Park Avenue Securities LLC Buys New Position in Intuitive Surgical, Inc. $ISRG

Park Avenue Securities LLC bought a new stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 18,264 shares of the medical equipment provider’s stock, valued at approximately $8,168,000.

Several other hedge funds have also made changes to their positions in ISRG. Tobam grew its holdings in shares of Intuitive Surgical by 666.7% in the second quarter. Tobam now owns 46 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 40 shares in the last quarter. Kilter Group LLC acquired a new stake in Intuitive Surgical during the 2nd quarter worth approximately $27,000. Princeton Global Asset Management LLC acquired a new stake in Intuitive Surgical during the 2nd quarter worth approximately $30,000. Riggs Asset Managment Co. Inc. boosted its position in Intuitive Surgical by 84.2% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 70 shares of the medical equipment provider’s stock valued at $38,000 after buying an additional 32 shares during the period. Finally, CBIZ Investment Advisory Services LLC grew its stake in shares of Intuitive Surgical by 49.1% in the first quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the medical equipment provider’s stock worth $41,000 after acquiring an additional 27 shares in the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.

Wall Street Analyst Weigh In

ISRG has been the topic of several analyst reports. Leerink Partners increased their price objective on Intuitive Surgical from $593.00 to $600.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Hsbc Global Res upgraded Intuitive Surgical to a “strong-buy” rating in a report on Thursday, October 23rd. BTIG Research reaffirmed a “buy” rating and issued a $616.00 price target (up previously from $589.00) on shares of Intuitive Surgical in a research report on Wednesday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Intuitive Surgical in a research note on Monday, December 29th. Finally, HSBC upped their target price on shares of Intuitive Surgical from $595.00 to $644.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Intuitive Surgical presently has a consensus rating of “Moderate Buy” and an average target price of $616.00.

Insider Activity at Intuitive Surgical

In other news, EVP Myriam Curet sold 104 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $559.90, for a total transaction of $58,229.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Mark Brosius sold 464 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $548.49, for a total transaction of $254,499.36. Following the completion of the transaction, the senior vice president owned 131 shares of the company’s stock, valued at approximately $71,852.19. The trade was a 77.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 114,007 shares of company stock valued at $63,533,844 in the last quarter. Company insiders own 0.70% of the company’s stock.

Intuitive Surgical Price Performance

Shares of NASDAQ ISRG opened at $592.27 on Thursday. The business has a 50-day moving average of $563.81 and a two-hundred day moving average of $510.52. The company has a market capitalization of $212.32 billion, a price-to-earnings ratio of 78.34, a price-to-earnings-growth ratio of 4.82 and a beta of 1.67. Intuitive Surgical, Inc. has a 1 year low of $425.00 and a 1 year high of $616.00.

Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Tuesday, October 21st. The medical equipment provider reported $2.40 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.41. The business had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.41 billion. Intuitive Surgical had a return on equity of 15.08% and a net margin of 28.58%.The business’s quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter last year, the company earned $1.84 EPS. As a group, equities research analysts expect that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

About Intuitive Surgical

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.