King Luther Capital Management Corp Grows Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

King Luther Capital Management Corp grew its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 2.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,670 shares of the medical equipment provider’s stock after buying an additional 114 shares during the period. King Luther Capital Management Corp’s holdings in Intuitive Surgical were worth $2,522,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ISRG. Bridges Investment Management Inc. boosted its stake in Intuitive Surgical by 137.9% during the second quarter. Bridges Investment Management Inc. now owns 158,591 shares of the medical equipment provider’s stock worth $70,549,000 after acquiring an additional 91,916 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Intuitive Surgical by 20.5% during the second quarter. Canada Pension Plan Investment Board now owns 973,492 shares of the medical equipment provider’s stock valued at $433,058,000 after purchasing an additional 165,712 shares during the last quarter. Benjamin Edwards Inc. boosted its position in shares of Intuitive Surgical by 93.0% in the 2nd quarter. Benjamin Edwards Inc. now owns 5,497 shares of the medical equipment provider’s stock worth $2,445,000 after purchasing an additional 2,649 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of Intuitive Surgical by 5.5% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 6,450 shares of the medical equipment provider’s stock worth $2,870,000 after buying an additional 338 shares during the last quarter. Finally, GM Advisory Group LLC increased its position in Intuitive Surgical by 3.5% during the 2nd quarter. GM Advisory Group LLC now owns 4,213 shares of the medical equipment provider’s stock valued at $1,874,000 after buying an additional 141 shares in the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

Intuitive Surgical Stock Performance

Shares of ISRG stock opened at $486.20 on Friday. The stock’s 50-day simple moving average is $468.01 and its 200-day simple moving average is $425.12. The firm has a market capitalization of $172.46 billion, a PE ratio of 87.76, a P/E/G ratio of 5.41 and a beta of 1.39. Intuitive Surgical, Inc. has a fifty-two week low of $254.85 and a fifty-two week high of $496.18.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ISRG shares. Evercore ISI cut their target price on Intuitive Surgical from $425.00 to $410.00 and set an “in-line” rating on the stock in a research note on Friday, July 19th. Stifel Nicolaus upped their target price on shares of Intuitive Surgical from $430.00 to $475.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Robert W. Baird increased their price target on shares of Intuitive Surgical from $487.00 to $503.00 and gave the company an “outperform” rating in a report on Friday, July 19th. The Goldman Sachs Group began coverage on Intuitive Surgical in a research report on Thursday, May 30th. They issued a “buy” rating and a $500.00 price objective on the stock. Finally, Barclays increased their target price on Intuitive Surgical from $430.00 to $490.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $446.45.

Insider Buying and Selling at Intuitive Surgical

In related news, insider Mark Brosius sold 2,115 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $491.91, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Intuitive Surgical news, Director Craig H. Barratt sold 1,400 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $458.13, for a total value of $641,382.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mark Brosius sold 2,115 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now owns 295 shares in the company, valued at approximately $145,113.45. The disclosure for this sale can be found here. Insiders have sold 53,120 shares of company stock worth $25,528,753 in the last ninety days. 0.90% of the stock is owned by insiders.

Intuitive Surgical Company Profile

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.