HWG Holdings LP cut its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 58.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,826 shares of the medical equipment provider’s stock after selling 9,713 shares during the period. Intuitive Surgical comprises approximately 2.6% of HWG Holdings LP’s investment portfolio, making the stock its 16th biggest holding. HWG Holdings LP’s holdings in Intuitive Surgical were worth $3,918,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of ISRG. FMR LLC lifted its position in Intuitive Surgical by 19.2% during the second quarter. FMR LLC now owns 6,629,648 shares of the medical equipment provider’s stock valued at $3,172,155,000 after purchasing an additional 1,068,107 shares during the period. Morgan Stanley lifted its position in Intuitive Surgical by 88.1% during the second quarter. Morgan Stanley now owns 1,301,299 shares of the medical equipment provider’s stock valued at $622,646,000 after purchasing an additional 609,465 shares during the period. Summit Trail Advisors LLC increased its holdings in Intuitive Surgical by 49,853.2% in the first quarter. Summit Trail Advisors LLC now owns 215,798 shares of the medical equipment provider’s stock valued at $216,000 after buying an additional 215,366 shares in the last quarter. Cornerstone Wealth Management LLC purchased a new position in Intuitive Surgical in the second quarter valued at $341,000. Finally, Jennison Associates LLC increased its holdings in Intuitive Surgical by 5,005.3% in the second quarter. Jennison Associates LLC now owns 158,825 shares of the medical equipment provider’s stock valued at $75,995,000 after buying an additional 155,714 shares in the last quarter. Institutional investors own 84.81% of the company’s stock.
A number of research analysts have weighed in on ISRG shares. Goldman Sachs Group lifted their price objective on shares of Intuitive Surgical from $540.00 to $630.00 and gave the company a “buy” rating in a report on Friday, July 20th. Stifel Nicolaus lifted their price objective on shares of Intuitive Surgical from $515.00 to $600.00 and gave the company a “buy” rating in a report on Friday, July 20th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $620.00 price objective (up previously from $510.00) on shares of Intuitive Surgical in a report on Friday, July 20th. Bank of America lifted their price objective on shares of Intuitive Surgical from $510.00 to $600.00 and gave the company a “buy” rating in a report on Tuesday, July 17th. Finally, Citigroup lifted their price objective on shares of Intuitive Surgical from $561.00 to $592.00 and gave the company a “buy” rating in a report on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $538.51.
Intuitive Surgical (NASDAQ:ISRG) last released its earnings results on Thursday, October 18th. The medical equipment provider reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $0.17. The business had revenue of $920.90 million during the quarter, compared to analysts’ expectations of $916.22 million. Intuitive Surgical had a net margin of 23.20% and a return on equity of 20.56%. The company’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.77 earnings per share. As a group, research analysts forecast that Intuitive Surgical, Inc. will post 9.31 EPS for the current fiscal year.
In other news, Director Michael A. Friedman sold 2,070 shares of the business’s stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $541.46, for a total transaction of $1,120,822.20. Following the completion of the sale, the director now owns 5,964 shares of the company’s stock, valued at $3,229,267.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Salvatore Brogna sold 2,652 shares of the business’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $557.39, for a total transaction of $1,478,198.28. Following the sale, the chief operating officer now directly owns 2,049 shares of the company’s stock, valued at approximately $1,142,092.11. The disclosure for this sale can be found here. Insiders have sold 109,463 shares of company stock valued at $57,194,982 in the last three months. Corporate insiders own 2.20% of the company’s stock.
Intuitive Surgical Company Profile
Intuitive Surgical, Inc designs, manufactures, and markets da Vinci surgical systems, and related instruments and accessories. The company's da Vinci surgical System translates a surgeon's natural hand movements, which are performed on instrument controls at a console into corresponding micro-movements of instruments positioned inside the patient through small incisions or ports.
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