Munro Partners Buys 19,265 Shares of Intuitive Surgical, Inc. $ISRG

Munro Partners increased its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 21.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 109,390 shares of the medical equipment provider’s stock after buying an additional 19,265 shares during the period. Intuitive Surgical accounts for about 1.6% of Munro Partners’ portfolio, making the stock its 22nd largest holding. Munro Partners’ holdings in Intuitive Surgical were worth $61,954,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Temasek Holdings Private Ltd bought a new stake in Intuitive Surgical in the 4th quarter valued at about $24,920,000. Abound Financial LLC acquired a new position in shares of Intuitive Surgical in the 4th quarter valued at approximately $250,000. L2 Asset Management LLC raised its position in shares of Intuitive Surgical by 6.0% in the 4th quarter. L2 Asset Management LLC now owns 1,773 shares of the medical equipment provider’s stock valued at $1,004,000 after buying an additional 100 shares in the last quarter. 71 West Capital Partners acquired a new position in shares of Intuitive Surgical in the 4th quarter valued at approximately $675,000. Finally, SurgoCap Partners LP acquired a new position in shares of Intuitive Surgical in the 4th quarter valued at approximately $148,868,000. Institutional investors own 83.64% of the company’s stock.

Insider Activity

In other news, SVP Iman Jeddi sold 5,625 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $420.55, for a total value of $2,365,593.75. Following the completion of the sale, the senior vice president owned 6,463 shares in the company, valued at $2,718,014.65. This represents a 46.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 119 shares of the stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $463.50, for a total transaction of $55,156.50. Following the completion of the sale, the director owned 120 shares of the company’s stock, valued at approximately $55,620. This represents a 49.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 7,169 shares of company stock worth $3,059,135 over the last quarter. Insiders own 0.60% of the company’s stock.

Intuitive Surgical Trading Up 1.3%

Intuitive Surgical stock opened at $416.55 on Tuesday. Intuitive Surgical, Inc. has a 1-year low of $396.68 and a 1-year high of $603.88. The firm has a market capitalization of $147.53 billion, a price-to-earnings ratio of 50.49, a price-to-earnings-growth ratio of 3.28 and a beta of 1.46. The firm’s fifty day moving average price is $442.17 and its two-hundred day moving average price is $494.54.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.42. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same period last year, the firm earned $1.81 earnings per share. The business’s quarterly revenue was up 23.0% compared to the same quarter last year. On average, research analysts forecast that Intuitive Surgical, Inc. will post 8.57 EPS for the current year.

Wall Street Analysts Forecast Growth

ISRG has been the subject of a number of research analyst reports. Truist Financial lowered their price objective on shares of Intuitive Surgical from $650.00 to $580.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Bank of America reduced their target price on shares of Intuitive Surgical from $650.00 to $520.00 and set a “buy” rating on the stock in a report on Monday, May 18th. HSBC reduced their target price on shares of Intuitive Surgical from $653.00 to $604.00 and set a “buy” rating on the stock in a report on Wednesday, April 22nd. Citigroup raised shares of Intuitive Surgical from a “neutral” rating to a “buy” rating and set a $590.00 price objective on the stock in a research note on Wednesday, March 11th. Finally, Barclays set a $651.00 price objective on shares of Intuitive Surgical and gave the company an “overweight” rating in a research note on Thursday, April 23rd. Nineteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Intuitive Surgical presently has an average rating of “Moderate Buy” and a consensus price target of $571.28.

Intuitive Surgical Profile

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon’s hand movements into finer, scaled motions of small instruments inside the patient. Intuitive’s business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.