Intuitive Surgical, Inc. $ISRG Stake Raised by Russell Investments Group Ltd.

Russell Investments Group Ltd. boosted its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 7.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 392,913 shares of the medical equipment provider’s stock after acquiring an additional 25,538 shares during the quarter. Russell Investments Group Ltd. owned 0.11% of Intuitive Surgical worth $175,549,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Intuitive Surgical during the second quarter worth approximately $2,569,260,000. Rakuten Investment Management Inc. acquired a new position in Intuitive Surgical in the 3rd quarter valued at approximately $388,436,000. Vanguard Group Inc. increased its stake 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 buying an additional 670,302 shares during the period. Victory Capital Management Inc. lifted its position in Intuitive Surgical by 41.3% in the 3rd quarter. Victory Capital Management Inc. now owns 1,941,310 shares of the medical equipment provider’s stock worth $868,212,000 after buying an additional 567,483 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in Intuitive Surgical by 27.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,089,293 shares of the medical equipment provider’s stock worth $591,933,000 after buying an additional 231,980 shares in the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on ISRG shares. HSBC boosted their price target on shares of Intuitive Surgical from $644.00 to $653.00 and gave the company a “buy” rating in a report on Monday, January 26th. Robert W. Baird cut their price objective on Intuitive Surgical from $655.00 to $645.00 and set an “outperform” rating for the company in a report on Friday, January 23rd. Truist Financial lifted their price objective on Intuitive Surgical from $620.00 to $650.00 and gave the company a “buy” rating in a research report on Thursday, December 18th. Wall Street Zen downgraded Intuitive Surgical from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, TD Cowen raised Intuitive Surgical to a “strong-buy” rating in a research report on Tuesday, January 27th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Intuitive Surgical presently has a consensus rating of “Moderate Buy” and an average price target of $615.86.

Intuitive Surgical Trading Down 1.3%

Intuitive Surgical stock opened at $490.16 on Monday. The company has a market capitalization of $174.07 billion, a P/E ratio of 62.12, a P/E/G ratio of 3.78 and a beta of 1.66. The firm’s fifty day simple moving average is $521.64 and its 200-day simple moving average is $512.51. Intuitive Surgical, Inc. has a 1-year low of $425.00 and a 1-year high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings data on Thursday, January 22nd. The medical equipment provider reported $2.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.26. The firm had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.72 billion. Intuitive Surgical had a net margin of 28.38% and a return on equity of 15.06%. Intuitive Surgical’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.21 earnings per share. On average, equities research analysts predict that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Insider Buying and Selling

In other news, VP Fredrik Widman sold 133 shares of the stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $494.96, for a total transaction of $65,829.68. Following the transaction, the vice president owned 660 shares of the company’s stock, valued at approximately $326,673.60. This represents a 16.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Mark Brosius sold 648 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $495.20, for a total value of $320,889.60. Following the completion of the transaction, the senior vice president directly owned 2,906 shares in the company, valued at $1,439,051.20. The trade was a 18.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 37,261 shares of company stock valued at $19,690,721. 0.70% of the stock is owned by corporate insiders.

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.