Pincus Capital Management LP Buys Shares of 1,665 Intuitive Surgical, Inc. $ISRG

Pincus Capital Management LP acquired a new stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) during the 4th quarter, Holdings Channel.com reports. The firm acquired 1,665 shares of the medical equipment provider’s stock, valued at approximately $943,000. Intuitive Surgical comprises approximately 0.6% of Pincus Capital Management LP’s portfolio, making the stock its 29th largest position.

Several other institutional investors and hedge funds have also made changes to their positions in ISRG. Holos Integrated Wealth LLC purchased a new stake in shares of Intuitive Surgical in the fourth quarter valued at $25,000. Newbridge Financial Services Group Inc. lifted its position in shares of Intuitive Surgical by 300.0% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 33 shares in the last quarter. Greykasell Wealth Strategies Inc. purchased a new stake in shares of Intuitive Surgical in the third quarter valued at $27,000. Olistico Wealth LLC purchased a new stake in shares of Intuitive Surgical in the fourth quarter valued at $28,000. Finally, Caitlin John LLC purchased a new stake in shares of Intuitive Surgical in the third quarter valued at $30,000. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Intuitive Surgical Price Performance

Intuitive Surgical stock opened at $412.26 on Tuesday. The stock’s 50-day moving average is $452.19 and its 200-day moving average is $504.81. The company has a market cap of $146.01 billion, a price-to-earnings ratio of 49.97, a price-to-earnings-growth ratio of 3.39 and a beta of 1.46. Intuitive Surgical, Inc. has a 12 month low of $411.83 and a 12 month high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.42. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.62 billion. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The company’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same period last year, the business posted $1.81 EPS. Research analysts anticipate that Intuitive Surgical, Inc. will post 8.57 EPS for the current year.

Insider Transactions at Intuitive Surgical

In other news, EVP Myriam Curet sold 105 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $493.95, for a total value of $51,864.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Gary Loeb sold 400 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $446.95, for a total value of $178,780.00. Following the completion of the transaction, the executive vice president owned 6,120 shares in the company, valued at approximately $2,735,334. This trade represents a 6.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 4,833 shares of company stock valued at $2,357,582. 0.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ISRG. Wall Street Zen downgraded Intuitive Surgical from a “buy” rating to a “hold” rating in a research report on Sunday, May 24th. Piper Sandler reduced their price objective on Intuitive Surgical from $620.00 to $580.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Intuitive Surgical in a research report on Tuesday, May 19th. Barclays set a $651.00 price objective on Intuitive Surgical and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Finally, HSBC reduced their price objective on Intuitive Surgical from $653.00 to $604.00 and set a “buy” rating on the stock in a research report on Wednesday, April 22nd. Nineteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Intuitive Surgical currently has an average rating of “Moderate Buy” and a consensus price target of $576.71.

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.