Gabelli Funds LLC Raises Stake in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Gabelli Funds LLC grew its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 1.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 90,192 shares of the medical equipment provider’s stock after purchasing an additional 1,430 shares during the quarter. Gabelli Funds LLC’s holdings in Intuitive Surgical were worth $30,840,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Commonwealth Equity Services LLC boosted its stake in shares of Intuitive Surgical by 1.0% during the second quarter. Commonwealth Equity Services LLC now owns 55,130 shares of the medical equipment provider’s stock valued at $18,851,000 after purchasing an additional 570 shares during the period. Oarsman Capital Inc. purchased a new stake in shares of Intuitive Surgical during the second quarter valued at $207,000. Johnson Investment Counsel Inc. boosted its stake in shares of Intuitive Surgical by 10.6% during the second quarter. Johnson Investment Counsel Inc. now owns 24,650 shares of the medical equipment provider’s stock valued at $8,429,000 after purchasing an additional 2,357 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Intuitive Surgical by 14.9% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,196,674 shares of the medical equipment provider’s stock worth $408,883,000 after acquiring an additional 155,098 shares during the period. Finally, Shelton Capital Management lifted its stake in Intuitive Surgical by 2.2% in the second quarter. Shelton Capital Management now owns 44,526 shares of the medical equipment provider’s stock worth $15,225,000 after acquiring an additional 957 shares during the period. 82.91% of the stock is owned by hedge funds and other institutional investors.

Intuitive Surgical Stock Up 0.4 %

Shares of ISRG traded up $1.33 during mid-day trading on Friday, hitting $305.28. 2,993,483 shares of the company traded hands, compared to its average volume of 1,772,118. Intuitive Surgical, Inc. has a 1-year low of $222.65 and a 1-year high of $358.07. The company has a market capitalization of $107.48 billion, a PE ratio of 71.83, a price-to-earnings-growth ratio of 4.85 and a beta of 1.31. The business has a 50 day moving average of $284.26 and a 200 day moving average of $305.11.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings results on Thursday, October 19th. The medical equipment provider reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.06. Intuitive Surgical had a net margin of 22.14% and a return on equity of 12.91%. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the company earned $0.90 EPS. Intuitive Surgical’s quarterly revenue was up 12.0% on a year-over-year basis. As a group, research analysts expect that Intuitive Surgical, Inc. will post 4.54 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Amy L. Ladd sold 500 shares of the stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $305.68, for a total value of $152,840.00. Following the transaction, the director now owns 702 shares in the company, valued at approximately $214,587.36. The sale was disclosed in a filing with the SEC, which is available through this link. In other Intuitive Surgical news, CEO Gary S. Guthart sold 27,385 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $260.11, for a total value of $7,123,112.35. Following the sale, the chief executive officer now owns 23,551 shares in the company, valued at approximately $6,125,850.61. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Amy L. Ladd sold 500 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $305.68, for a total value of $152,840.00. Following the completion of the sale, the director now owns 702 shares in the company, valued at approximately $214,587.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,208 shares of company stock worth $15,275,529. 0.90% of the stock is owned by company insiders.

Analyst Ratings Changes

ISRG has been the subject of a number of research reports. Morgan Stanley lowered their price objective on shares of Intuitive Surgical from $330.00 to $300.00 and set an “equal weight” rating for the company in a research note on Monday, October 23rd. HSBC initiated coverage on shares of Intuitive Surgical in a research note on Friday. They issued a “buy” rating and a $318.00 price objective for the company. TheStreet raised shares of Intuitive Surgical from a “c+” rating to a “b” rating in a research note on Monday, July 24th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $355.00 price objective on shares of Intuitive Surgical in a research note on Friday, October 20th. Finally, SVB Leerink began coverage on shares of Intuitive Surgical in a report on Monday, October 16th. They issued an “outperform” rating and a $342.00 target price for the company. Five research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $342.71.

About Intuitive Surgical

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 to enable 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.