Spirepoint Private Client LLC Makes New Investment in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Spirepoint Private Client LLC acquired a new position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,137 shares of the medical equipment provider’s stock, valued at approximately $454,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its holdings in shares of Intuitive Surgical by 1.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,973,266 shares of the medical equipment provider’s stock worth $5,726,102,000 after acquiring an additional 272,741 shares during the period. Edgewood Management LLC raised its holdings in shares of Intuitive Surgical by 7.9% during the fourth quarter. Edgewood Management LLC now owns 5,131,066 shares of the medical equipment provider’s stock worth $1,731,016,000 after acquiring an additional 374,667 shares during the period. Fisher Asset Management LLC grew its position in Intuitive Surgical by 2.0% in the fourth quarter. Fisher Asset Management LLC now owns 4,494,373 shares of the medical equipment provider’s stock valued at $1,516,222,000 after purchasing an additional 88,977 shares in the last quarter. Jennison Associates LLC grew its position in Intuitive Surgical by 4.6% in the first quarter. Jennison Associates LLC now owns 4,488,343 shares of the medical equipment provider’s stock valued at $1,791,253,000 after purchasing an additional 198,483 shares in the last quarter. Finally, Norges Bank bought a new position in Intuitive Surgical in the fourth quarter valued at $1,313,238,000. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Intuitive Surgical Stock Performance

ISRG traded up $38.87 on Friday, reaching $455.01. The company had a trading volume of 4,201,310 shares, compared to its average volume of 1,643,900. Intuitive Surgical, Inc. has a fifty-two week low of $254.85 and a fifty-two week high of $456.81. The stock has a market cap of $161.39 billion, a P/E ratio of 82.13, a P/E/G ratio of 5.87 and a beta of 1.39. The company’s fifty day moving average is $422.05 and its 200 day moving average is $394.21.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings results on Thursday, July 18th. The medical equipment provider reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.24. Intuitive Surgical had a net margin of 27.65% and a return on equity of 13.40%. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the prior year, the business earned $1.18 EPS. Intuitive Surgical’s quarterly revenue was up 14.5% on a year-over-year basis. On average, sell-side analysts expect that Intuitive Surgical, Inc. will post 4.8 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ISRG shares. Piper Sandler raised their target price on shares of Intuitive Surgical from $490.00 to $495.00 and gave the company an “overweight” rating in a research report on Friday. Stifel Nicolaus raised their target price on shares of Intuitive Surgical from $430.00 to $475.00 and gave the company a “buy” rating in a research report on Friday. Morgan Stanley raised their target price on shares of Intuitive Surgical from $375.00 to $460.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. JPMorgan Chase & Co. raised their target price on shares of Intuitive Surgical from $475.00 to $495.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Truist Financial raised their target price on shares of Intuitive Surgical from $450.00 to $515.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Intuitive Surgical presently has a consensus rating of “Moderate Buy” and a consensus target price of $438.74.

Insider Activity at Intuitive Surgical

In other Intuitive Surgical news, EVP Myriam Curet sold 5,318 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $370.66, for a total value of $1,971,169.88. Following the completion of the sale, the executive vice president now owns 298 shares of the company’s stock, valued at approximately $110,456.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intuitive Surgical news, Director Craig H. Barratt sold 1,400 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $421.06, for a total value of $589,484.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Myriam Curet sold 5,318 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $370.66, for a total transaction of $1,971,169.88. Following the completion of the sale, the executive vice president now directly owns 298 shares of the company’s stock, valued at approximately $110,456.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,956 shares of company stock worth $6,927,011. Insiders own 0.90% of the company’s stock.

About Intuitive Surgical

Intuitive Surgical, Inc develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally. The company offers the da Vinci Surgical System that enables complex surgery using a minimally invasive approach; and Ion endoluminal system, which extends its commercial offerings beyond surgery into diagnostic procedures enabling minimally invasive biopsies in the lung.