AlTi Global Inc. Purchases 2,356 Shares of Intuitive Surgical, Inc. $ISRG

AlTi Global Inc. boosted its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRGFree Report) by 353.2% during the 1st quarter, Holdings Channel reports. The fund owned 3,023 shares of the medical equipment provider’s stock after buying an additional 2,356 shares during the period. AlTi Global Inc.’s holdings in Intuitive Surgical were worth $1,394,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its stake in Intuitive Surgical by 1.0% in the fourth quarter. State Street Corp now owns 15,701,591 shares of the medical equipment provider’s stock worth $8,892,753,000 after buying an additional 162,264 shares in the last quarter. Capital World Investors raised its position in shares of Intuitive Surgical by 1.7% in the 4th quarter. Capital World Investors now owns 7,856,018 shares of the medical equipment provider’s stock worth $4,449,491,000 after acquiring an additional 127,526 shares in the last quarter. Norges Bank purchased a new stake in shares of Intuitive Surgical during the 4th quarter worth $2,856,987,000. Invesco Ltd. boosted its position in Intuitive Surgical by 17.4% during the fourth quarter. Invesco Ltd. now owns 4,128,735 shares of the medical equipment provider’s stock valued at $2,338,350,000 after purchasing an additional 611,268 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in Intuitive Surgical by 9.4% in the fourth quarter. Wellington Management Group LLP now owns 3,445,880 shares of the medical equipment provider’s stock valued at $1,951,609,000 after purchasing an additional 294,651 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Trading Up 2.2%

Shares of NASDAQ ISRG opened at $353.17 on Tuesday. Intuitive Surgical, Inc. has a 12 month low of $342.10 and a 12 month high of $603.88. The stock has a market cap of $125.08 billion, a price-to-earnings ratio of 40.45, a PEG ratio of 2.80 and a beta of 1.46. The company has a 50 day simple moving average of $413.94 and a two-hundred day simple moving average of $465.58.

Intuitive Surgical (NASDAQ:ISRGGet Free Report) last announced its quarterly earnings results 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. 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 17.09% and a net margin of 28.45%.The firm’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same period last year, the firm earned $1.81 EPS. Analysts forecast that Intuitive Surgical, Inc. will post 8.62 EPS for the current year.

Insiders Place Their Bets

In other Intuitive Surgical news, EVP Gary Loeb sold 400 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $424.14, for a total value of $169,656.00. Following the completion of the transaction, the executive vice president owned 5,720 shares in the company, valued at approximately $2,426,080.80. This represents a 6.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible 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 stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $420.55, for a total value of $2,365,593.75. Following the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 7,169 shares of company stock worth $3,059,135. Company insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

ISRG has been the subject of a number of recent research reports. Stifel Nicolaus reduced their target price on shares of Intuitive Surgical from $670.00 to $550.00 and set a “buy” rating for the company in a report on Friday. Royal Bank Of Canada lowered their price target on shares of Intuitive Surgical from $650.00 to $600.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Intuitive Surgical in a research note on Tuesday, May 19th. Truist Financial reduced their price objective on shares of Intuitive Surgical from $580.00 to $510.00 and set a “buy” rating for the company in a research note on Thursday, July 16th. Finally, BTIG Research decreased their target price on shares of Intuitive Surgical from $512.00 to $469.00 and set a “buy” rating for the company in a research report on Friday. Twenty-one equities 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $523.46.

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About Intuitive Surgical

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Intuitive Surgical (NASDAQ:ISRG)

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