MidAtlantic Capital Management Inc. Takes Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

MidAtlantic Capital Management Inc. purchased a new position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 68 shares of the medical equipment provider’s stock, valued at approximately $33,000.

Other hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC grew its position in shares of Intuitive Surgical by 49,383.6% during the third quarter. International Assets Investment Management LLC now owns 1,090,619 shares of the medical equipment provider’s stock worth $535,788,000 after acquiring an additional 1,088,415 shares during the last quarter. Capital Research Global Investors bought a new position in Intuitive Surgical in the 1st quarter worth about $374,390,000. Strategic Financial Concepts LLC increased its stake in shares of Intuitive Surgical by 40,221.4% in the second quarter. Strategic Financial Concepts LLC now owns 266,121 shares of the medical equipment provider’s stock valued at $1,184,000 after purchasing an additional 265,461 shares during the period. Canada Pension Plan Investment Board raised its holdings in shares of Intuitive Surgical by 36.4% during the first quarter. Canada Pension Plan Investment Board now owns 807,780 shares of the medical equipment provider’s stock valued at $322,377,000 after buying an additional 215,444 shares during the last quarter. Finally, Manning & Napier Advisors LLC acquired a new position in shares of Intuitive Surgical during the second quarter worth approximately $91,466,000. Institutional investors own 83.64% of the company’s stock.

Insider Activity at Intuitive Surgical

In other news, SVP Henry L. Charlton sold 40,243 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $486.84, for a total transaction of $19,591,902.12. Following the sale, the senior vice president now owns 3,001 shares in the company, valued at $1,461,006.84. This represents a 93.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Gary Loeb sold 300 shares of the firm’s stock in a transaction 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 directly 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. Over the last ninety days, insiders sold 91,178 shares of company stock valued at $45,897,071. Insiders own 0.90% of the company’s stock.

Intuitive Surgical Trading Up 0.8 %

Shares of NASDAQ ISRG opened at $531.64 on Tuesday. The company has a fifty day moving average price of $500.33 and a 200 day moving average price of $459.58. The firm has a market cap of $189.36 billion, a PE ratio of 85.47, a PEG ratio of 5.19 and a beta of 1.39. Intuitive Surgical, Inc. has a 1-year low of $304.50 and a 1-year high of $544.38.

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ISRG shares. Redburn Atlantic raised Intuitive Surgical from a “neutral” rating to a “buy” rating and increased their price target for the stock from $380.00 to $510.00 in a research note on Friday, August 2nd. Oppenheimer reissued a “market perform” rating on shares of Intuitive Surgical in a research note on Friday, October 18th. Robert W. Baird boosted their price target on shares of Intuitive Surgical from $503.00 to $565.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Raymond James raised their price objective on shares of Intuitive Surgical from $500.00 to $540.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, Truist Financial boosted their target price on Intuitive Surgical from $520.00 to $570.00 and gave the stock a “buy” rating in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Intuitive Surgical presently has a consensus rating of “Moderate Buy” and an average target price of $524.61.

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.