CIBC Capital Markets Europe S.A. Takes Position in Intuitive Surgical, Inc. $ISRG

CIBC Capital Markets Europe S.A. bought a new stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 48,252 shares of the medical equipment provider’s stock, valued at approximately $19,189,000. Intuitive Surgical accounts for about 2.6% of CIBC Capital Markets Europe S.A.’s investment portfolio, making the stock its 9th biggest position.

A number of other hedge funds have also recently added to or reduced their stakes in ISRG. Deutsche Bank AG increased its position in Intuitive Surgical by 9.6% in the 4th quarter. Deutsche Bank AG now owns 1,522,191 shares of the medical equipment provider’s stock valued at $862,108,000 after acquiring an additional 132,966 shares during the period. Jag Capital Management LLC acquired a new stake in Intuitive Surgical during the 4th quarter worth approximately $18,771,000. Sycomore Asset Management acquired a new stake in Intuitive Surgical during the 4th quarter worth approximately $10,730,000. Plato Investment Management Ltd purchased a new position in shares of Intuitive Surgical in the 2nd quarter valued at approximately $4,315,000. Finally, AustralianSuper Pty Ltd grew its stake in shares of Intuitive Surgical by 348.6% in the 4th quarter. AustralianSuper Pty Ltd now owns 50,400 shares of the medical equipment provider’s stock valued at $28,545,000 after purchasing an additional 39,166 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Trading Down 0.6%

Shares of ISRG stock opened at $369.83 on Friday. The company has a market cap of $130.65 billion, a price-to-earnings ratio of 42.36, a price-to-earnings-growth ratio of 2.81 and a beta of 1.47. The stock has a 50 day simple moving average of $382.20 and a 200-day simple moving average of $429.04. Intuitive Surgical, Inc. has a 12-month low of $328.57 and a 12-month high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings results on Thursday, July 16th. The medical equipment provider reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.32. Intuitive Surgical had a return on equity of 16.91% and a net margin of 28.45%.The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.83 billion. During the same period in the previous year, the business earned $1.81 earnings per share. The company’s revenue for the quarter was up 18.4% compared to the same quarter last year. On average, equities analysts forecast that Intuitive Surgical, Inc. will post 8.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Intuitive Surgical news, EVP Mark Brosius sold 77 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $375.57, for a total value of $28,918.89. Following the completion of the sale, the executive vice president owned 881 shares of the company’s stock, valued at approximately $330,877.17. This trade represents a 8.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of the business’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $379.00, for a total transaction of $151,600.00. Following the sale, the executive vice president owned 5,320 shares in the company, valued at $2,016,280. The trade was a 6.99% 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. Over the last three months, insiders have sold 11,658 shares of company stock worth $4,649,835. 0.60% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ISRG shares. Bank of America dropped their target price on Intuitive Surgical from $520.00 to $515.00 in a report on Friday, June 12th. HSBC lowered shares of Intuitive Surgical from a “buy” rating to a “hold” rating and set a $391.00 price objective on the stock. in a research report on Thursday, July 30th. Wall Street Zen cut shares of Intuitive Surgical from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. BTIG Research cut their price objective on shares of Intuitive Surgical from $512.00 to $469.00 and set a “buy” rating for the company in a research report on Friday, July 17th. Finally, The Goldman Sachs Group set a $558.00 target price on shares of Intuitive Surgical in a research note on Wednesday, May 27th. Twenty-two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Intuitive Surgical has a consensus rating of “Moderate Buy” and a consensus price target of $508.68.

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.