Manning & Napier Advisors LLC Takes $91.47 Million Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Manning & Napier Advisors LLC purchased a new stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) during the 2nd quarter, HoldingsChannel reports. The fund purchased 205,611 shares of the medical equipment provider’s stock, valued at approximately $91,466,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Provence Wealth Management Group purchased a new position in shares of Intuitive Surgical during the 4th quarter valued at about $276,000. Sequoia Financial Advisors LLC raised its holdings in shares of Intuitive Surgical by 58.0% during the 4th quarter. Sequoia Financial Advisors LLC now owns 8,315 shares of the medical equipment provider’s stock valued at $2,805,000 after buying an additional 3,054 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Intuitive Surgical by 5.4% during the 4th quarter. Public Employees Retirement System of Ohio now owns 191,283 shares of the medical equipment provider’s stock valued at $64,531,000 after buying an additional 9,869 shares in the last quarter. HCR Wealth Advisors raised its holdings in shares of Intuitive Surgical by 26.3% during the 4th quarter. HCR Wealth Advisors now owns 1,042 shares of the medical equipment provider’s stock valued at $352,000 after buying an additional 217 shares in the last quarter. Finally, Kades & Cheifetz LLC purchased a new position in shares of Intuitive Surgical during the 4th quarter valued at about $230,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Stock Down 0.0 %

Shares of ISRG traded down $0.19 during mid-day trading on Friday, hitting $463.43. 1,015,313 shares of the company’s stock traded hands, compared to its average volume of 1,568,958. Intuitive Surgical, Inc. has a 1 year low of $254.85 and a 1 year high of $468.78. The firm has a market capitalization of $164.38 billion, a P/E ratio of 83.23, a PEG ratio of 4.97 and a beta of 1.39. The business’s 50-day moving average price is $435.94 and its 200-day moving average price is $403.41.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings results on Thursday, July 18th. The medical equipment provider reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.24. The company had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Intuitive Surgical had a return on equity of 13.04% and a net margin of 27.65%. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.18 earnings per share. Sell-side analysts anticipate that Intuitive Surgical, Inc. will post 5.22 earnings per share for the current fiscal year.

Insider Transactions at Intuitive Surgical

In other news, Director Amal M. Johnson sold 2,943 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $443.30, for a total value of $1,304,631.90. Following the sale, the director now directly owns 12,275 shares of the company’s stock, valued at $5,441,507.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Intuitive Surgical news, Director Amal M. Johnson sold 2,943 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $443.30, for a total value of $1,304,631.90. Following the transaction, the director now owns 12,275 shares of the company’s stock, valued at $5,441,507.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Robert Desantis sold 1,413 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $438.60, for a total value of $619,741.80. Following the completion of the transaction, the executive vice president now directly owns 5,506 shares in the company, valued at approximately $2,414,931.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,766 shares of company stock valued at $6,802,276. Insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ISRG shares. BTIG Research raised their price objective on Intuitive Surgical from $451.00 to $459.00 and gave the company a “buy” rating in a report on Monday, July 15th. Morgan Stanley lifted their price target on Intuitive Surgical from $375.00 to $460.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Robert W. Baird lifted their price target on Intuitive Surgical from $487.00 to $503.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Jefferies Financial Group lifted their price target on Intuitive Surgical from $365.00 to $375.00 and gave the stock a “hold” rating in a research note on Friday, April 19th. Finally, JPMorgan Chase & Co. lifted their price target on Intuitive Surgical from $475.00 to $495.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $442.30.

Intuitive Surgical Company Profile

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.