Iron Triangle Partners LP Cuts Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Iron Triangle Partners LP trimmed its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 40.5% during the third quarter, Holdings Channel reports. The institutional investor owned 72,001 shares of the medical equipment provider’s stock after selling 48,985 shares during the period. Intuitive Surgical makes up about 4.9% of Iron Triangle Partners LP’s holdings, making the stock its 7th largest position. Iron Triangle Partners LP’s holdings in Intuitive Surgical were worth $35,372,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ISRG. Massachusetts Financial Services Co. MA bought a new stake in Intuitive Surgical during the third quarter worth approximately $558,807,000. International Assets Investment Management LLC boosted its position in shares of Intuitive Surgical by 49,383.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,090,619 shares of the medical equipment provider’s stock valued at $535,788,000 after purchasing an additional 1,088,415 shares during the period. FMR LLC increased its stake in Intuitive Surgical by 8.3% in the 3rd quarter. FMR LLC now owns 10,971,085 shares of the medical equipment provider’s stock worth $5,389,765,000 after purchasing an additional 838,793 shares in the last quarter. Strategic Financial Concepts LLC raised its holdings in Intuitive Surgical by 40,221.4% during the 2nd quarter. Strategic Financial Concepts LLC now owns 266,121 shares of the medical equipment provider’s stock worth $1,184,000 after buying an additional 265,461 shares during the period. Finally, Manning & Napier Advisors LLC purchased a new stake in Intuitive Surgical during the second quarter valued at about $91,466,000. 83.64% of the stock is owned by institutional investors and hedge funds.

Intuitive Surgical Trading Up 0.2 %

NASDAQ ISRG opened at $542.85 on Tuesday. Intuitive Surgical, Inc. has a 12 month low of $304.50 and a 12 month high of $552.00. The business’s 50-day moving average price is $510.03 and its two-hundred day moving average price is $469.49. The firm has a market capitalization of $193.35 billion, a PE ratio of 87.28, a price-to-earnings-growth ratio of 5.33 and a beta of 1.38.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings data on Thursday, October 17th. The medical equipment provider reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.32. Intuitive Surgical had a return on equity of 13.41% and a net margin of 28.51%. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.01 billion. As a group, analysts forecast that Intuitive Surgical, Inc. will post 5.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Jamie Samath sold 22,903 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $525.00, for a total transaction of $12,024,075.00. Following the sale, the insider now directly owns 8,757 shares in the company, valued at approximately $4,597,425. This represents a 72.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Gary Loeb sold 300 shares of Intuitive Surgical stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $475.00, for a total transaction of $142,500.00. Following the completion of the transaction, the general counsel now owns 1,595 shares of the company’s stock, valued at $757,625. This represents a 15.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,023 shares of company stock valued at $26,384,247. 0.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ISRG. The Goldman Sachs Group set a $604.00 price target on shares of Intuitive Surgical in a report on Friday, October 18th. Morgan Stanley upgraded Intuitive Surgical from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $522.00 to $650.00 in a report on Monday. Citigroup upped their price target on Intuitive Surgical from $512.00 to $560.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Leerink Partners raised their price objective on Intuitive Surgical from $489.00 to $502.00 in a research report on Thursday, October 17th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $538.00 target price (up previously from $495.00) on shares of Intuitive Surgical in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Intuitive Surgical presently has an average rating of “Moderate Buy” and an average target price of $536.61.

Intuitive Surgical 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.