1832 Asset Management L.P. Boosts Stake in Intuitive Surgical, Inc. $ISRG

1832 Asset Management L.P. boosted its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 63.7% during the second quarter, Holdings Channel.com reports. The firm owned 214,521 shares of the medical equipment provider’s stock after purchasing an additional 83,476 shares during the quarter. 1832 Asset Management L.P.’s holdings in Intuitive Surgical were worth $116,573,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Tobam increased its stake in shares of Intuitive Surgical by 666.7% in the 2nd quarter. Tobam now owns 46 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 40 shares in the last quarter. Princeton Global Asset Management LLC acquired a new stake in Intuitive Surgical in the second quarter valued at approximately $30,000. TD Capital Management LLC grew its holdings in Intuitive Surgical by 300.0% in the first quarter. TD Capital Management LLC now owns 60 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 45 shares during the period. 1248 Management LLC purchased a new stake in shares of Intuitive Surgical in the first quarter valued at approximately $30,000. Finally, First Command Advisory Services Inc. raised its stake in shares of Intuitive Surgical by 3,750.0% during the 2nd quarter. First Command Advisory Services Inc. now owns 77 shares of the medical equipment provider’s stock worth $42,000 after buying an additional 75 shares during the period. Institutional investors and hedge funds own 83.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ISRG. Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of Intuitive Surgical in a research note on Friday, August 22nd. Piper Sandler boosted their target price on shares of Intuitive Surgical from $595.00 to $610.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Hsbc Global Res upgraded shares of Intuitive Surgical to a “strong-buy” rating in a research report on Thursday, October 23rd. Mizuho set a $575.00 price objective on Intuitive Surgical in a report on Wednesday, October 22nd. Finally, Argus boosted their price objective on Intuitive Surgical from $600.00 to $630.00 in a research note on Monday, October 27th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $607.28.

Intuitive Surgical Stock Up 0.4%

Shares of NASDAQ:ISRG opened at $569.71 on Thursday. Intuitive Surgical, Inc. has a 52-week low of $425.00 and a 52-week high of $616.00. The stock has a market cap of $204.23 billion, a P/E ratio of 75.36, a PEG ratio of 5.21 and a beta of 1.68. The business has a fifty day moving average of $513.31 and a two-hundred day moving average of $505.15.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings results on Tuesday, October 21st. The medical equipment provider reported $2.40 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.41. Intuitive Surgical had a net margin of 28.58% and a return on equity of 15.08%. The firm had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the previous year, the company posted $1.84 EPS. The company’s revenue was up 22.9% compared to the same quarter last year. On average, equities analysts anticipate that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO David J. Rosa sold 24,500 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $547.55, for a total transaction of $13,414,975.00. Following the completion of the sale, the chief executive officer owned 234,256 shares in the company, valued at $128,266,872.80. This trade represents a 9.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Brian Edward Miller sold 3,500 shares of Intuitive Surgical stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $575.00, for a total transaction of $2,012,500.00. Following the sale, the executive vice president directly owned 5,758 shares in the company, valued at approximately $3,310,850. The trade was a 37.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 108,939 shares of company stock worth $60,757,995 over the last ninety days. 0.70% of the stock is currently owned by insiders.

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.