Alberta Investment Management Corp Makes New $54.37 Million Investment in Intuitive Surgical, Inc. $ISRG

Alberta Investment Management Corp purchased a new stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) in the fourth quarter, HoldingsChannel reports. The firm purchased 96,000 shares of the medical equipment provider’s stock, valued at approximately $54,371,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of Intuitive Surgical in the 4th quarter worth about $2,856,987,000. J. Stern & Co. LLP raised its position in Intuitive Surgical by 18,504.6% during the fourth quarter. J. Stern & Co. LLP now owns 2,127,248 shares of the medical equipment provider’s stock worth $1,204,788,000 after acquiring an additional 2,115,814 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Intuitive Surgical by 1,043.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,342,121 shares of the medical equipment provider’s stock worth $760,124,000 after acquiring an additional 1,224,734 shares during the last quarter. Polen Capital Management LLC purchased a new stake in shares of Intuitive Surgical in the fourth quarter valued at about $477,225,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Intuitive Surgical by 106.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,533,771 shares of the medical equipment provider’s stock valued at $868,667,000 after purchasing an additional 791,516 shares in the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ISRG. BTIG Research reiterated a “buy” rating and issued a $574.00 price target on shares of Intuitive Surgical in a research report on Wednesday, April 22nd. Piper Sandler restated an “overweight” rating and set a $580.00 price objective on shares of Intuitive Surgical in a research report on Tuesday, June 2nd. Raymond James Financial reduced their target price on Intuitive Surgical from $615.00 to $577.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Intuitive Surgical in a report on Tuesday, May 19th. Finally, Jefferies Financial Group dropped their price target on Intuitive Surgical from $560.00 to $515.00 and set a “hold” rating for the company in a research report on Wednesday, April 22nd. 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $573.42.

Insider Buying and Selling

In other Intuitive Surgical news, EVP Gary Loeb sold 400 shares of Intuitive Surgical 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 completion of the sale, the executive vice president directly owned 5,720 shares of the company’s stock, valued at approximately $2,426,080.80. The trade was a 6.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 119 shares of the business’s stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $463.50, for a total value of $55,156.50. Following the completion of the transaction, the director owned 120 shares of the company’s stock, valued at $55,620. This trade represents a 49.79% decrease in their ownership of the stock. 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. 0.60% of the stock is owned by insiders.

Intuitive Surgical Price Performance

Intuitive Surgical stock opened at $406.78 on Friday. The stock has a market capitalization of $144.07 billion, a P/E ratio of 49.31, a P/E/G ratio of 3.27 and a beta of 1.46. Intuitive Surgical, Inc. has a 12-month low of $396.68 and a 12-month high of $603.88. The firm’s 50-day moving average is $439.54 and its two-hundred day moving average is $491.05.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings data 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 business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.62 billion. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The company’s revenue was up 23.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.81 earnings per share. As a group, analysts forecast that Intuitive Surgical, Inc. will post 8.57 EPS for the current year.

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.