Northbridge Financial Group LLC Makes New $1.38 Million Investment in Intuitive Surgical, Inc. $ISRG

Northbridge Financial Group LLC acquired a new position in Intuitive Surgical, Inc. (NASDAQ:ISRG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,430 shares of the medical equipment provider’s stock, valued at approximately $1,376,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings 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 purchasing an additional 263,828 shares during the period. Capital World Investors grew its stake in shares of Intuitive Surgical by 1.5% in the third 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 stake in shares of Intuitive Surgical by 1.1% in the third quarter. Fisher Asset Management LLC now owns 3,889,439 shares of the medical equipment provider’s stock worth $1,739,475,000 after acquiring an additional 40,702 shares during the last quarter. Amundi grew its stake in shares of Intuitive Surgical by 29.7% in the third quarter. Amundi now owns 3,227,472 shares of the medical equipment provider’s stock worth $1,451,362,000 after acquiring an additional 739,444 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in shares of Intuitive Surgical by 11.1% in the fourth quarter. Jennison Associates LLC now owns 3,209,137 shares of the medical equipment provider’s stock worth $1,817,527,000 after acquiring an additional 321,759 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ISRG. Truist Financial cut their target price on Intuitive Surgical from $650.00 to $580.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. HSBC cut their price target 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. Evercore cut their price target on shares of Intuitive Surgical from $550.00 to $480.00 and set a “neutral” rating on the stock in a report on Monday, April 6th. Zacks Research cut shares of Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Finally, BTIG Research reiterated a “buy” rating and set a $574.00 price target on shares of Intuitive Surgical in a report on Wednesday, April 22nd. Nineteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $579.33.

Insider Buying and Selling at Intuitive Surgical

In other news, EVP Gary Loeb sold 400 shares of Intuitive Surgical stock in a transaction on Monday, May 11th. The shares were sold at an average price of $446.95, for a total transaction of $178,780.00. Following the transaction, the executive vice president owned 6,120 shares in the company, valued at $2,735,334. This trade represents a 6.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Patricia L. Wadors sold 220 shares of Intuitive Surgical stock in a transaction on Friday, February 27th. The stock was sold at an average price of $499.71, for a total transaction of $109,936.20. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 5,647 shares of company stock worth $2,760,359. Insiders own 0.60% of the company’s stock.

Intuitive Surgical Stock Performance

Shares of NASDAQ:ISRG opened at $441.58 on Wednesday. The stock has a market capitalization of $156.39 billion, a price-to-earnings ratio of 53.52, a PEG ratio of 3.51 and a beta of 1.51. The stock’s 50-day simple moving average is $461.52 and its two-hundred day simple moving average is $512.36. Intuitive Surgical, Inc. has a 52-week low of $417.74 and a 52-week high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last announced its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.42. The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.62 billion. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The business’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same period last year, the firm posted $1.81 earnings per share. As a group, equities analysts forecast that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current fiscal year.

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.