Bessemer Group Inc. Increases Position in Intuitive Surgical, Inc. $ISRG

Bessemer Group Inc. lifted its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 22.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 967,778 shares of the medical equipment provider’s stock after buying an additional 179,450 shares during the quarter. Bessemer Group Inc.’s holdings in Intuitive Surgical were worth $432,821,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Intuitive Surgical by 2.1% in 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 during the period. State Street Corp lifted its holdings in Intuitive Surgical by 1.2% during the 2nd 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 in the last quarter. Geode Capital Management LLC boosted 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 valued at $4,429,590,000 after buying an additional 109,904 shares during the period. Norges Bank acquired a new position in shares of Intuitive Surgical in the second quarter worth $2,569,260,000. Finally, Invesco Ltd. grew its stake in shares of Intuitive Surgical by 4.8% in 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 in the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.

Insider Activity

In other news, Director Gary S. Guthart sold 24,500 shares of the company’s stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $530.10, for a total transaction of $12,987,450.00. Following the transaction, the director directly owned 3,694 shares of the company’s stock, valued at $1,958,189.40. This represents a 86.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Craig H. Barratt sold 750 shares of the company’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $580.00, for a total transaction of $435,000.00. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 73,616 shares of company stock valued at $40,929,575 over the last ninety days. 0.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ISRG shares. Robert W. Baird decreased their target price on Intuitive Surgical from $655.00 to $645.00 and set an “outperform” rating for the company in a report on Friday, January 23rd. Leerink Partners increased their price target on Intuitive Surgical from $593.00 to $600.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Piper Sandler reissued an “overweight” rating and set a $620.00 price objective (up from $610.00) on shares of Intuitive Surgical in a research report on Friday, January 23rd. Daiwa Capital Markets upped their target price on shares of Intuitive Surgical from $510.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, October 24th. Finally, Jefferies Financial Group lifted their price target on shares of Intuitive Surgical from $550.00 to $560.00 and gave the stock a “hold” rating in a research note on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $620.41.

Intuitive Surgical Stock Down 0.1%

ISRG opened at $478.49 on Thursday. Intuitive Surgical, Inc. has a 52 week low of $425.00 and a 52 week high of $609.08. The business’s 50 day moving average is $553.29 and its two-hundred day moving average is $510.97. The firm has a market cap of $171.53 billion, a price-to-earnings ratio of 60.65, a price-to-earnings-growth ratio of 3.72 and a beta of 1.65.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings data on Thursday, January 22nd. The medical equipment provider reported $2.53 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.26. The company had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.72 billion. Intuitive Surgical had a net margin of 28.38% and a return on equity of 15.06%. Intuitive Surgical’s quarterly revenue was up 18.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.21 earnings per share. Equities analysts expect that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

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.