NewEdge Advisors LLC Acquires 16,847 Shares of Intuitive Surgical, Inc. $ISRG

NewEdge Advisors LLC grew its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRGFree Report) by 65.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,683 shares of the medical equipment provider’s stock after purchasing an additional 16,847 shares during the quarter. NewEdge Advisors LLC’s holdings in Intuitive Surgical were worth $19,676,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Draper Asset Management LLC raised its stake in 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 valued at $2,848,000 after acquiring an additional 1,485 shares during the period. Deutsche Bank AG increased its stake in shares of Intuitive Surgical by 9.6% in the fourth quarter. Deutsche Bank AG now owns 1,522,191 shares of the medical equipment provider’s stock worth $862,108,000 after purchasing an additional 132,966 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Intuitive Surgical by 29.3% in 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 purchasing an additional 16,119 shares during the period. KBC Group NV raised its holdings in Intuitive Surgical by 4.7% during the 4th quarter. KBC Group NV now owns 420,593 shares of the medical equipment provider’s stock valued at $238,207,000 after acquiring an additional 18,697 shares during the period. Finally, Dara Capital US Inc. bought a new stake in shares of Intuitive Surgical during the 4th quarter valued at $2,248,000. 83.64% of the stock is currently owned by institutional investors.

Intuitive Surgical Stock Performance

Shares of Intuitive Surgical stock opened at $378.81 on Friday. The stock has a market capitalization of $133.83 billion, a price-to-earnings ratio of 43.39, a price-to-earnings-growth ratio of 2.70 and a beta of 1.46. The company has a fifty day moving average of $392.87 and a 200-day moving average of $445.78. Intuitive Surgical, Inc. has a 52-week low of $328.57 and a 52-week high of $603.88.

Intuitive Surgical (NASDAQ:ISRGGet Free Report) last posted its quarterly earnings results on Thursday, July 16th. The medical equipment provider reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.32. Intuitive Surgical had a net margin of 28.45% and a return on equity of 16.91%. The business had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.83 billion. During the same period in the previous year, the firm posted $1.81 earnings per share. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. On average, equities research analysts forecast that Intuitive Surgical, Inc. will post 8.87 earnings per share for the current fiscal year.

Insider Transactions at Intuitive Surgical

In other news, EVP Gary Loeb sold 400 shares of the business’s stock in a transaction dated Wednesday, June 10th. The stock was 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 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 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 dated Monday, June 1st. The shares were sold at an average price of $420.55, for a total value 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 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. In the last three months, insiders sold 6,634 shares of company stock valued at $2,796,795. 0.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. JPMorgan Chase & Co. cut their price target on shares of Intuitive Surgical from $550.00 to $450.00 and set an “overweight” rating for the company in a report on Friday, July 17th. Piper Sandler set a $357.44 price objective on shares of Intuitive Surgical in a report on Monday, July 27th. Robert W. Baird reduced their target price on Intuitive Surgical from $525.00 to $500.00 and set an “outperform” rating on the stock in a research note on Friday, July 17th. Jefferies Financial Group lowered their price target on Intuitive Surgical from $560.00 to $515.00 and set a “hold” rating on the stock in a research report on Wednesday, April 22nd. Finally, Sanford C. Bernstein cut their price objective on Intuitive Surgical from $750.00 to $685.00 and set an “outperform” rating for the company in a report on Friday, July 17th. Twenty investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $509.02.

View Our Latest Stock Report on ISRG

Intuitive Surgical Company Profile

(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.

Recommended Stories

Want to see what other hedge funds are holding ISRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuitive Surgical, Inc. (NASDAQ:ISRGFree Report).

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

Receive News & Ratings for Intuitive Surgical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuitive Surgical and related companies with MarketBeat.com's FREE daily email newsletter.