Uniting Wealth Partners LLC Invests $679,000 in Intuitive Surgical, Inc. $ISRG

Uniting Wealth Partners LLC acquired a new stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,519 shares of the medical equipment provider’s stock, valued at approximately $679,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in shares of Intuitive Surgical in the second quarter valued at approximately $2,569,260,000. Rakuten Investment Management Inc. acquired a new stake in shares of Intuitive Surgical during the third quarter worth $388,436,000. Vanguard Group Inc. lifted its position in Intuitive Surgical by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 33,335,833 shares of the medical equipment provider’s stock valued at $18,115,025,000 after acquiring an additional 670,302 shares in the last quarter. Jennison Associates LLC boosted its stake in Intuitive Surgical by 20.4% in the 2nd quarter. Jennison Associates LLC now owns 3,122,390 shares of the medical equipment provider’s stock worth $1,696,738,000 after purchasing an additional 528,359 shares during the period. Finally, Bessemer Group Inc. boosted its stake in Intuitive Surgical by 89.3% in the 2nd quarter. Bessemer Group Inc. now owns 788,328 shares of the medical equipment provider’s stock worth $428,386,000 after purchasing an additional 371,806 shares during the period. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Myriam Curet sold 421 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $494.96, for a total value of $208,378.16. Following the completion of the sale, the executive vice president directly owned 409 shares in the company, valued at approximately $202,438.64. This trade represents a 50.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gary S. Guthart sold 24,500 shares of Intuitive Surgical stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $530.10, for a total value of $12,987,450.00. Following the transaction, the director owned 3,694 shares of the company’s stock, valued at $1,958,189.40. The trade was a 86.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 56,189 shares of company stock valued at $30,785,441 over the last quarter. 0.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on ISRG. Rothschild & Co Redburn boosted their price target on Intuitive Surgical from $610.00 to $615.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Zacks Research cut Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 21st. The Goldman Sachs Group reaffirmed a “buy” rating and set a $714.00 price target on shares of Intuitive Surgical in a research report on Friday, January 9th. TD Cowen upgraded shares of Intuitive Surgical to a “strong-buy” rating in a report on Tuesday, January 27th. Finally, BTIG Research reissued a “buy” rating and issued a $616.00 price objective on shares of Intuitive Surgical in a research report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $617.23.

Intuitive Surgical Stock Up 1.5%

Shares of Intuitive Surgical stock opened at $485.84 on Friday. The stock has a market cap of $172.54 billion, a P/E ratio of 61.58, a P/E/G ratio of 3.76 and a beta of 1.65. Intuitive Surgical, Inc. has a 12-month low of $425.00 and a 12-month high of $609.08. The business’s 50 day moving average is $541.62 and its 200-day moving average is $510.34.

Intuitive Surgical (NASDAQ:ISRG) last released its earnings results on Thursday, January 22nd. The medical equipment provider reported $2.53 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.26. Intuitive Surgical had a net margin of 28.38% and a return on equity of 15.06%. The business had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.72 billion. During the same period last year, the business earned $2.21 earnings per share. The firm’s revenue was up 18.8% on a year-over-year basis. On average, sell-side analysts expect that Intuitive Surgical, Inc. will post 6.43 EPS for the current 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.