Main Street Research LLC Increases Holdings in Intuitive Surgical, Inc. (ISRG)
Main Street Research LLC raised its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 5,446.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 29,784 shares of the medical equipment provider’s stock after acquiring an additional 29,247 shares during the period. Intuitive Surgical accounts for about 2.5% of Main Street Research LLC’s holdings, making the stock its 14th biggest holding. Main Street Research LLC’s holdings in Intuitive Surgical were worth $17,096,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in ISRG. Adviser Investments LLC acquired a new stake in shares of Intuitive Surgical in the second quarter valued at approximately $115,000. Signet Financial Management LLC acquired a new stake in shares of Intuitive Surgical in the second quarter valued at approximately $115,000. Arrow Financial Corp acquired a new position in Intuitive Surgical during the third quarter worth $115,000. JNBA Financial Advisors acquired a new position in Intuitive Surgical during the third quarter worth $115,000. Finally, Pendal Group Ltd acquired a new position in Intuitive Surgical during the third quarter worth $118,000. 84.16% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on the stock. Piper Jaffray Companies upgraded shares of Intuitive Surgical from a “neutral” rating to an “overweight” rating and set a $600.00 target price on the stock in a report on Tuesday, October 9th. BidaskClub upgraded shares of Intuitive Surgical from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 16th. Canaccord Genuity upgraded shares of Intuitive Surgical from a “hold” rating to a “buy” rating and boosted their target price for the stock from $550.00 to $610.00 in a report on Friday, October 19th. They noted that the move was a valuation call. Goldman Sachs Group boosted their target price on shares of Intuitive Surgical from $540.00 to $630.00 and gave the stock a “buy” rating in a report on Friday, July 20th. Finally, Wells Fargo & Co boosted their target price on shares of Intuitive Surgical from $575.00 to $635.00 and gave the stock an “outperform” rating in a report on Wednesday, September 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have issued a buy rating to the company’s stock. Intuitive Surgical currently has a consensus rating of “Buy” and a consensus price target of $554.64.
ISRG stock opened at $519.69 on Wednesday. Intuitive Surgical, Inc. has a one year low of $359.75 and a one year high of $581.12. The firm has a market cap of $58.95 billion, a price-to-earnings ratio of 72.28, a P/E/G ratio of 3.47 and a beta of 1.02.
Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings data on Thursday, October 18th. The medical equipment provider reported $2.83 EPS for the quarter, topping the Zacks’ consensus estimate of $2.66 by $0.17. Intuitive Surgical had a net margin of 22.31% and a return on equity of 18.79%. The firm had revenue of $920.90 million during the quarter, compared to analysts’ expectations of $916.22 million. During the same period in the previous year, the business posted $2.77 earnings per share. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. On average, equities analysts predict that Intuitive Surgical, Inc. will post 9.52 EPS for the current year.
Intuitive Surgical Company Profile
Intuitive Surgical, Inc designs, manufactures, and markets da Vinci surgical systems, and related instruments and accessories. The company's da Vinci surgical System translates a surgeon's natural hand movements, which are performed on instrument controls at a console into corresponding micro-movements of instruments positioned inside the patient through small incisions or ports.
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