Waycross Partners LLC Grows Stock Holdings in Intuitive Surgical, Inc. $ISRG

Waycross Partners LLC grew its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 17.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,474 shares of the medical equipment provider’s stock after buying an additional 7,614 shares during the quarter. Intuitive Surgical accounts for 2.3% of Waycross Partners LLC’s holdings, making the stock its 21st largest holding. Waycross Partners LLC’s holdings in Intuitive Surgical were worth $24,190,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ISRG. Scarborough Advisors LLC lifted its position in shares of Intuitive Surgical by 69.1% during the first quarter. Scarborough Advisors LLC now owns 93 shares of the medical equipment provider’s stock worth $43,000 after purchasing an additional 38 shares in the last quarter. Balefire LLC grew its holdings in shares of Intuitive Surgical by 10.2% in the first quarter. Balefire LLC now owns 885 shares of the medical equipment provider’s stock valued at $408,000 after purchasing an additional 82 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Intuitive Surgical by 0.8% in the first quarter. Parallel Advisors LLC now owns 40,733 shares of the medical equipment provider’s stock valued at $18,778,000 after purchasing an additional 321 shares in the last quarter. AlphaCentric Advisors LLC increased its stake in Intuitive Surgical by 16.7% during the 1st quarter. AlphaCentric Advisors LLC now owns 1,750 shares of the medical equipment provider’s stock worth $807,000 after buying an additional 250 shares during the period. Finally, Nelson Capital Management LLC increased its stake in Intuitive Surgical by 3.0% during the 1st quarter. Nelson Capital Management LLC now owns 7,333 shares of the medical equipment provider’s stock worth $3,380,000 after buying an additional 215 shares during the period. Hedge funds and other institutional investors own 83.64% of the company’s stock.

More Intuitive Surgical News

Here are the key news stories impacting Intuitive Surgical this week:

• Positive Sentiment: Intuitive Surgical reported stronger-than-expected Q2 revenue and earnings, helped by solid demand for its da Vinci robotic surgery systems and continued adoption of its products. Reuters article
• Positive Sentiment: The company still reported healthy procedure growth overall, with worldwide procedures rising and placements of robotic systems remaining strong, which supports the long-term investment case. Yahoo Finance article
• Neutral Sentiment: Several analysts lowered price targets after the report, but most kept bullish ratings such as overweight, buy, or outperform, suggesting Wall Street still sees meaningful upside despite the near-term pullback. Benzinga article
• Negative Sentiment: Management did not raise its forecast for procedure growth, and investors reacted badly to slower U.S. procedure growth and a cautious full-year outlook. Benzinga article
• Negative Sentiment: Reuters also noted concerns that changes to some insurance plans could reduce demand, adding to worries about slower U.S. growth and a softer near-term procedure trajectory. Reuters article

Analyst Ratings Changes

Several equities analysts have commented on the stock. Mizuho set a $500.00 price target on shares of Intuitive Surgical and gave the company a “neutral” rating in a research report on Wednesday. BTIG Research cut their price objective on Intuitive Surgical from $512.00 to $469.00 and set a “buy” rating on the stock in a research report on Friday. Sanford C. Bernstein decreased their target price on Intuitive Surgical from $750.00 to $685.00 and set an “outperform” rating for the company in a report on Friday. Leerink Partners lowered their target price on Intuitive Surgical from $573.00 to $454.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Citigroup cut their price target on Intuitive Surgical from $590.00 to $500.00 and set a “buy” rating on the stock in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $523.46.

Insider Activity at Intuitive Surgical

In other Intuitive Surgical news, EVP Gary Loeb sold 400 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total value of $169,656.00. Following the sale, the executive vice president directly owned 5,720 shares in the company, valued at $2,426,080.80. This trade represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 500 shares of Intuitive Surgical stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $473.46, for a total value of $236,730.00. Following the sale, the director directly owned 239 shares of the company’s stock, valued at $113,156.94. This trade represents a 67.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 7,169 shares of company stock valued at $3,059,135 over the last quarter. 0.60% of the stock is owned by insiders.

Intuitive Surgical Stock Performance

Shares of NASDAQ:ISRG opened at $345.42 on Monday. Intuitive Surgical, Inc. has a 52 week low of $344.55 and a 52 week high of $603.88. The company’s 50 day moving average is $415.28 and its two-hundred day moving average is $467.12. The company has a market cap of $122.33 billion, a PE ratio of 39.57, a P/E/G ratio of 2.80 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.42. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.62 billion. Intuitive Surgical had a net margin of 28.45% and a return on equity of 17.09%. The company’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.81 EPS. As a group, equities research analysts expect that Intuitive Surgical, Inc. will post 8.62 EPS for the current year.

Intuitive Surgical Profile

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.