Cullinan Associates Inc. Grows Stock Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Cullinan Associates Inc. boosted its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 300.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,400 shares of the medical equipment provider’s stock after buying an additional 4,800 shares during the period. Cullinan Associates Inc.’s holdings in Intuitive Surgical were worth $2,554,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Provence Wealth Management Group purchased a new position in shares of Intuitive Surgical in the 4th quarter worth about $276,000. Portside Wealth Group LLC lifted its stake in shares of Intuitive Surgical by 8.2% in the fourth quarter. Portside Wealth Group LLC now owns 816 shares of the medical equipment provider’s stock worth $275,000 after buying an additional 62 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Intuitive Surgical by 58.0% during the fourth quarter. Sequoia Financial Advisors LLC now owns 8,315 shares of the medical equipment provider’s stock valued at $2,805,000 after buying an additional 3,054 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Intuitive Surgical by 5.4% during the fourth quarter. Public Employees Retirement System of Ohio now owns 191,283 shares of the medical equipment provider’s stock valued at $64,531,000 after acquiring an additional 9,869 shares in the last quarter. Finally, HCR Wealth Advisors raised its holdings in Intuitive Surgical by 26.3% in the 4th quarter. HCR Wealth Advisors now owns 1,042 shares of the medical equipment provider’s stock worth $352,000 after acquiring an additional 217 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Price Performance

ISRG stock opened at $438.81 on Wednesday. Intuitive Surgical, Inc. has a 1-year low of $254.85 and a 1-year high of $448.10. The business has a 50 day simple moving average of $405.17 and a two-hundred day simple moving average of $384.28. The company has a market capitalization of $155.65 billion, a price-to-earnings ratio of 79.21, a PEG ratio of 5.75 and a beta of 1.39.

Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Thursday, April 18th. The medical equipment provider reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.10. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.87 billion. Intuitive Surgical had a net margin of 27.16% and a return on equity of 12.91%. Intuitive Surgical’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.00 earnings per share. Sell-side analysts anticipate that Intuitive Surgical, Inc. will post 4.8 EPS for the current fiscal year.

Analyst Ratings Changes

ISRG has been the subject of a number of research analyst reports. Stifel Nicolaus lifted their target price on Intuitive Surgical from $420.00 to $430.00 and gave the stock a “buy” rating in a report on Monday, April 8th. The Goldman Sachs Group initiated coverage on shares of Intuitive Surgical in a report on Thursday, May 30th. They set a “buy” rating and a $500.00 price target on the stock. BTIG Research boosted their price objective on shares of Intuitive Surgical from $412.00 to $421.00 and gave the company a “buy” rating in a report on Friday, April 19th. Jefferies Financial Group raised their target price on shares of Intuitive Surgical from $365.00 to $375.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Finally, Robert W. Baird decreased their target price on shares of Intuitive Surgical from $440.00 to $436.00 and set an “outperform” rating for the company in a research note on Friday, April 19th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $404.79.

Insider Activity

In related news, Director Alan J. Levy sold 2,000 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $370.70, for a total transaction of $741,400.00. Following the completion of the transaction, the director now directly owns 25,319 shares of the company’s stock, valued at $9,385,753.30. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Alan J. Levy sold 2,000 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $370.70, for a total transaction of $741,400.00. Following the sale, the director now owns 25,319 shares of the company’s stock, valued at $9,385,753.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Myriam Curet sold 5,318 shares of Intuitive Surgical stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $370.66, for a total transaction of $1,971,169.88. Following the completion of the transaction, the executive vice president now directly owns 298 shares of the company’s stock, valued at $110,456.68. The disclosure for this sale can be found here. Insiders sold a total of 17,956 shares of company stock worth $6,927,011 over the last 90 days. Corporate insiders own 0.80% of the company’s stock.

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.