Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Intuitive Surgical, Inc. (NASDAQ:ISRG) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 23,116 shares of the medical equipment provider’s stock, valued at approximately $11,356,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. NS Partners Ltd boosted its stake in shares of Intuitive Surgical by 2.3% during the third quarter. NS Partners Ltd now owns 73,518 shares of the medical equipment provider’s stock valued at $36,117,000 after purchasing an additional 1,632 shares during the period. Kirtland Hills Capital Management LLC lifted its holdings in Intuitive Surgical by 15.6% during the 3rd quarter. Kirtland Hills Capital Management LLC now owns 978 shares of the medical equipment provider’s stock valued at $480,000 after buying an additional 132 shares in the last quarter. Strategy Asset Managers LLC grew its stake in Intuitive Surgical by 60.9% in the 3rd quarter. Strategy Asset Managers LLC now owns 3,254 shares of the medical equipment provider’s stock worth $1,599,000 after acquiring an additional 1,231 shares in the last quarter. Prospera Private Wealth LLC increased its position in shares of Intuitive Surgical by 1,587.2% during the third quarter. Prospera Private Wealth LLC now owns 12,519 shares of the medical equipment provider’s stock worth $6,150,000 after acquiring an additional 11,777 shares during the period. Finally, West Family Investments Inc. raised its stake in shares of Intuitive Surgical by 32.4% during the third quarter. West Family Investments Inc. now owns 968 shares of the medical equipment provider’s stock valued at $476,000 after acquiring an additional 237 shares in the last quarter. 83.64% of the stock is owned by institutional investors.

Intuitive Surgical Price Performance

Shares of ISRG stock opened at $550.43 on Friday. The business has a fifty day moving average of $503.57 and a 200 day moving average of $461.88. The firm has a market capitalization of $196.05 billion, a price-to-earnings ratio of 88.49, a price-to-earnings-growth ratio of 5.30 and a beta of 1.39. Intuitive Surgical, Inc. has a 1 year low of $304.50 and a 1 year high of $551.78.

Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Thursday, October 17th. The medical equipment provider reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.32. Intuitive Surgical had a return on equity of 13.41% and a net margin of 28.51%. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.01 billion. As a group, equities research analysts expect that Intuitive Surgical, Inc. will post 5.45 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the company. Robert W. Baird raised their price objective on Intuitive Surgical from $503.00 to $565.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Erste Group Bank upgraded Intuitive Surgical from a “hold” rating to a “buy” rating in a report on Tuesday. Mizuho increased their target price on shares of Intuitive Surgical from $440.00 to $500.00 in a report on Thursday, October 17th. Truist Financial boosted their price target on shares of Intuitive Surgical from $520.00 to $570.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Evercore ISI reissued a “cautious” rating on shares of Intuitive Surgical in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Intuitive Surgical has an average rating of “Moderate Buy” and a consensus price target of $524.61.

Insider Buying and Selling

In other news, General Counsel Gary Loeb sold 300 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $475.00, for a total transaction of $142,500.00. Following the sale, the general counsel now owns 1,595 shares of the company’s stock, valued at $757,625. This trade represents a 15.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Amy L. Ladd sold 450 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $490.28, for a total transaction of $220,626.00. Following the completion of the transaction, the director now owns 821 shares of the company’s stock, valued at approximately $402,519.88. This represents a 35.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,935 shares of company stock valued at $26,305,169 over the last 90 days. 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.