Morse Asset Management Inc increased its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 21.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,259 shares of the medical equipment provider’s stock after purchasing an additional 395 shares during the period. Morse Asset Management Inc’s holdings in Intuitive Surgical were worth $1,185,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of ISRG. Manchester Financial Inc. bought a new position in Intuitive Surgical in the 2nd quarter worth approximately $25,000. Icon Wealth Partners LLC bought a new stake in shares of Intuitive Surgical during the 1st quarter valued at $26,000. Advisory Alpha LLC bought a new stake in shares of Intuitive Surgical during the 1st quarter valued at $32,000. Ellis Investment Partners LLC bought a new stake in shares of Intuitive Surgical during the 1st quarter valued at $34,000. Finally, FTB Advisors Inc. raised its position in shares of Intuitive Surgical by 333.3% during the 1st quarter. FTB Advisors Inc. now owns 78 shares of the medical equipment provider’s stock valued at $44,000 after acquiring an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.
Several analysts have commented on the stock. Piper Jaffray Companies upped their target price on shares of Intuitive Surgical from $610.00 to $633.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Citigroup dropped their target price on shares of Intuitive Surgical from $611.00 to $575.00 and set a “buy” rating for the company in a research report on Tuesday, May 14th. ValuEngine cut shares of Intuitive Surgical from a “hold” rating to a “sell” rating in a research report on Friday, July 12th. UBS Group set a $560.00 target price on shares of Intuitive Surgical and gave the company a “hold” rating in a research report on Friday, July 19th. Finally, BTIG Research reiterated a “hold” rating on shares of Intuitive Surgical in a research report on Sunday, April 21st. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $579.92.
Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings results on Thursday, July 18th. The medical equipment provider reported $3.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $1.02. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.03 billion. Intuitive Surgical had a net margin of 29.95% and a return on equity of 17.35%. The firm’s revenue was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.76 EPS. As a group, equities research analysts expect that Intuitive Surgical, Inc. will post 10.15 earnings per share for the current year.
In related news, Director Lonnie M. Smith sold 227 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $493.39, for a total value of $111,999.53. Following the completion of the transaction, the director now directly owns 359,696 shares of the company’s stock, valued at approximately $177,470,409.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Jamie Samath sold 130 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $500.60, for a total transaction of $65,078.00. Following the completion of the transaction, the vice president now directly owns 219 shares of the company’s stock, valued at $109,631.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,882 shares of company stock valued at $13,664,919. Company insiders own 1.70% of the company’s stock.
About Intuitive Surgical
Intuitive Surgical, Inc designs, manufactures, and markets da Vinci surgical systems, and related instruments and accessories. Its da Vinci Surgical System transforms the surgeon's natural hand movements outside the body into corresponding micro-movements inside the patient's body. The company's da Vinci Surgical System include surgeon's consoles, patient-side carts, 3-D vision systems, da Vinci skills simulators, da Vinci Xi integrated table motions, and Firefly fluorescence imaging products that enable surgeons to perform various surgical procedures, including gynecologic, urologic, general, cardiothoracic, and head and neck surgical procedures.
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