Deepwater Asset Management LLC Sells 4,258 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Deepwater Asset Management LLC lessened its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 12.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,102 shares of the medical equipment provider’s stock after selling 4,258 shares during the period. Intuitive Surgical comprises approximately 4.7% of Deepwater Asset Management LLC’s investment portfolio, making the stock its 17th largest holding. Deepwater Asset Management LLC’s holdings in Intuitive Surgical were worth $12,946,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Fidelis Capital Partners LLC boosted its holdings in shares of Intuitive Surgical by 5.3% in the 2nd quarter. Fidelis Capital Partners LLC now owns 2,438 shares of the medical equipment provider’s stock valued at $1,095,000 after buying an additional 123 shares during the last quarter. Epoch Investment Partners Inc. raised its position in Intuitive Surgical by 7.1% during the second quarter. Epoch Investment Partners Inc. now owns 1,036 shares of the medical equipment provider’s stock worth $461,000 after acquiring an additional 69 shares in the last quarter. 1832 Asset Management L.P. raised its position in Intuitive Surgical by 7.1% during the second quarter. 1832 Asset Management L.P. now owns 337,638 shares of the medical equipment provider’s stock worth $150,198,000 after acquiring an additional 22,354 shares in the last quarter. Frank Rimerman Advisors LLC lifted its stake in Intuitive Surgical by 137.7% in the second quarter. Frank Rimerman Advisors LLC now owns 9,250 shares of the medical equipment provider’s stock valued at $4,115,000 after acquiring an additional 5,359 shares during the last quarter. Finally, Kowal Investment Group LLC acquired a new position in shares of Intuitive Surgical during the 2nd quarter worth about $299,000. 83.64% of the stock is owned by institutional investors and hedge funds.

Intuitive Surgical Stock Down 0.8 %

ISRG stock opened at $486.20 on Friday. Intuitive Surgical, Inc. has a 52 week low of $254.85 and a 52 week high of $496.18. The business has a 50-day simple moving average of $468.01 and a 200 day simple moving average of $425.12. The company has a market cap of $172.46 billion, a PE ratio of 87.76, a price-to-earnings-growth ratio of 5.41 and a beta of 1.39.

Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Thursday, July 18th. The medical equipment provider reported $1.78 EPS for the quarter, beating the consensus estimate of $1.54 by $0.24. Intuitive Surgical had a net margin of 27.65% and a return on equity of 13.04%. The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same period in the previous year, the company earned $1.18 EPS. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. On average, analysts anticipate that Intuitive Surgical, Inc. will post 5.22 EPS for the current fiscal year.

Insider Activity

In related news, EVP Robert Desantis sold 376 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $446.60, for a total transaction of $167,921.60. Following the completion of the transaction, the executive vice president now directly owns 5,506 shares in the company, valued at approximately $2,458,979.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Intuitive Surgical news, SVP Henry L. Charlton sold 40,243 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $486.84, for a total value of $19,591,902.12. Following the completion of the transaction, the senior vice president now directly owns 3,001 shares in the company, valued at $1,461,006.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert Desantis sold 376 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $446.60, for a total value of $167,921.60. Following the sale, the executive vice president now owns 5,506 shares in the company, valued at $2,458,979.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,120 shares of company stock worth $25,528,753. Corporate insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Intuitive Surgical from $475.00 to $495.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Evercore ISI cut their price objective on Intuitive Surgical from $425.00 to $410.00 and set an “in-line” rating for the company in a research report on Friday, July 19th. The Goldman Sachs Group initiated coverage on Intuitive Surgical in a report on Thursday, May 30th. They set a “buy” rating and a $500.00 target price on the stock. Truist Financial raised their price target on Intuitive Surgical from $450.00 to $515.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Finally, Barclays upped their price objective on shares of Intuitive Surgical from $430.00 to $490.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Intuitive Surgical has an average rating of “Moderate Buy” and a consensus target price of $446.45.

About Intuitive Surgical

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.