Evolutionary Tree Capital Management LLC Takes Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Evolutionary Tree Capital Management LLC purchased a new position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,454 shares of the medical equipment provider’s stock, valued at approximately $1,981,000. Intuitive Surgical makes up approximately 2.0% of Evolutionary Tree Capital Management LLC’s investment portfolio, making the stock its 21st largest position.

A number of other hedge funds have also recently added to or reduced their stakes in ISRG. Alaethes Wealth LLC lifted its holdings in shares of Intuitive Surgical by 0.8% in the 2nd quarter. Alaethes Wealth LLC now owns 5,449 shares of the medical equipment provider’s stock valued at $2,424,000 after buying an additional 41 shares during the period. Legacy Financial Advisors Inc. lifted its holdings in Intuitive Surgical by 5.4% in the second quarter. Legacy Financial Advisors Inc. now owns 1,976 shares of the medical equipment provider’s stock valued at $879,000 after acquiring an additional 101 shares during the period. Summit Trail Advisors LLC boosted its position in shares of Intuitive Surgical by 3.3% during the 2nd quarter. Summit Trail Advisors LLC now owns 4,714 shares of the medical equipment provider’s stock worth $2,097,000 after purchasing an additional 152 shares in the last quarter. Garden State Investment Advisory Services LLC grew its stake in shares of Intuitive Surgical by 7.9% during the 2nd quarter. Garden State Investment Advisory Services LLC now owns 956 shares of the medical equipment provider’s stock worth $425,000 after purchasing an additional 70 shares during the period. Finally, Sei Investments Co. grew its stake in shares of Intuitive Surgical by 1.4% during the 2nd quarter. Sei Investments Co. now owns 527,686 shares of the medical equipment provider’s stock worth $234,734,000 after purchasing an additional 7,080 shares during the period. Institutional investors and hedge funds own 83.64% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on ISRG. Truist Financial upped their price target on Intuitive Surgical from $450.00 to $515.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Evercore ISI dropped their price target on Intuitive Surgical from $425.00 to $410.00 and set an “in-line” rating for the company in a research report on Friday, July 19th. Stifel Nicolaus boosted their price objective on shares of Intuitive Surgical from $430.00 to $475.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Redburn Atlantic upgraded shares of Intuitive Surgical from a “neutral” rating to a “buy” rating and raised their target price for the company from $380.00 to $510.00 in a report on Friday, August 2nd. Finally, Citigroup upped their price target on shares of Intuitive Surgical from $512.00 to $560.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $446.45.

Insider Transactions at Intuitive Surgical

In related news, SVP Henry L. Charlton sold 40,243 shares of Intuitive Surgical stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $486.84, for a total value of $19,591,902.12. Following the transaction, the senior vice president now owns 3,001 shares in the company, valued at $1,461,006.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Mark Brosius sold 2,115 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $491.91, for a total value of $1,040,389.65. Following the transaction, the insider now owns 295 shares of the company’s stock, valued at approximately $145,113.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Henry L. Charlton sold 40,243 shares of Intuitive Surgical stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $486.84, for a total transaction of $19,591,902.12. Following the transaction, the senior vice president now owns 3,001 shares in the company, valued at approximately $1,461,006.84. The disclosure for this sale can be found here. Insiders sold a total of 53,120 shares of company stock worth $25,528,753 in the last ninety days. Insiders own 0.90% of the company’s stock.

Intuitive Surgical Price Performance

ISRG opened at $486.20 on Friday. Intuitive Surgical, Inc. has a 12 month low of $254.85 and a 12 month high of $496.18. The business has a 50-day moving average of $468.01 and a two-hundred day moving average of $425.12. The stock has a market capitalization of $172.46 billion, a price-to-earnings ratio of 87.76, a price-to-earnings-growth ratio of 5.41 and a beta of 1.39.

Intuitive Surgical (NASDAQ:ISRG) last released its earnings results on Thursday, July 18th. The medical equipment provider reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.24. The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.97 billion. Intuitive Surgical had a net margin of 27.65% and a return on equity of 13.04%. Intuitive Surgical’s revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.18 earnings per share. Equities research analysts anticipate that Intuitive Surgical, Inc. will post 5.22 earnings per share for the current year.

About Intuitive Surgical

Intuitive Surgical, Inc develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally. The company offers the da Vinci Surgical System that enables complex surgery using a minimally invasive approach; and Ion endoluminal system, which extends its commercial offerings beyond surgery into diagnostic procedures enabling minimally invasive biopsies in the lung.