Allstate Corp Increases Position in Intuitive Surgical, Inc. $ISRG

Allstate Corp raised its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 107.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,290 shares of the medical equipment provider’s stock after buying an additional 14,131 shares during the period. Allstate Corp’s holdings in Intuitive Surgical were worth $15,456,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ISRG. Holos Integrated Wealth LLC bought a new stake in shares of Intuitive Surgical during the fourth quarter valued at approximately $25,000. Newbridge Financial Services Group Inc. increased its position in Intuitive Surgical by 300.0% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 33 shares during the period. Greykasell Wealth Strategies Inc. purchased a new position in Intuitive Surgical during the 3rd quarter valued at about $27,000. Olistico Wealth LLC bought a new position in Intuitive Surgical in the fourth quarter worth approximately $28,000. Finally, Caitlin John LLC bought a new position in Intuitive Surgical in the third quarter worth approximately $30,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Stock Performance

Shares of ISRG stock opened at $438.10 on Tuesday. The business’s fifty day simple moving average is $457.79 and its 200-day simple moving average is $509.66. The company has a market cap of $155.16 billion, a PE ratio of 53.10, a PEG ratio of 3.50 and a beta of 1.51. Intuitive Surgical, Inc. has a 12-month low of $417.74 and a 12-month high of $603.88.

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

Insider Buying and Selling at Intuitive Surgical

In other news, EVP Gary Loeb sold 400 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $446.95, for a total transaction of $178,780.00. Following the transaction, the executive vice president directly owned 6,120 shares of the company’s stock, valued at approximately $2,735,334. This represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Patricia L. Wadors sold 220 shares of the company’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $499.71, for a total value of $109,936.20. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 5,701 shares of company stock valued at $2,783,807. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Zacks Research downgraded shares of Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Barclays set a $651.00 price objective on shares of Intuitive Surgical and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. Mizuho set a $525.00 price objective on shares of Intuitive Surgical and gave the stock a “neutral” rating in a research note on Monday, April 13th. Piper Sandler reduced their price objective on shares of Intuitive Surgical from $620.00 to $580.00 and set an “overweight” rating for the company in a research note on Wednesday, April 22nd. Finally, Bank of America reduced their price objective on shares of Intuitive Surgical from $650.00 to $520.00 and set a “buy” rating for the company in a research note on Monday, May 18th. Nineteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $579.33.

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.