Corient Private Wealth LLC Raises Holdings in Intuitive Surgical, Inc. $ISRG

Corient Private Wealth LLC grew its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 68.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 303,671 shares of the medical equipment provider’s stock after purchasing an additional 123,766 shares during the period. Corient Private Wealth LLC’s holdings in Intuitive Surgical were worth $165,018,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ISRG. Vanguard Group Inc. lifted its position in Intuitive Surgical by 2.1% during the second quarter. Vanguard Group Inc. now owns 33,335,833 shares of the medical equipment provider’s stock valued at $18,115,025,000 after purchasing an additional 670,302 shares in the last quarter. State Street Corp boosted its stake in Intuitive Surgical by 1.2% during the second quarter. State Street Corp now owns 15,552,203 shares of the medical equipment provider’s stock worth $8,451,223,000 after buying an additional 182,871 shares during the period. Geode Capital Management LLC raised its position in Intuitive Surgical by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 8,188,685 shares of the medical equipment provider’s stock worth $4,429,590,000 after purchasing an additional 109,904 shares during the period. Norges Bank purchased a new stake in Intuitive Surgical in the second quarter worth $2,569,260,000. Finally, Invesco Ltd. increased its position in shares of Intuitive Surgical by 4.8% during the second quarter. Invesco Ltd. now owns 4,421,133 shares of the medical equipment provider’s stock worth $2,402,488,000 after acquiring an additional 201,159 shares during the period. 83.64% of the stock is currently owned by institutional investors.

Intuitive Surgical Price Performance

NASDAQ:ISRG opened at $542.32 on Monday. The firm’s fifty day moving average price is $529.62 and its 200 day moving average price is $505.36. Intuitive Surgical, Inc. has a 1-year low of $425.00 and a 1-year high of $616.00. The firm has a market cap of $194.41 billion, a price-to-earnings ratio of 71.74, a price-to-earnings-growth ratio of 4.98 and a beta of 1.68.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings data on Tuesday, October 21st. The medical equipment provider reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.41. The firm had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Intuitive Surgical had a return on equity of 15.08% and a net margin of 28.58%.The firm’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.84 EPS. As a group, analysts expect that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Gary S. Guthart sold 28,800 shares of the business’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $547.56, for a total transaction of $15,769,728.00. Following the completion of the transaction, the insider owned 27,027 shares of the company’s stock, valued at approximately $14,798,904.12. The trade was a 51.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Henry L. Charlton sold 13,731 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $580.00, for a total value of $7,963,980.00. Following the completion of the transaction, the executive vice president directly owned 3,056 shares of the company’s stock, valued at $1,772,480. This trade represents a 81.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 109,043 shares of company stock worth $60,816,225. Corporate insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ISRG. Daiwa Capital Markets upped their price objective on Intuitive Surgical from $510.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, October 24th. Raymond James Financial set a $603.00 target price on Intuitive Surgical and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Truist Financial set a $620.00 target price on Intuitive Surgical and gave the company a “buy” rating in a report on Wednesday, October 22nd. Rothschild & Co Redburn upped their price objective on shares of Intuitive Surgical from $610.00 to $615.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Finally, BTIG Research upped their price objective on Intuitive Surgical from $529.00 to $589.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $608.79.

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.