Waycross Partners LLC Raises Stock Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Waycross Partners LLC boosted its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 11.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,710 shares of the medical equipment provider’s stock after buying an additional 5,313 shares during the period. Intuitive Surgical makes up approximately 3.6% of Waycross Partners LLC’s investment portfolio, making the stock its 7th largest position. Waycross Partners LLC’s holdings in Intuitive Surgical were worth $23,448,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Intuitive Surgical by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 30,868,620 shares of the medical equipment provider’s stock worth $12,319,358,000 after acquiring an additional 493,126 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in 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 purchasing an additional 272,741 shares during the last quarter. Capital World Investors boosted its holdings in shares of Intuitive Surgical by 1.0% in the 1st quarter. Capital World Investors now owns 7,284,269 shares of the medical equipment provider’s stock valued at $2,907,079,000 after purchasing an additional 73,634 shares in the last quarter. Edgewood Management LLC increased its stake in shares of Intuitive Surgical by 7.9% in the 4th quarter. Edgewood Management LLC now owns 5,131,066 shares of the medical equipment provider’s stock valued at $1,731,016,000 after purchasing an additional 374,667 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Intuitive Surgical by 4.6% during the 1st quarter. Jennison Associates LLC now owns 4,488,343 shares of the medical equipment provider’s stock worth $1,791,253,000 after buying an additional 198,483 shares in the last quarter. 83.64% of the stock is owned by institutional investors.

Intuitive Surgical Stock Performance

Shares of ISRG opened at $489.86 on Monday. The firm has a market cap of $173.75 billion, a PE ratio of 88.42, a price-to-earnings-growth ratio of 5.41 and a beta of 1.39. Intuitive Surgical, Inc. has a 52-week low of $254.85 and a 52-week high of $496.18. The business’s 50 day moving average price is $463.74 and its two-hundred day moving average price is $422.04.

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

Insiders Place Their Bets

In other news, EVP Myriam Curet sold 2,818 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $458.13, for a total transaction of $1,291,010.34. Following the transaction, the executive vice president now directly owns 298 shares of the company’s stock, valued at $136,522.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 that occurred on Tuesday, July 23rd. The stock was sold at an average price of $458.13, for a total transaction of $641,382.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Myriam Curet sold 2,818 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $458.13, for a total value of $1,291,010.34. Following the completion of the transaction, the executive vice president now owns 298 shares in the company, valued at approximately $136,522.74. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,555 shares of company stock worth $24,267,737. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ISRG. Piper Sandler lifted their target price on Intuitive Surgical from $490.00 to $495.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Redburn Atlantic raised shares of Intuitive Surgical from a “neutral” rating to a “buy” rating and lifted their price target for the company from $380.00 to $510.00 in a report on Friday, August 2nd. JPMorgan Chase & Co. increased their price objective on shares of Intuitive Surgical from $475.00 to $495.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Morgan Stanley boosted their target price on shares of Intuitive Surgical from $375.00 to $460.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Finally, The Goldman Sachs Group began coverage on shares of Intuitive Surgical in a report on Thursday, May 30th. They set a “buy” rating and a $500.00 price target for the company. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Intuitive Surgical currently has an average rating of “Moderate Buy” and an average price target of $446.45.

Intuitive Surgical 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.