Defilade Capital Management L.P. Has $31.20 Million Position in Intuitive Surgical, Inc. $ISRG

Defilade Capital Management L.P. lifted its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 48.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,681 shares of the medical equipment provider’s stock after purchasing an additional 22,019 shares during the period. Intuitive Surgical comprises 4.4% of Defilade Capital Management L.P.’s holdings, making the stock its 8th biggest holding. Defilade Capital Management L.P.’s holdings in Intuitive Surgical were worth $31,200,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ISRG. Prosperity Consulting Group LLC lifted its stake in Intuitive Surgical by 0.5% during 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 purchasing an additional 19 shares during the last quarter. Sunburst Financial Group LLC increased its holdings in shares of Intuitive Surgical by 4.3% in the fourth quarter. Sunburst Financial Group LLC now owns 485 shares of the medical equipment provider’s stock valued at $275,000 after buying an additional 20 shares in the last quarter. WoodTrust Financial Corp increased its holdings in shares of Intuitive Surgical by 0.5% in the fourth quarter. WoodTrust Financial Corp now owns 4,180 shares of the medical equipment provider’s stock valued at $2,367,000 after buying an additional 20 shares in the last quarter. North Star Investment Management Corp. increased its holdings in shares of Intuitive Surgical by 8.5% in the fourth quarter. North Star Investment Management Corp. now owns 269 shares of the medical equipment provider’s stock valued at $152,000 after buying an additional 21 shares in the last quarter. Finally, Cornerstone Planning Group LLC lifted its position in shares of Intuitive Surgical by 11.5% during the 4th quarter. Cornerstone Planning Group LLC now owns 203 shares of the medical equipment provider’s stock valued at $106,000 after acquiring an additional 21 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ISRG has been the subject of several research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Intuitive Surgical in a research note on Tuesday, May 19th. The Goldman Sachs Group set a $558.00 target price on Intuitive Surgical in a report on Wednesday, May 27th. Mizuho set a $500.00 price target on Intuitive Surgical and gave the company a “neutral” rating in a research report on Wednesday, July 15th. HSBC cut Intuitive Surgical from a “buy” rating to a “hold” rating and set a $391.00 price target on the stock. in a research note on Thursday. Finally, BTIG Research cut their price objective on Intuitive Surgical from $512.00 to $469.00 and set a “buy” rating on the stock in a report on Friday, July 17th. Twenty investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $509.02.

Intuitive Surgical Stock Performance

NASDAQ ISRG opened at $353.33 on Monday. The firm’s 50 day moving average price is $398.27 and its two-hundred day moving average price is $451.13. Intuitive Surgical, Inc. has a twelve month low of $328.57 and a twelve month high of $603.88. The stock has a market cap of $124.82 billion, a price-to-earnings ratio of 40.47, a PEG ratio of 2.55 and a beta of 1.47.

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

Key Stories Impacting Intuitive Surgical

Here are the key news stories impacting Intuitive Surgical this week:

• Positive Sentiment: UBS upgraded ISRG, arguing that the recent selloff was excessive. The firm’s revised price target of $475 implies meaningful upside and may be supporting renewed investor interest. UBS upgrades Intuitive Surgical
• Positive Sentiment: Intuitive Surgical’s expansion beyond urology into general surgery and other specialties could create additional procedure growth and increase long-term demand for da Vinci systems, instruments and related services. Robotic surgery expansion beyond urology
• Positive Sentiment: Analyst sentiment remains broadly favorable, with the brokerage consensus at “Moderate Buy.” The company’s recurring revenue from instruments and accessories, expanding installed base and durable robotic-surgery demand remain key bullish arguments. Brokerage consensus on Intuitive Surgical
• Neutral Sentiment: Zacks highlighted the unusually high level of investor interest in ISRG, but the article did not provide a new earnings or guidance catalyst. Zacks investor attention report
• Neutral Sentiment: An executive’s small stock sales were made under a pre-arranged Rule 10b5-1 plan and reduced his holdings by roughly 2%, making them unlikely to materially alter the investment case. Intuitive Surgical insider sale
• Negative Sentiment: HSBC lowered Intuitive Surgical from Buy to Hold and set a $391 price target. Although that target remains above recent trading levels, the downgrade signals reduced confidence in the stock’s near-term upside. HSBC downgrades Intuitive Surgical
• Negative Sentiment: Despite a quarterly revenue and earnings beat, investors remain concerned about softer U.S. procedure growth, deferred care and the premium valuation. Those worries have contributed to continued pressure in the shares. Intuitive Surgical post-earnings selloff

Insider Buying and Selling at Intuitive Surgical

In related news, SVP Iman Jeddi sold 5,625 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $420.55, for a total transaction of $2,365,593.75. Following the transaction, the senior vice president directly owned 6,463 shares of the company’s stock, valued at approximately $2,718,014.65. The trade was a 46.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 value of $169,656.00. Following the completion of the sale, the executive vice president directly owned 5,720 shares of the company’s stock, valued at approximately $2,426,080.80. This represents a 6.54% 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. Insiders have sold 6,634 shares of company stock worth $2,796,795 over the last three months. 0.60% of the stock is owned by insiders.

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.