Reynders McVeigh Capital Management LLC Sells 60 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

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Reynders McVeigh Capital Management LLC reduced its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 1.8% in the second quarter, HoldingsChannel.com reports. The fund owned 3,245 shares of the medical equipment provider’s stock after selling 60 shares during the quarter. Reynders McVeigh Capital Management LLC’s holdings in Intuitive Surgical were worth $1,702,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Flagship Harbor Advisors LLC raised its position in Intuitive Surgical by 1.8% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 1,073 shares of the medical equipment provider’s stock worth $562,000 after purchasing an additional 19 shares during the period. Destination Wealth Management raised its position in Intuitive Surgical by 14.0% in the 1st quarter. Destination Wealth Management now owns 171 shares of the medical equipment provider’s stock worth $98,000 after purchasing an additional 21 shares during the period. Wetherby Asset Management Inc. increased its position in shares of Intuitive Surgical by 1.3% in the first quarter. Wetherby Asset Management Inc. now owns 1,684 shares of the medical equipment provider’s stock valued at $961,000 after acquiring an additional 21 shares during the period. Lodestar Investment Counsel LLC IL increased its position in shares of Intuitive Surgical by 0.6% in the second quarter. Lodestar Investment Counsel LLC IL now owns 3,549 shares of the medical equipment provider’s stock valued at $1,862,000 after acquiring an additional 21 shares during the period. Finally, Investment House LLC increased its position in shares of Intuitive Surgical by 0.3% in the first quarter. Investment House LLC now owns 9,355 shares of the medical equipment provider’s stock valued at $5,338,000 after acquiring an additional 25 shares during the period. 86.12% of the stock is owned by institutional investors.

In related news, COO Salvatore Brogna sold 1,172 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $500.60, for a total transaction of $586,703.20. Following the transaction, the chief operating officer now owns 5,933 shares in the company, valued at $2,970,059.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Curet Myriam sold 4,974 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $532.14, for a total transaction of $2,646,864.36. Following the transaction, the executive vice president now owns 3,851 shares in the company, valued at approximately $2,049,271.14. The disclosure for this sale can be found here. Insiders have sold 26,000 shares of company stock worth $13,724,409 in the last quarter. 1.70% of the stock is owned by corporate insiders.

Shares of NASDAQ ISRG traded down $15.69 during midday trading on Friday, hitting $484.58. 542,003 shares of the company traded hands, compared to its average volume of 585,042. Intuitive Surgical, Inc. has a 12-month low of $430.24 and a 12-month high of $589.32. The stock has a 50-day moving average price of $518.95 and a 200 day moving average price of $525.26. The firm has a market cap of $55.85 billion, a P/E ratio of 51.06, a P/E/G ratio of 3.72 and a beta of 1.12.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings results on Thursday, July 18th. The medical equipment provider reported $3.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $1.02. Intuitive Surgical had a net margin of 29.95% and a return on equity of 17.35%. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the company earned $2.76 earnings per share. Intuitive Surgical’s quarterly revenue was up 20.9% on a year-over-year basis. Sell-side analysts predict that Intuitive Surgical, Inc. will post 10.15 earnings per share for the current year.

A number of equities analysts have issued reports on the stock. Citigroup decreased their price objective on shares of Intuitive Surgical from $611.00 to $575.00 and set a “buy” rating on the stock in a research report on Tuesday, May 14th. Piper Jaffray Companies boosted their price objective on shares of Intuitive Surgical from $610.00 to $633.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Cantor Fitzgerald set a $620.00 price objective on shares of Intuitive Surgical and gave the company a “buy” rating in a research report on Friday, July 19th. Northland Securities set a $375.00 price objective on shares of Intuitive Surgical and gave the company a “sell” rating in a research report on Friday, July 19th. Finally, Canaccord Genuity restated a “buy” rating and issued a $610.00 price objective (up previously from $575.00) on shares of Intuitive Surgical in a research report on Friday, July 19th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. Intuitive Surgical has a consensus rating of “Hold” and an average price target of $579.92.

About Intuitive Surgical

Intuitive Surgical, Inc designs, manufactures, and markets da Vinci surgical systems, and related instruments and accessories. Its da Vinci Surgical System transforms the surgeon's natural hand movements outside the body into corresponding micro-movements inside the patient's body. The company's da Vinci Surgical System include surgeon's consoles, patient-side carts, 3-D vision systems, da Vinci skills simulators, da Vinci Xi integrated table motions, and Firefly fluorescence imaging products that enable surgeons to perform various surgical procedures, including gynecologic, urologic, general, cardiothoracic, and head and neck surgical procedures.

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Institutional Ownership by Quarter for Intuitive Surgical (NASDAQ:ISRG)

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