CIBC Capital Markets Europe S.A. Makes New $19.19 Million Investment in Intuitive Surgical, Inc. $ISRG

CIBC Capital Markets Europe S.A. purchased a new stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 48,252 shares of the medical equipment provider’s stock, valued at approximately $19,189,000. Intuitive Surgical accounts for approximately 2.6% of CIBC Capital Markets Europe S.A.’s holdings, making the stock its 9th largest holding.

Several other institutional investors have also modified their holdings of the business. Prosperity Consulting Group LLC raised its stake in shares of Intuitive Surgical by 0.5% in the third quarter. Prosperity Consulting Group LLC now owns 4,033 shares of the medical equipment provider’s stock valued at $1,804,000 after acquiring an additional 19 shares in the last quarter. Valeo Financial Advisors LLC grew its stake in Intuitive Surgical by 0.4% during the 4th quarter. Valeo Financial Advisors LLC now owns 4,941 shares of the medical equipment provider’s stock worth $2,798,000 after purchasing an additional 21 shares in the last quarter. Dana Investment Advisors Inc. grew its stake in Intuitive Surgical by 1.9% during the 4th quarter. Dana Investment Advisors Inc. now owns 1,140 shares of the medical equipment provider’s stock worth $646,000 after purchasing an additional 21 shares in the last quarter. Forefront Wealth Partners LLC increased its holdings in Intuitive Surgical by 2.6% during the 4th quarter. Forefront Wealth Partners LLC now owns 819 shares of the medical equipment provider’s stock worth $464,000 after purchasing an additional 21 shares during the period. Finally, High Note Wealth LLC increased its holdings in Intuitive Surgical by 50.0% during the 4th quarter. High Note Wealth LLC now owns 69 shares of the medical equipment provider’s stock worth $39,000 after purchasing an additional 23 shares during the period. Institutional investors and hedge funds own 83.64% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Gary Loeb sold 400 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $379.00, for a total value of $151,600.00. Following the completion of the transaction, the executive vice president directly owned 5,320 shares of the company’s stock, valued at $2,016,280. This represents a 6.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy Ladd sold 400 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $379.00, for a total transaction of $151,600.00. Following the completion of the transaction, the director owned 251 shares in the company, valued at $95,129. This represents a 61.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 11,658 shares of company stock valued at $4,649,835. 0.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ISRG shares. Stifel Nicolaus decreased their price objective on Intuitive Surgical from $670.00 to $550.00 and set a “buy” rating for the company in a research note on Friday, July 17th. Leerink Partners cut their target price on shares of Intuitive Surgical from $573.00 to $454.00 and set an “outperform” rating on the stock in a research note on Friday, July 17th. Oppenheimer raised shares of Intuitive Surgical from a “market perform” rating to an “outperform” rating and set a $500.00 target price on the stock in a report on Wednesday, August 12th. TD Cowen cut shares of Intuitive Surgical from a “buy” rating to a “hold” rating in a report on Tuesday, July 28th. Finally, Wall Street Zen cut shares of Intuitive Surgical from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Twenty-two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Intuitive Surgical currently has an average rating of “Moderate Buy” and a consensus price target of $508.68.

Intuitive Surgical Price Performance

Shares of NASDAQ ISRG opened at $369.83 on Friday. The business has a 50-day moving average of $382.20 and a two-hundred day moving average of $429.04. The company has a market capitalization of $130.65 billion, a price-to-earnings ratio of 42.36, a price-to-earnings-growth ratio of 2.81 and a beta of 1.47. Intuitive Surgical, Inc. has a 1 year low of $328.57 and a 1 year high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings data on Thursday, July 16th. The medical equipment provider reported $2.80 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.32. Intuitive Surgical had a return on equity of 16.91% and a net margin of 28.45%.The business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.83 billion. During the same quarter in the prior year, the business posted $1.81 EPS. The business’s revenue for the quarter was up 18.4% on a year-over-year basis. As a group, equities research analysts expect that Intuitive Surgical, Inc. will post 8.87 earnings per share for the current year.

Intuitive Surgical Company Profile

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.