Platinum Investment Management Ltd. Acquires Shares of 389 Intuitive Surgical, Inc. $ISRG

Platinum Investment Management Ltd. acquired a new stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 389 shares of the medical equipment provider’s stock, valued at approximately $211,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Chilton Capital Management LLC raised its position in shares of Intuitive Surgical by 614.3% in the first quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 43 shares during the last quarter. Elite Financial Inc. acquired a new stake in shares of Intuitive Surgical in the first quarter valued at about $26,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of Intuitive Surgical in the first quarter valued at about $30,000. TD Capital Management LLC raised its position in shares of Intuitive Surgical by 300.0% in the first quarter. TD Capital Management LLC now owns 60 shares of the medical equipment provider’s stock valued at $30,000 after buying an additional 45 shares during the last quarter. Finally, 1248 Management LLC acquired a new stake in shares of Intuitive Surgical in the first quarter valued at about $30,000. 83.64% of the stock is owned by hedge funds and other institutional investors.

Intuitive Surgical Price Performance

Shares of ISRG stock opened at $438.04 on Thursday. The firm has a market cap of $157.03 billion, a PE ratio of 61.09, a price-to-earnings-growth ratio of 4.69 and a beta of 1.61. The company has a 50-day moving average of $465.33 and a two-hundred day moving average of $500.54. Intuitive Surgical, Inc. has a 1-year low of $425.00 and a 1-year high of $616.00.

Intuitive Surgical (NASDAQ:ISRG) last announced its earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.26. The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.35 billion. Intuitive Surgical had a net margin of 28.51% and a return on equity of 14.56%. Intuitive Surgical’s revenue was up 21.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.78 earnings per share. Sell-side analysts anticipate that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other Intuitive Surgical news, EVP Myriam Curet sold 4,500 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $492.48, for a total transaction of $2,216,160.00. Following the completion of the transaction, the executive vice president owned 353 shares of the company’s stock, valued at $173,845.44. This trade represents a 92.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Amy L. Ladd sold 336 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $470.11, for a total transaction of $157,956.96. Following the transaction, the director directly owned 1,074 shares of the company’s stock, valued at approximately $504,898.14. This trade represents a 23.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,224 shares of company stock valued at $21,716,492 over the last 90 days. 0.70% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ISRG shares. Piper Sandler reiterated an “overweight” rating and issued a $595.00 target price (up from $575.00) on shares of Intuitive Surgical in a research report on Wednesday, July 23rd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $615.00 target price on shares of Intuitive Surgical in a research report on Tuesday, August 19th. Evercore ISI increased their target price on shares of Intuitive Surgical from $470.00 to $550.00 and gave the company an “in-line” rating in a research report on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of Intuitive Surgical in a research report on Friday, August 22nd. Finally, Truist Financial raised their price objective on shares of Intuitive Surgical from $590.00 to $600.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. Fourteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $594.19.

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.