Alberta Investment Management Corp Acquires New Position in Intuitive Surgical, Inc. $ISRG

Alberta Investment Management Corp acquired a new stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 96,000 shares of the medical equipment provider’s stock, valued at approximately $54,371,000.

Other hedge funds have also added to or reduced their stakes in the company. Draper Asset Management LLC grew its stake in shares of Intuitive Surgical by 41.9% during the fourth quarter. Draper Asset Management LLC now owns 5,029 shares of the medical equipment provider’s stock worth $2,848,000 after buying an additional 1,485 shares during the last quarter. Deutsche Bank AG grew its stake in shares of Intuitive Surgical by 9.6% during the fourth quarter. Deutsche Bank AG now owns 1,522,191 shares of the medical equipment provider’s stock worth $862,108,000 after buying an additional 132,966 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Intuitive Surgical by 29.3% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 71,077 shares of the medical equipment provider’s stock worth $40,255,000 after buying an additional 16,119 shares during the last quarter. Procyon Advisors LLC grew its stake in shares of Intuitive Surgical by 787.8% during the fourth quarter. Procyon Advisors LLC now owns 4,794 shares of the medical equipment provider’s stock worth $2,715,000 after buying an additional 4,254 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Intuitive Surgical by 0.8% during the third quarter. Vanguard Group Inc. now owns 33,599,661 shares of the medical equipment provider’s stock worth $15,026,776,000 after buying an additional 263,828 shares during the last quarter. 83.64% of the stock is owned by institutional investors.

Intuitive Surgical Stock Up 1.3%

Shares of Intuitive Surgical stock opened at $416.55 on Tuesday. Intuitive Surgical, Inc. has a twelve month low of $396.68 and a twelve month high of $603.88. The stock has a market cap of $147.53 billion, a price-to-earnings ratio of 50.49, a P/E/G ratio of 3.28 and a beta of 1.46. The company’s fifty day moving average is $442.17 and its 200 day moving average is $494.54.

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

Insider Activity

In related news, SVP Iman Jeddi sold 5,625 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $420.55, for a total value of $2,365,593.75. Following the sale, the senior vice president owned 6,463 shares in the company, valued at $2,718,014.65. This represents a 46.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total transaction of $169,656.00. Following the completion of the sale, the executive vice president owned 5,720 shares in the company, valued at $2,426,080.80. This represents a 6.54% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 7,169 shares of company stock worth $3,059,135. Company insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ISRG shares. Piper Sandler reaffirmed an “overweight” rating and set a $580.00 target price on shares of Intuitive Surgical in a research note on Tuesday, June 2nd. BofA reduced their price objective on shares of Intuitive Surgical from $520.00 to $515.00 in a research note on Friday. Leerink Partners reduced their price objective on shares of Intuitive Surgical from $622.00 to $573.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. reduced their price objective on shares of Intuitive Surgical from $625.00 to $550.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 22nd. Finally, Robert W. Baird boosted their price objective on shares of Intuitive Surgical from $575.00 to $610.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. 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’s stock. Based on data from MarketBeat.com, Intuitive Surgical presently has a consensus rating of “Moderate Buy” and an average price target of $571.28.

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.