Bessemer Group Inc. Raises Stock Holdings in Intuitive Surgical, Inc. $ISRG

Bessemer Group Inc. boosted its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 10.9% in the first quarter, HoldingsChannel.com reports. The fund owned 869,556 shares of the medical equipment provider’s stock after acquiring an additional 85,606 shares during the quarter. Intuitive Surgical comprises about 0.6% of Bessemer Group Inc.’s portfolio, making the stock its 28th largest holding. Bessemer Group Inc.’s holdings in Intuitive Surgical were worth $400,857,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ISRG. Newbridge Financial Services Group Inc. raised its stake in shares of Intuitive Surgical by 300.0% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 33 shares during the last quarter. Holos Integrated Wealth LLC purchased a new stake in Intuitive Surgical in the fourth quarter valued at approximately $25,000. Olistico Wealth LLC acquired a new position in Intuitive Surgical in the 4th quarter worth approximately $28,000. Laurel Wealth Advisors LLC acquired a new position in Intuitive Surgical in the 4th quarter worth approximately $31,000. Finally, Turning Point Benefit Group Inc. raised its position in Intuitive Surgical by 833.3% during the 4th quarter. Turning Point Benefit Group Inc. now owns 56 shares of the medical equipment provider’s stock worth $32,000 after buying an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Analyst Upgrades and Downgrades

ISRG has been the subject of several research reports. Piper Sandler restated an “overweight” rating and set a $580.00 price objective on shares of Intuitive Surgical in a research note on Tuesday, June 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Intuitive Surgical in a research note on Tuesday, May 19th. Leerink Partners reduced their target price on shares of Intuitive Surgical from $622.00 to $573.00 and set an “outperform” rating for the company in a report on Wednesday, April 22nd. HSBC decreased their target price on shares of Intuitive Surgical from $653.00 to $604.00 and set a “buy” rating for the company in a research report on Wednesday, April 22nd. Finally, Stifel Nicolaus set a $670.00 price target on Intuitive Surgical in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $562.62.

Insider Activity at Intuitive Surgical

In other Intuitive Surgical news, SVP Iman Jeddi sold 5,625 shares of Intuitive Surgical stock in a transaction on Monday, June 1st. The shares were sold at an average price of $420.55, for a total value of $2,365,593.75. Following the completion of the transaction, the senior vice president owned 6,463 shares of the company’s stock, valued at approximately $2,718,014.65. The trade was a 46.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 119 shares of the company’s stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $463.50, for a total transaction of $55,156.50. Following the completion of the transaction, the director owned 120 shares of the company’s stock, valued at approximately $55,620. This trade represents a 49.79% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 7,169 shares of company stock worth $3,059,135. 0.60% of the stock is owned by company insiders.

Intuitive Surgical Trading Up 3.4%

Intuitive Surgical stock opened at $402.33 on Friday. The firm has a market cap of $142.49 billion, a PE ratio of 48.77, a P/E/G ratio of 3.16 and a beta of 1.46. Intuitive Surgical, Inc. has a 12 month low of $378.50 and a 12 month high of $603.88. The stock’s 50 day simple moving average is $417.37 and its two-hundred day simple moving average is $468.74.

Intuitive Surgical (NASDAQ:ISRG) last posted its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.42. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same period in the previous year, the firm earned $1.81 EPS. The business’s quarterly revenue was up 23.0% on a year-over-year basis. On average, equities research analysts forecast that Intuitive Surgical, Inc. will post 8.57 EPS for the current year.

Key Stories Impacting Intuitive Surgical

Here are the key news stories impacting Intuitive Surgical this week:

• Positive Sentiment: Q2 earnings and revenue came in ahead of Wall Street expectations, supported by strong demand for Intuitive’s robotic surgical systems. Reuters: Intuitive Surgical beats quarterly estimates on strong demand for its robotic systems
• Positive Sentiment: Worldwide procedure volume continued to grow at a healthy pace, with da Vinci procedures up about 15% and Ion procedures up about 36%, reinforcing the company’s growth story. Yahoo Finance: Intuitive Announces Second Quarter Earnings
• Positive Sentiment: Analyst coverage remained constructive, with Truist still rating the stock Buy even after trimming its price target to $510 from $580. Benzinga/Truist note

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.