MV Capital Management Inc. Raises Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

MV Capital Management Inc. boosted its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 92.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 532 shares of the medical equipment provider’s stock after buying an additional 256 shares during the period. MV Capital Management Inc.’s holdings in Intuitive Surgical were worth $263,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Atala Financial Inc purchased a new stake in Intuitive Surgical in the fourth quarter worth about $25,000. Hurley Capital LLC purchased a new stake in Intuitive Surgical in the fourth quarter worth about $28,000. Parvin Asset Management LLC purchased a new stake in Intuitive Surgical in the fourth quarter worth about $26,000. BankPlus Trust Department purchased a new stake in Intuitive Surgical in the fourth quarter worth about $28,000. Finally, Global Financial Private Client LLC lifted its holdings in Intuitive Surgical by 253.3% in the first quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider’s stock worth $26,000 after buying an additional 38 shares during the period. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Intuitive Surgical Stock Up 0.7%

Shares of ISRG opened at $529.60 on Wednesday. The company has a market capitalization of $189.82 billion, a P/E ratio of 82.62, a price-to-earnings-growth ratio of 5.85 and a beta of 1.67. The firm has a 50 day moving average of $523.08 and a 200 day moving average of $538.95. Intuitive Surgical, Inc. has a twelve month low of $413.82 and a twelve month high of $616.00.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings results on Tuesday, April 22nd. The medical equipment provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.10. The company had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.19 billion. Intuitive Surgical had a net margin of 27.81% and a return on equity of 14.55%. During the same quarter last year, the firm earned $1.50 earnings per share. On average, sell-side analysts expect that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

Insiders Place Their Bets

In other Intuitive Surgical news, SVP Mark Brosius sold 216 shares of Intuitive Surgical stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $563.11, for a total value of $121,631.76. Following the completion of the sale, the senior vice president now owns 907 shares of the company’s stock, valued at approximately $510,740.77. The trade was a 19.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jami K. Nachtsheim sold 2,400 shares of Intuitive Surgical stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $520.00, for a total transaction of $1,248,000.00. Following the completion of the sale, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $3,312,920. This trade represents a 27.36% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,543 shares of company stock valued at $8,375,072. Company insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Evercore ISI decreased their target price on shares of Intuitive Surgical from $510.00 to $470.00 and set an “in-line” rating for the company in a research note on Wednesday, April 23rd. Citigroup reaffirmed a “buy” rating and set a $650.00 target price (up previously from $590.00) on shares of Intuitive Surgical in a research note on Thursday, May 22nd. BTIG Research set a $560.00 target price on shares of Intuitive Surgical and gave the company a “buy” rating in a research note on Monday, April 14th. Erste Group Bank raised shares of Intuitive Surgical from a “hold” rating to a “buy” rating in a research note on Thursday, June 5th. Finally, Royal Bank of Canada decreased their target price on shares of Intuitive Surgical from $630.00 to $605.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Intuitive Surgical presently has an average rating of “Moderate Buy” and an average target price of $588.95.

Intuitive Surgical Profile

Intuitive Surgical, Inc develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally. The company offers the da Vinci Surgical System that enables complex surgery using a minimally invasive approach; and Ion endoluminal system, which extends its commercial offerings beyond surgery into diagnostic procedures enabling minimally invasive biopsies in the lung.