Deepwater Asset Management LLC Makes New $14.28 Million Investment in Intuitive Surgical, Inc. $ISRG

Deepwater Asset Management LLC bought a new position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 25,210 shares of the medical equipment provider’s stock, valued at approximately $14,278,000. Intuitive Surgical makes up about 4.2% of Deepwater Asset Management LLC’s investment portfolio, making the stock its 8th largest position.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Intuitive Surgical by 0.8% in the 3rd 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 in the last quarter. Capital World Investors boosted 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 buying an additional 127,526 shares in the last quarter. Norges Bank purchased a new stake in shares of Intuitive Surgical in the 4th quarter worth about $2,856,987,000. Fisher Asset Management LLC boosted its position in shares of Intuitive Surgical by 1.1% in the 3rd quarter. Fisher Asset Management LLC now owns 3,889,439 shares of the medical equipment provider’s stock worth $1,739,475,000 after buying an additional 40,702 shares in the last quarter. Finally, Amundi boosted its position in shares of Intuitive Surgical by 29.7% in the 3rd quarter. Amundi now owns 3,227,472 shares of the medical equipment provider’s stock worth $1,451,362,000 after buying an additional 739,444 shares in the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Gary Loeb sold 400 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $446.95, for a total value of $178,780.00. Following the completion of the transaction, the executive vice president owned 6,120 shares of the company’s stock, valued at approximately $2,735,334. The trade was a 6.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 dated 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 completion of the transaction, the senior vice president directly owned 6,463 shares of the company’s stock, valued at $2,718,014.65. The trade was 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 6,803 shares of company stock worth $2,911,573. Company insiders own 0.60% of the company’s stock.

Intuitive Surgical Stock Performance

Shares of ISRG stock opened at $422.06 on Monday. The firm has a 50-day moving average price of $447.24 and a 200 day moving average price of $500.70. Intuitive Surgical, Inc. has a twelve month low of $396.68 and a twelve month high of $603.88. The company has a market capitalization of $149.48 billion, a price-to-earnings ratio of 51.16, a PEG ratio of 3.37 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG) last announced its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, beating 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 firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the previous year, the company posted $1.81 EPS. The firm’s revenue for the quarter was up 23.0% on a year-over-year basis. As a group, research analysts predict that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. BTIG Research reiterated a “buy” rating and issued a $574.00 price objective on shares of Intuitive Surgical in a research report on Wednesday, April 22nd. Piper Sandler reiterated an “overweight” rating and issued a $580.00 price objective on shares of Intuitive Surgical in a research report on Tuesday, June 2nd. Truist Financial decreased their price objective on shares of Intuitive Surgical from $650.00 to $580.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. The Goldman Sachs Group set a $558.00 price objective on shares of Intuitive Surgical in a research report on Wednesday, May 27th. Finally, Evercore decreased their price objective on shares of Intuitive Surgical from $550.00 to $480.00 and set a “neutral” rating on the stock in a research report on Monday, April 6th. Nineteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $573.63.

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.