 40.10, a price-to-earnings-growth ratio of 2.72 and a beta of 1.46. The business’s 50-day simple moving average is $412.30 and its 200-day simple moving average is $464.06.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings results on Thursday, July 16th. The medical equipment provider reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.32. The firm had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.83 billion. Intuitive Surgical had a net margin of 28.45% and a return on equity of 17.09%. The business’s revenue was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.81 earnings per share. On average, research analysts expect that Intuitive Surgical, Inc. will post 8.61 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ISRG shares. HSBC lowered their target price on Intuitive Surgical from $653.00 to $604.00 and set a “buy” rating for the company in a research note on Wednesday, April 22nd. Stifel Nicolaus cut their price target on Intuitive Surgical from $670.00 to $550.00 and set a “buy” rating on the stock in a research note on Friday, July 17th. Jefferies Financial Group reduced their target price on shares of Intuitive Surgical from $560.00 to $515.00 and set a “hold” rating on the stock in a research note on Wednesday, April 22nd. Royal Bank Of Canada lowered their price target on shares of Intuitive Surgical from $650.00 to $600.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Intuitive Surgical from $550.00 to $450.00 and set an “overweight” rating for the company in a research note on Friday, July 17th. Twenty-one research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $523.46.

More Intuitive Surgical News

Here are the key news stories impacting Intuitive Surgical this week:

• Positive Sentiment: Recent commentary highlights that Intuitive Surgical’s latest earnings were impressive, with the company continuing to post strong growth and beating expectations, which supports the long-term investment case. Article Title
• Positive Sentiment: Analysts and recent coverage argue the stock may be oversold, with Wall Street estimate revisions moving higher and some writers saying the pullback could create a buying opportunity for growth investors. Article Title
• Positive Sentiment: One valuation-focused piece says ISRG is being priced for slower growth than it is currently delivering, suggesting the stock could be undervalued if the company maintains its current pace. Article Title
• Neutral Sentiment: Multiple articles note that ISRG has become a heavily watched and widely discussed stock, reflecting heightened investor attention rather than a clear new business catalyst. Article Title
• Negative Sentiment: Despite the strong fundamentals, the stock has fallen sharply over the past several weeks, and several reports frame the decline as a correction driven by investor caution around valuation and recent price weakness. Article Title

Insider Transactions at Intuitive Surgical

In related news, SVP Iman Jeddi sold 5,625 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $420.55, for a total value of $2,365,593.75. Following the completion of the transaction, the senior vice president directly owned 6,463 shares of the company’s stock, valued at approximately $2,718,014.65. This represents a 46.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 119 shares of the stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $463.50, for a total value of $55,156.50. Following the transaction, the director owned 120 shares of the company’s stock, valued at approximately $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. Insiders sold 7,169 shares of company stock valued at $3,059,135 over the last quarter. Corporate insiders own 0.60% 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.