Intuitive Surgical, Inc. $ISRG Position Trimmed by Northeast Investment Management

Northeast Investment Management decreased its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 12.4% during the third quarter, HoldingsChannel reports. The fund owned 74,780 shares of the medical equipment provider’s stock after selling 10,586 shares during the quarter. Intuitive Surgical accounts for approximately 1.1% of Northeast Investment Management’s investment portfolio, making the stock its 26th largest holding. Northeast Investment Management’s holdings in Intuitive Surgical were worth $30,408,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ISRG. Beaumont Financial Advisors LLC lifted its holdings in shares of Intuitive Surgical by 3.8% in the 3rd quarter. Beaumont Financial Advisors LLC now owns 627 shares of the medical equipment provider’s stock worth $255,000 after acquiring an additional 23 shares during the last quarter. Hughes Financial Services LLC grew its holdings in Intuitive Surgical by 40.7% during the 3rd quarter. Hughes Financial Services LLC now owns 83 shares of the medical equipment provider’s stock valued at $37,000 after purchasing an additional 24 shares during the last quarter. W.G. Shaheen & Associates DBA Whitney & Co grew its holdings in Intuitive Surgical by 1.0% during the 1st quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 2,542 shares of the medical equipment provider’s stock valued at $1,172,000 after purchasing an additional 25 shares during the last quarter. Blue Fin Capital Inc. grew its holdings in Intuitive Surgical by 0.5% during the 1st quarter. Blue Fin Capital Inc. now owns 4,794 shares of the medical equipment provider’s stock valued at $2,210,000 after purchasing an additional 25 shares during the last quarter. Finally, Red Spruce Capital LLC raised its position in Intuitive Surgical by 4.1% in the 2nd quarter. Red Spruce Capital LLC now owns 640 shares of the medical equipment provider’s stock worth $255,000 after purchasing an additional 25 shares during the period. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Insider Buying and Selling

In other Intuitive Surgical news, Director Gary Guthart sold 20,095 shares of the company’s stock in a transaction dated Friday, October 23rd. The shares were sold at an average price of $451.61, for a total value of $9,075,102.95. Following the transaction, the director directly owned 1,204,530 shares in the company, valued at $543,977,793.30. This represents a 1.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Fredrik Widman sold 4,047 shares of the firm’s stock in a transaction that occurred on Friday, October 23rd. The stock was sold at an average price of $453.21, for a total transaction of $1,834,140.87. Following the transaction, the vice president directly owned 1,026 shares in the company, valued at approximately $464,993.46. This trade represents a 79.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 38,778 shares of company stock worth $16,814,967 over the last 90 days. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ISRG. BNP Paribas Exane raised shares of Intuitive Surgical to an “outperform” rating in a research note on Tuesday, July 28th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Intuitive Surgical in a research note on Monday, July 20th. TD Cowen reaffirmed a “buy” rating and set a $485.00 target price on shares of Intuitive Surgical in a research note on Monday, October 19th. Stifel Nicolaus reduced their price target on Intuitive Surgical from $670.00 to $550.00 and set a “buy” rating on the stock in a report on Friday, July 17th. Finally, Mizuho decreased their price target on Intuitive Surgical from $415.00 to $400.00 and set a “neutral” rating for the company in a research note on Wednesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $493.54.

Intuitive Surgical Trading Up 9.4%

NASDAQ ISRG opened at $482.10 on Thursday. The company’s 50-day moving average price is $406.25 and its 200-day moving average price is $432.60. The stock has a market cap of $167.12 billion, a PE ratio of 58.30, a PEG ratio of 3.04 and a beta of 1.45. Intuitive Surgical, Inc. has a 12 month low of $328.57 and a 12 month high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings results on Tuesday, October 20th. The medical equipment provider reported $3.00 EPS for the quarter, topping the consensus estimate of $2.65 by $0.35. Intuitive Surgical had a net margin of 25.54% and a return on equity of 18.17%. The company had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $2.91 billion. During the same quarter last year, the firm posted $2.40 EPS. The firm’s revenue was up 21.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Intuitive Surgical, Inc. will post 9.37 earnings per share for the current year.

Intuitive Surgical Profile

Intuitive Surgical, Inc develops and manufactures robotic-assisted systems and related technologies for minimally invasive surgery. Its products are designed to help surgeons perform procedures through small incisions while providing enhanced visualization, precision and control. The company’s primary platform is the da Vinci Surgical System, which is used across a range of specialties, including urology, gynecology, general surgery, cardiothoracic surgery and other procedures.

The company also offers the Ion endoluminal system, which is designed to support minimally invasive lung biopsy procedures.