NewEdge Wealth LLC Grows Stock Position in Intuitive Surgical, Inc. $ISRG

NewEdge Wealth LLC lifted its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 57.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 27,585 shares of the medical equipment provider’s stock after buying an additional 10,095 shares during the period. NewEdge Wealth LLC’s holdings in Intuitive Surgical were worth $15,623,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Intuitive Surgical by 0.8% in the third quarter. Vanguard Group Inc. now owns 33,599,661 shares of the medical equipment provider’s stock worth $15,026,776,000 after acquiring an additional 263,828 shares during the period. Capital World Investors boosted its stake in shares of Intuitive Surgical by 1.5% during the 3rd quarter. Capital World Investors now owns 7,728,492 shares of the medical equipment provider’s stock worth $3,456,223,000 after acquiring an additional 116,034 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Intuitive Surgical by 1.1% during the 3rd quarter. Fisher Asset Management LLC now owns 3,889,439 shares of the medical equipment provider’s stock valued at $1,739,475,000 after acquiring an additional 40,702 shares during the period. Amundi grew its position in shares of Intuitive Surgical by 29.7% during the 3rd quarter. Amundi now owns 3,227,472 shares of the medical equipment provider’s stock valued at $1,451,362,000 after acquiring an additional 739,444 shares during the period. Finally, Jennison Associates LLC increased its stake in shares of Intuitive Surgical by 11.1% in the 4th quarter. Jennison Associates LLC now owns 3,209,137 shares of the medical equipment provider’s stock worth $1,817,527,000 after purchasing an additional 321,759 shares in the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Stock Performance

Shares of Intuitive Surgical stock opened at $450.06 on Friday. The company has a market capitalization of $159.39 billion, a P/E ratio of 54.55, a P/E/G ratio of 3.59 and a beta of 1.51. The company has a fifty day moving average of $472.19 and a 200 day moving average of $517.39. Intuitive Surgical, Inc. has a fifty-two week low of $427.84 and a fifty-two week high of $603.88.

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

Insider Activity

In related news, EVP Myriam Curet sold 105 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $493.95, for a total value of $51,864.75. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Patricia L. Wadors sold 220 shares of the company’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $499.71, for a total value of $109,936.20. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 5,906 shares of company stock valued at $2,907,726 in the last three months. 0.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ISRG. Barclays set a $651.00 target price on Intuitive Surgical and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Piper Sandler reduced their price target on Intuitive Surgical from $620.00 to $580.00 and set an “overweight” rating for the company in a research report on Wednesday, April 22nd. Evercore decreased their price objective on Intuitive Surgical from $550.00 to $480.00 and set a “neutral” rating on the stock in a research note on Monday, April 6th. JPMorgan Chase & Co. lowered their price objective on Intuitive Surgical from $625.00 to $550.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 22nd. Finally, Mizuho set a $525.00 price objective on Intuitive Surgical and gave the company a “neutral” rating in a research note on Monday, April 13th. Eighteen 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $581.91.

Intuitive Surgical Company 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.