Peregrine Capital Management LLC Trims Stake in Intuitive Surgical, Inc. $ISRG

Peregrine Capital Management LLC trimmed its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 2.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,531 shares of the medical equipment provider’s stock after selling 2,207 shares during the quarter. Intuitive Surgical makes up about 1.4% of Peregrine Capital Management LLC’s portfolio, making the stock its 15th biggest holding. Peregrine Capital Management LLC’s holdings in Intuitive Surgical were worth $47,644,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Tobam boosted its stake in shares of Intuitive Surgical by 666.7% during the 2nd quarter. Tobam now owns 46 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 40 shares in the last quarter. Kilter Group LLC purchased a new stake in shares of Intuitive Surgical in the second quarter valued at approximately $27,000. Princeton Global Asset Management LLC acquired a new position in shares of Intuitive Surgical during the 2nd quarter worth approximately $30,000. Riggs Asset Managment Co. Inc. lifted its position in shares of Intuitive Surgical by 84.2% during 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 in the last quarter. Finally, CBIZ Investment Advisory Services LLC grew its stake in Intuitive Surgical by 49.1% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the medical equipment provider’s stock valued at $41,000 after acquiring an additional 27 shares during the period. 83.64% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Intuitive Surgical

In related news, 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 value of $15,769,728.00. Following the completion of the transaction, the insider directly owned 27,027 shares in the company, valued at approximately $14,798,904.12. This represents a 51.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Myriam Curet sold 7,562 shares of the firm’s stock in a transaction on Tuesday, October 28th. The stock was sold at an average price of $548.43, for a total value of $4,147,227.66. Following the sale, the executive vice president directly owned 353 shares of the company’s stock, valued at approximately $193,595.79. This trade represents a 95.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 114,007 shares of company stock valued at $63,533,844 in the last ninety days. 0.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ISRG. UBS Group set a $600.00 target price on shares of Intuitive Surgical and gave the stock a “neutral” rating in a research note on Thursday, October 23rd. Wells Fargo & Company raised their target price on Intuitive Surgical from $600.00 to $654.00 and gave the company an “overweight” rating in a research report on Friday, December 12th. Hsbc Global Res upgraded Intuitive Surgical to a “strong-buy” rating in a research report on Thursday, October 23rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Intuitive Surgical in a research note on Monday, December 29th. Finally, Raymond James Financial set a $603.00 target price on shares of Intuitive Surgical and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Intuitive Surgical presently has an average rating of “Moderate Buy” and an average target price of $619.88.

Intuitive Surgical Trading Down 1.2%

Shares of ISRG stock opened at $585.08 on Friday. Intuitive Surgical, Inc. has a twelve month low of $425.00 and a twelve month high of $616.00. The company’s 50-day moving average price is $564.92 and its 200-day moving average price is $511.04. The stock has a market cap of $209.74 billion, a price-to-earnings ratio of 77.39, a PEG ratio of 4.82 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 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.41. The company had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.41 billion. Intuitive Surgical had a net margin of 28.58% and a return on equity of 15.08%. Intuitive Surgical’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.84 earnings per share. As a group, equities research analysts predict that Intuitive Surgical, Inc. will post 6.43 EPS 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.