Baxter Bros Inc. Makes New Investment in Intuitive Surgical, Inc. $ISRG

Baxter Bros Inc. bought a new position in Intuitive Surgical, Inc. (NASDAQ:ISRG) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 1,290 shares of the medical equipment provider’s stock, valued at approximately $595,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in ISRG. Draper Asset Management LLC grew its stake in shares of Intuitive Surgical by 41.9% in the 4th 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 raised its stake in 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 valued at $862,108,000 after buying an additional 132,966 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in 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 valued at $40,255,000 after buying an additional 16,119 shares during the last quarter. Procyon Advisors LLC boosted its holdings in Intuitive Surgical by 787.8% in the fourth quarter. Procyon Advisors LLC now owns 4,794 shares of the medical equipment provider’s stock worth $2,715,000 after acquiring an additional 4,254 shares in the last quarter. Finally, Robinhood Asset Management LLC bought a new stake in Intuitive Surgical in the fourth quarter worth $6,478,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ISRG. Truist Financial lowered their price target on Intuitive Surgical from $650.00 to $580.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Jefferies Financial Group dropped their target price on shares of Intuitive Surgical from $560.00 to $515.00 and set a “hold” rating on the stock in a research note on Wednesday, April 22nd. TD Cowen cut their price target on shares of Intuitive Surgical from $660.00 to $585.00 and set a “buy” rating on the stock in a report on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Intuitive Surgical from $440.00 to $366.00 and set a “sell” rating for the company in a report on Tuesday, June 2nd. Finally, JPMorgan Chase & Co. cut their target price on Intuitive Surgical from $625.00 to $550.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 22nd. Nineteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $571.33.

Intuitive Surgical Stock Up 1.6%

Shares of Intuitive Surgical stock opened at $432.83 on Tuesday. Intuitive Surgical, Inc. has a twelve month low of $396.68 and a twelve month high of $603.88. The company’s 50 day moving average is $427.27 and its 200 day moving average is $479.06. The company has a market cap of $153.29 billion, a price-to-earnings ratio of 52.46, a price-to-earnings-growth ratio of 3.47 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG) last posted its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.42. The company 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%.Intuitive Surgical’s revenue was up 23.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.81 earnings per share. Sell-side analysts expect that Intuitive Surgical, Inc. will post 8.57 EPS for the current fiscal year.

Insider Transactions at Intuitive Surgical

In related news, EVP Gary Loeb sold 400 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $424.14, for a total value of $169,656.00. Following the transaction, the executive vice president owned 5,720 shares of the company’s stock, valued at approximately $2,426,080.80. This trade represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Iman Jeddi sold 5,625 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $420.55, for a total transaction of $2,365,593.75. Following the sale, the senior vice president owned 6,463 shares of the company’s stock, valued at $2,718,014.65. This trade represents a 46.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 7,169 shares of company stock worth $3,059,135 in the last quarter. Company insiders own 0.60% of the company’s stock.

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.