ADAR1 Capital Management LLC Makes New Investment in Intuitive Surgical, Inc. $ISRG

ADAR1 Capital Management LLC bought a new stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 700 shares of the medical equipment provider’s stock, valued at approximately $347,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Promethium Advisors LLC lifted its stake in shares of Intuitive Surgical by 56.3% during the 1st quarter. Promethium Advisors LLC now owns 700 shares of the medical equipment provider’s stock worth $347,000 after acquiring an additional 252 shares during the last quarter. Paragon Private Wealth Management LLC grew its position in Intuitive Surgical by 29.0% in the 1st quarter. Paragon Private Wealth Management LLC now owns 1,437 shares of the medical equipment provider’s stock valued at $712,000 after acquiring an additional 323 shares during the last quarter. Rench Wealth Management Inc. lifted its position in shares of Intuitive Surgical by 1.6% during the first quarter. Rench Wealth Management Inc. now owns 14,777 shares of the medical equipment provider’s stock worth $7,319,000 after purchasing an additional 231 shares during the last quarter. Federation des caisses Desjardins du Quebec boosted its stake in shares of Intuitive Surgical by 24.0% during the first quarter. Federation des caisses Desjardins du Quebec now owns 11,845 shares of the medical equipment provider’s stock valued at $5,866,000 after purchasing an additional 2,291 shares during the period. Finally, Dark Forest Capital Management LP boosted its stake in shares of Intuitive Surgical by 120.7% during the first quarter. Dark Forest Capital Management LP now owns 7,870 shares of the medical equipment provider’s stock valued at $3,898,000 after purchasing an additional 4,304 shares during the period. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Intuitive Surgical Stock Performance

NASDAQ:ISRG opened at $473.30 on Tuesday. The firm has a 50-day simple moving average of $499.62 and a 200-day simple moving average of $516.13. Intuitive Surgical, Inc. has a one year low of $425.00 and a one year high of $616.00. The firm has a market cap of $169.67 billion, a P/E ratio of 66.01, a P/E/G ratio of 4.96 and a beta of 1.61.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings data on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.26. The firm had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%.The firm’s quarterly revenue was up 21.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.78 EPS. On average, research analysts predict that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ISRG shares. Zacks Research downgraded shares of Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 20th. Citigroup restated a “buy” rating and issued a $650.00 target price (up from $590.00) on shares of Intuitive Surgical in a research note on Thursday, May 22nd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $615.00 target price on shares of Intuitive Surgical in a research report on Tuesday, August 19th. Erste Group Bank reiterated a “hold” rating on shares of Intuitive Surgical in a report on Wednesday, July 23rd. Finally, Wall Street Zen raised Intuitive Surgical from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Thirteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $595.95.

Insider Activity at Intuitive Surgical

In related news, EVP Myriam Curet sold 4,500 shares of the firm’s stock in a transaction on Friday, July 25th. The shares were sold at an average price of $492.48, for a total transaction of $2,216,160.00. Following the completion of the transaction, the executive vice president owned 353 shares of the company’s stock, valued at $173,845.44. This trade represents a 92.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction, the senior vice president owned 907 shares of the company’s stock, valued at approximately $510,740.77. This represents a 19.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,624 shares of company stock valued at $7,778,924 in the last ninety days. Company insiders own 0.70% of the company’s stock.

Intuitive Surgical Company 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.