CoreCap Advisors LLC Raises Stake in Intuitive Surgical, Inc. $ISRG

CoreCap Advisors LLC boosted its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 37.4% during the third quarter, Holdings Channel.com reports. The firm owned 3,162 shares of the medical equipment provider’s stock after acquiring an additional 861 shares during the quarter. CoreCap Advisors LLC’s holdings in Intuitive Surgical were worth $1,414,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ISRG. Vanguard Group Inc. grew its stake in shares of 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 worth $18,115,025,000 after buying an additional 670,302 shares during the last quarter. State Street Corp grew its stake in shares of Intuitive Surgical by 1.2% in 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 acquiring an additional 182,871 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Intuitive Surgical by 1.4% during the second quarter. Geode Capital Management LLC now owns 8,188,685 shares of the medical equipment provider’s stock valued at $4,429,590,000 after acquiring an additional 109,904 shares in the last quarter. Norges Bank bought a new position in shares of Intuitive Surgical during the second quarter valued at $2,569,260,000. Finally, Invesco Ltd. raised its position in shares of Intuitive Surgical by 4.8% in the 2nd quarter. Invesco Ltd. now owns 4,421,133 shares of the medical equipment provider’s stock worth $2,402,488,000 after purchasing an additional 201,159 shares during the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Intuitive Surgical

In related news, SVP Mark Brosius sold 464 shares of the business’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $548.49, for a total value of $254,499.36. Following the sale, the senior vice president directly owned 131 shares in the company, valued at approximately $71,852.19. The trade was a 77.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Myriam Curet sold 104 shares of the stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $559.90, for a total value of $58,229.60. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 114,007 shares of company stock valued at $63,533,844. 0.70% of the stock is owned by insiders.

Intuitive Surgical Price Performance

Intuitive Surgical stock opened at $585.08 on Friday. Intuitive Surgical, Inc. has a 1 year low of $425.00 and a 1 year high of $616.00. The firm’s 50 day moving average price is $564.92 and its 200-day moving average price is $511.04. The stock has a market cap of $209.74 billion, a P/E ratio of 77.39, a PEG ratio of 4.82 and a beta of 1.67.

Intuitive Surgical (NASDAQ:ISRG) last posted its 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. The company had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Intuitive Surgical had a net margin of 28.58% and a return on equity of 15.08%. Intuitive Surgical’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period last year, the company posted $1.84 earnings per share. As a group, equities analysts expect that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ISRG. Argus raised their price objective on shares of Intuitive Surgical from $600.00 to $630.00 in a research note on Monday, October 27th. Piper Sandler boosted their target price on Intuitive Surgical from $595.00 to $610.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Robert W. Baird set a $655.00 price target on Intuitive Surgical in a report on Wednesday, October 22nd. Raymond James Financial set a $603.00 target price on Intuitive Surgical and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Finally, BTIG Research reissued a “buy” rating and issued a $616.00 target price (up from $589.00) on shares of Intuitive Surgical in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $616.00.

Intuitive Surgical 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.