Riverbridge Partners LLC Makes New $30.56 Million Investment in Intuitive Surgical, Inc. $ISRG

Riverbridge Partners LLC acquired a new position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 75,148 shares of the medical equipment provider’s stock, valued at approximately $30,557,000.

Several other large investors also recently added to or reduced their stakes in the stock. Silver Grove Financial Group Inc. lifted its position in Intuitive Surgical by 40.9% in the third quarter. Silver Grove Financial Group Inc. now owns 389 shares of the medical equipment provider’s stock worth $158,000 after buying an additional 113 shares during the last quarter. Inspire Trust Co. N.A. purchased a new position in Intuitive Surgical during the third quarter worth $5,693,000. Bahl & Gaynor LLC increased its position in Intuitive Surgical by 2.1% during the third quarter. Bahl & Gaynor LLC now owns 8,419 shares of the medical equipment provider’s stock valued at $3,423,000 after acquiring an additional 175 shares during the last quarter. Northbridge Financial Group LLC increased its position in Intuitive Surgical by 5.4% during the third quarter. Northbridge Financial Group LLC now owns 2,755 shares of the medical equipment provider’s stock valued at $1,115,000 after acquiring an additional 141 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC increased its position in Intuitive Surgical by 187.2% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 18,905 shares of the medical equipment provider’s stock valued at $7,687,000 after acquiring an additional 12,322 shares during the last quarter. 83.64% of the stock is owned by institutional investors.

Intuitive Surgical Stock Down 2.3%

Shares of Intuitive Surgical stock opened at $450.04 on Wednesday. The stock’s fifty day moving average is $413.15 and its two-hundred day moving average is $431.20. The company has a market capitalization of $156.00 billion, a PE ratio of 54.42, a price-to-earnings-growth ratio of 3.17 and a beta of 1.45. Intuitive Surgical, Inc. has a 52 week low of $328.57 and a 52 week high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Tuesday, October 20th. The medical equipment provider reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.65 by $0.35. The firm had revenue of $3.05 billion during the quarter, compared to analyst estimates of $2.91 billion. Intuitive Surgical had a net margin of 25.54% and a return on equity of 18.17%. The business’s revenue was up 21.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.40 earnings per share. As a group, research analysts anticipate that Intuitive Surgical, Inc. will post 9.37 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. TD Cowen reissued a “buy” rating and issued a $485.00 target price on shares of Intuitive Surgical in a research note on Monday, October 19th. Raymond James Financial reaffirmed an “outperform” rating and set a $480.00 price target on shares of Intuitive Surgical in a research note on Wednesday, October 21st. HSBC downgraded shares of Intuitive Surgical from a “buy” rating to a “hold” rating and set a $391.00 price target on the stock. in a report on Thursday, July 30th. BMO Capital Markets reissued an “outperform” rating on shares of Intuitive Surgical in a research report on Monday, July 20th. Finally, Royal Bank Of Canada reduced their price objective on shares of Intuitive Surgical from $575.00 to $550.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Intuitive Surgical presently has a consensus rating of “Moderate Buy” and a consensus target price of $493.54.

Insider Activity at Intuitive Surgical

In other Intuitive Surgical news, VP Fredrik Widman sold 4,047 shares of the company’s stock in a transaction dated Friday, October 23rd. The shares were sold at an average price of $453.21, for a total value of $1,834,140.87. Following the transaction, the vice president directly owned 1,026 shares in the company, valued at $464,993.46. This represents a 79.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Craig H. Barratt sold 1,150 shares of the company’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $460.00, for a total transaction of $529,000.00. Following the completion of the transaction, the director owned 1,150 shares in the company, valued at $529,000. This represents a 50.00% 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. Insiders have sold a total of 39,056 shares of company stock worth $17,585,864 over the last ninety days. 0.60% of the stock is currently owned by company insiders.

Intuitive Surgical Profile

Intuitive Surgical develops, manufactures and markets robotic-assisted systems for minimally invasive procedures. Its products include da Vinci surgical systems, which allow surgeons to control instruments and a high-definition vision system from a console, as well as the Ion endoluminal system, designed to assist with minimally invasive lung biopsies. The company also provides instruments, accessories, training and support services for its systems. Its technology is used in a range of surgical specialties, including urology, general surgery and gynecology.