Fisher Funds Management LTD Boosts Stock Position in Intuitive Surgical, Inc. $ISRG

Fisher Funds Management LTD raised its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 28.3% in the first quarter, Holdings Channel reports. The fund owned 142,156 shares of the medical equipment provider’s stock after acquiring an additional 31,392 shares during the period. Intuitive Surgical accounts for about 1.9% of Fisher Funds Management LTD’s portfolio, making the stock its 10th biggest position. Fisher Funds Management LTD’s holdings in Intuitive Surgical were worth $65,532,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Holos Integrated Wealth LLC bought a new position in shares of Intuitive Surgical during the 4th quarter valued at about $25,000. Newbridge Financial Services Group Inc. grew its position in shares of Intuitive Surgical by 300.0% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 33 shares during the period. Olistico Wealth LLC bought a new stake in Intuitive Surgical during the 4th quarter worth approximately $28,000. Caitlin John LLC bought a new stake in Intuitive Surgical during the 3rd quarter worth approximately $30,000. Finally, Laurel Wealth Advisors LLC acquired a new stake in Intuitive Surgical during the 4th quarter worth approximately $31,000. 83.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ISRG shares. Citigroup raised shares of Intuitive Surgical from a “neutral” rating to a “buy” rating and set a $590.00 price target on the stock in a research note on Wednesday, March 11th. Raymond James Financial lowered their price objective on shares of Intuitive Surgical from $615.00 to $577.00 and set an “outperform” rating for the company in a research report on Wednesday, April 22nd. HSBC dropped their price objective on shares of Intuitive Surgical from $653.00 to $604.00 and set a “buy” rating on the stock in a report on Wednesday, April 22nd. BTIG Research reaffirmed a “buy” rating and issued a $574.00 price objective on shares of Intuitive Surgical in a research report on Wednesday, April 22nd. Finally, TD Cowen reduced their target price on shares of Intuitive Surgical from $660.00 to $585.00 and set a “buy” rating for the company in a research note on Wednesday, April 22nd. Nineteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $573.42.

Insider Buying and Selling

In other Intuitive Surgical news, SVP Iman Jeddi sold 5,625 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $420.55, for a total transaction of $2,365,593.75. Following the transaction, the senior vice president 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 that occurred on Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total value of $169,656.00. Following the sale, 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 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 quarter, insiders have sold 7,169 shares of company stock worth $3,059,135. Corporate insiders own 0.60% of the company’s stock.

Intuitive Surgical Stock Performance

Shares of ISRG stock opened at $406.78 on Monday. The firm’s fifty day moving average price is $438.43 and its two-hundred day moving average price is $489.92. Intuitive Surgical, Inc. has a 1 year low of $396.68 and a 1 year high of $603.88. The firm has a market capitalization of $144.07 billion, a P/E ratio of 49.31, a PEG ratio of 3.31 and a beta of 1.46.

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

About Intuitive Surgical

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.