Deltec Asset Management LLC Buys New Stake in Intuitive Surgical, Inc. $ISRG

Deltec Asset Management LLC purchased a new stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,000 shares of the medical equipment provider’s stock, valued at approximately $894,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Trilogy Capital Inc. increased its holdings in shares of Intuitive Surgical by 23.8% in the 3rd quarter. Trilogy Capital Inc. now owns 5,406 shares of the medical equipment provider’s stock valued at $2,418,000 after purchasing an additional 1,038 shares in the last quarter. Forum Financial Management LP grew its position in Intuitive Surgical by 23.3% during the third quarter. Forum Financial Management LP now owns 2,624 shares of the medical equipment provider’s stock worth $1,174,000 after buying an additional 495 shares during the period. Legacy Trust grew its position in Intuitive Surgical by 3.5% during the third quarter. Legacy Trust now owns 11,291 shares of the medical equipment provider’s stock worth $5,050,000 after buying an additional 379 shares during the period. Fairfield Financial Advisors LTD lifted its position in shares of Intuitive Surgical by 1.7% during the 3rd quarter. Fairfield Financial Advisors LTD now owns 6,688 shares of the medical equipment provider’s stock valued at $2,991,000 after acquiring an additional 113 shares during the period. Finally, Parnassus Investments LLC boosted its stake in shares of Intuitive Surgical by 2.8% during the 3rd quarter. Parnassus Investments LLC now owns 2,789 shares of the medical equipment provider’s stock worth $1,247,000 after acquiring an additional 77 shares in the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Mark Brosius sold 4,500 shares of the business’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $547.36, for a total transaction of $2,463,120.00. Following the completion of the sale, the senior vice president owned 907 shares in the company, valued at approximately $496,455.52. The trade was a 83.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gary S. Guthart sold 28,800 shares of the stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $547.56, for a total transaction of $15,769,728.00. Following the sale, the insider directly owned 27,027 shares of the company’s stock, valued at approximately $14,798,904.12. This trade represents a 51.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 114,007 shares of company stock worth $63,533,844. 0.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ISRG. HSBC raised their price objective on Intuitive Surgical from $595.00 to $644.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. UBS Group set a $600.00 price target on Intuitive Surgical and gave the company a “neutral” rating in a research report on Thursday, October 23rd. Sanford C. Bernstein reiterated an “outperform” rating and issued a $740.00 price objective (up from $700.00) on shares of Intuitive Surgical in a research report on Friday. Rothschild & Co Redburn increased their price objective on shares of Intuitive Surgical from $610.00 to $615.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Finally, Jefferies Financial Group lifted their target price on shares of Intuitive Surgical from $550.00 to $560.00 and gave the stock a “hold” rating in a research report on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $622.17.

Intuitive Surgical Stock Up 0.2%

Shares of ISRG opened at $586.24 on Friday. Intuitive Surgical, Inc. has a fifty-two week low of $425.00 and a fifty-two week high of $616.00. The company’s fifty day moving average is $565.95 and its two-hundred day moving average is $511.45. The firm has a market cap of $210.16 billion, a PE ratio of 77.55, a price-to-earnings-growth ratio of 4.77 and a beta of 1.67.

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. Intuitive Surgical had a return on equity of 15.08% and a net margin of 28.58%.The business had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period last year, the company posted $1.84 EPS. The business’s quarterly revenue was up 22.9% on a year-over-year basis. As a group, equities research analysts anticipate 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.