Whitener Capital Management Inc. boosted its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 1.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,961 shares of the medical equipment provider’s stock after acquiring an additional 30 shares during the quarter. Whitener Capital Management Inc.’s holdings in Intuitive Surgical were worth $1,028,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Manchester Financial Inc. bought a new position in shares of Intuitive Surgical in the second quarter valued at approximately $25,000. Icon Wealth Partners LLC bought a new position in shares of Intuitive Surgical in the first quarter valued at approximately $26,000. Advisory Alpha LLC bought a new position in shares of Intuitive Surgical in the first quarter valued at approximately $32,000. Ellis Investment Partners LLC bought a new position in shares of Intuitive Surgical in the first quarter valued at approximately $34,000. Finally, FTB Advisors Inc. raised its position in shares of Intuitive Surgical by 333.3% in the first quarter. FTB Advisors Inc. now owns 78 shares of the medical equipment provider’s stock valued at $44,000 after purchasing an additional 60 shares during the period. 86.09% of the stock is currently owned by hedge funds and other institutional investors.
In other news, COO Salvatore Brogna sold 1,172 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $500.60, for a total value of $586,703.20. Following the sale, the chief operating officer now owns 5,933 shares in the company, valued at approximately $2,970,059.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jamie Samath sold 259 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $532.14, for a total transaction of $137,824.26. Following the completion of the sale, the vice president now owns 277 shares in the company, valued at approximately $147,402.78. The disclosure for this sale can be found here. Insiders have sold 25,655 shares of company stock worth $13,552,920 in the last quarter. Corporate insiders own 1.70% of the company’s stock.
Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings results on Thursday, July 18th. The medical equipment provider reported $3.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.23 by $1.02. Intuitive Surgical had a net margin of 29.95% and a return on equity of 17.35%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the company earned $2.76 earnings per share. The business’s revenue was up 20.9% compared to the same quarter last year. Sell-side analysts anticipate that Intuitive Surgical, Inc. will post 10.15 earnings per share for the current fiscal year.
A number of research firms have recently commented on ISRG. BTIG Research reissued a “hold” rating on shares of Intuitive Surgical in a research report on Sunday, April 21st. Piper Jaffray Companies boosted their target price on shares of Intuitive Surgical from $610.00 to $633.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. BidaskClub raised shares of Intuitive Surgical from a “hold” rating to a “buy” rating in a research report on Tuesday, June 11th. Northland Securities set a $375.00 target price on shares of Intuitive Surgical and gave the stock a “sell” rating in a research report on Friday, July 19th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $610.00 target price (up previously from $575.00) on shares of Intuitive Surgical in a research report on Friday, July 19th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $579.92.
Intuitive Surgical Profile
Intuitive Surgical, Inc designs, manufactures, and markets da Vinci surgical systems, and related instruments and accessories. Its da Vinci Surgical System transforms the surgeon's natural hand movements outside the body into corresponding micro-movements inside the patient's body. The company's da Vinci Surgical System include surgeon's consoles, patient-side carts, 3-D vision systems, da Vinci skills simulators, da Vinci Xi integrated table motions, and Firefly fluorescence imaging products that enable surgeons to perform various surgical procedures, including gynecologic, urologic, general, cardiothoracic, and head and neck surgical procedures.
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