Peregrine Capital Management LLC Sells 6,561 Shares of Intuitive Surgical, Inc. $ISRG

Peregrine Capital Management LLC lowered its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 6.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 99,739 shares of the medical equipment provider’s stock after selling 6,561 shares during the quarter. Intuitive Surgical comprises about 1.7% of Peregrine Capital Management LLC’s holdings, making the stock its 9th biggest holding. Peregrine Capital Management LLC’s holdings in Intuitive Surgical were worth $45,979,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MQS Management LLC acquired a new stake in shares of Intuitive Surgical during the 1st quarter worth approximately $513,000. Eagle Wealth Advisors LLC increased its stake in Intuitive Surgical by 15.7% during the first quarter. Eagle Wealth Advisors LLC now owns 1,237 shares of the medical equipment provider’s stock worth $570,000 after acquiring an additional 168 shares during the last quarter. Premier Path Wealth Partners LLC increased its stake in Intuitive Surgical by 7.8% during the first quarter. Premier Path Wealth Partners LLC now owns 3,119 shares of the medical equipment provider’s stock worth $1,438,000 after acquiring an additional 225 shares during the last quarter. Mayflower Financial Advisors LLC raised its position in Intuitive Surgical by 5.8% in the first quarter. Mayflower Financial Advisors LLC now owns 491 shares of the medical equipment provider’s stock valued at $226,000 after purchasing an additional 27 shares during the period. Finally, SevenBridge Financial Group LLC raised its position in Intuitive Surgical by 3.9% in the first quarter. SevenBridge Financial Group LLC now owns 9,417 shares of the medical equipment provider’s stock valued at $4,554,000 after purchasing an additional 350 shares during the period. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Intuitive Surgical Stock Down 2.0%

ISRG opened at $397.68 on Wednesday. Intuitive Surgical, Inc. has a 52 week low of $396.68 and a 52 week high of $603.88. The business has a fifty day simple moving average of $430.20 and a 200-day simple moving average of $481.84. The firm has a market cap of $140.84 billion, a P/E ratio of 48.20, a P/E/G ratio of 3.30 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.42. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the previous year, the business earned $1.81 EPS. The company’s quarterly revenue was up 23.0% compared to the same quarter last year. Sell-side analysts expect that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current year.

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, Director Amy L. Ladd sold 500 shares of the business’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $473.46, for a total transaction of $236,730.00. Following the sale, the director directly owned 239 shares in the company, valued at $113,156.94. This represents a 67.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total transaction of $169,656.00. Following the sale, the executive vice president directly owned 5,720 shares in the company, valued at $2,426,080.80. This represents a 6.54% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 7,169 shares of company stock valued at $3,059,135 in the last three months. 0.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Mizuho set a $525.00 price target on Intuitive Surgical and gave the stock a “neutral” rating in a report on Monday, April 13th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Intuitive Surgical from $440.00 to $366.00 and set a “sell” rating on the stock in a report on Tuesday, June 2nd. Jefferies Financial Group decreased 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 report on Wednesday, April 22nd. JPMorgan Chase & Co. lowered their target price on shares of Intuitive Surgical from $625.00 to $550.00 and set an “overweight” rating for the company in a research note on Wednesday, April 22nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Intuitive Surgical in a research report on Tuesday, May 19th. Nineteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $573.42.

Intuitive Surgical 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.