Intech Investment Management LLC Increases Stake in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Intech Investment Management LLC raised its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 23.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,346 shares of the medical equipment provider’s stock after acquiring an additional 5,067 shares during the quarter. Intech Investment Management LLC’s holdings in Intuitive Surgical were worth $12,943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC lifted its position in Intuitive Surgical by 49,383.6% during the third quarter. International Assets Investment Management LLC now owns 1,090,619 shares of the medical equipment provider’s stock valued at $535,788,000 after purchasing an additional 1,088,415 shares in the last quarter. Strategic Financial Concepts LLC raised its stake in shares of Intuitive Surgical by 40,221.4% in the second quarter. Strategic Financial Concepts LLC now owns 266,121 shares of the medical equipment provider’s stock worth $1,184,000 after buying an additional 265,461 shares during the period. Manning & Napier Advisors LLC purchased a new position in shares of Intuitive Surgical during the 2nd quarter valued at about $91,466,000. Assenagon Asset Management S.A. grew its stake in shares of Intuitive Surgical by 15.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,483,406 shares of the medical equipment provider’s stock valued at $659,893,000 after acquiring an additional 197,841 shares during the period. Finally, Swedbank AB purchased a new stake in Intuitive Surgical in the 1st quarter worth approximately $74,379,000. Institutional investors own 83.64% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on ISRG. Royal Bank of Canada upped their price target on shares of Intuitive Surgical from $525.00 to $555.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Truist Financial upped their target price on shares of Intuitive Surgical from $520.00 to $570.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Citigroup raised their price target on Intuitive Surgical from $512.00 to $560.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. JPMorgan Chase & Co. upped their price objective on Intuitive Surgical from $495.00 to $575.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, Erste Group Bank raised Intuitive Surgical from a “hold” rating to a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Intuitive Surgical has an average rating of “Moderate Buy” and an average target price of $524.61.

Insider Buying and Selling at Intuitive Surgical

In other news, EVP Robert Desantis sold 188 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $482.21, for a total transaction of $90,655.48. Following the transaction, the executive vice president now owns 5,506 shares of the company’s stock, valued at approximately $2,655,048.26. The trade was a 3.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jamie Samath sold 269 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $539.89, for a total value of $145,230.41. Following the completion of the sale, the insider now owns 8,757 shares of the company’s stock, valued at approximately $4,727,816.73. This represents a 2.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,935 shares of company stock worth $26,305,169 over the last ninety days. Company insiders own 0.90% of the company’s stock.

Intuitive Surgical Stock Performance

Shares of ISRG opened at $550.43 on Friday. Intuitive Surgical, Inc. has a fifty-two week low of $304.50 and a fifty-two week high of $551.78. The company’s fifty day moving average is $503.57 and its 200 day moving average is $461.88. The stock has a market capitalization of $196.05 billion, a PE ratio of 88.49, a P/E/G ratio of 5.30 and a beta of 1.39.

Intuitive Surgical (NASDAQ:ISRG) last announced its earnings results on Thursday, October 17th. The medical equipment provider reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.32. Intuitive Surgical had a net margin of 28.51% and a return on equity of 13.41%. The firm had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.01 billion. As a group, research analysts forecast that Intuitive Surgical, Inc. will post 5.45 earnings per share for the current year.

Intuitive Surgical 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.