Financiere des Professionnels Fonds d investissement inc. Makes New Investment in Intuitive Surgical, Inc. $ISRG

Financiere des Professionnels Fonds d investissement inc. purchased a new position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG – Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 11,109 shares of the medical equipment provider’s stock, valued at approximately $5,121,000.

Several other hedge funds and other institutional investors have also modified their holdings of ISRG. Draper Asset Management LLC raised its position in shares of Intuitive Surgical by 41.9% during the fourth quarter. Draper Asset Management LLC now owns 5,029 shares of the medical equipment provider’s stock valued at $2,848,000 after buying an additional 1,485 shares during the last quarter. Deutsche Bank AG grew its position in Intuitive Surgical by 9.6% during the fourth quarter. Deutsche Bank AG now owns 1,522,191 shares of the medical equipment provider’s stock worth $862,108,000 after buying an additional 132,966 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in Intuitive Surgical by 29.3% during 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 acquiring an additional 16,119 shares during the period. Procyon Advisors LLC raised its holdings in Intuitive Surgical by 787.8% in the 4th quarter. Procyon Advisors LLC now owns 4,794 shares of the medical equipment provider’s stock valued at $2,715,000 after acquiring an additional 4,254 shares in the last quarter. Finally, Robinhood Asset Management LLC acquired a new position in Intuitive Surgical in the 4th quarter valued at approximately $6,478,000. Institutional investors and hedge funds own 83.64% of the company’s stock.

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Key Stories Impacting Intuitive Surgical

Here are the key news stories impacting Intuitive Surgical this week:

• Positive Sentiment: Q2 earnings and revenue came in ahead of Wall Street expectations, supported by strong demand for Intuitive’s robotic surgical systems. Reuters: Intuitive Surgical beats quarterly estimates on strong demand for its robotic systems
• Positive Sentiment: Worldwide procedure volume continued to grow at a healthy pace, with da Vinci procedures up about 15% and Ion procedures up about 36%, reinforcing the company’s growth story. Yahoo Finance: Intuitive Announces Second Quarter Earnings
• Positive Sentiment: Analyst coverage remained constructive, with Truist still rating the stock Buy even after trimming its price target to $510 from $580. Benzinga/Truist note

Insider Buying and Selling

In related news, 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 transaction of $2,365,593.75. Following the completion of the sale, the senior vice president owned 6,463 shares in the company, valued at $2,718,014.65. This trade represents a 46.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 119 shares of Intuitive Surgical stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $463.50, for a total transaction of $55,156.50. Following the transaction, the director directly owned 120 shares of the company’s stock, valued at $55,620. This represents a 49.79% decrease in their ownership of the stock. 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. Insiders sold 7,169 shares of company stock worth $3,059,135 in the last quarter. 0.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ISRG has been the topic of several recent research reports. Royal Bank Of Canada decreased their price objective on Intuitive Surgical from $650.00 to $600.00 and set an “outperform” rating on the stock in a report on Monday. Bank of America reduced their target price on Intuitive Surgical from $520.00 to $515.00 in a research report on Friday, June 12th. Citigroup reiterated a “buy” rating on shares of Intuitive Surgical in a research note on Wednesday, July 8th. Barclays set a $651.00 price objective on shares of Intuitive Surgical and gave the company an “overweight” rating in a research note on Thursday, April 23rd. Finally, Wall Street Zen upgraded shares of Intuitive Surgical from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $562.62.

Read Our Latest Analysis on Intuitive Surgical

Intuitive Surgical Price Performance

Shares of NASDAQ:ISRG opened at $402.33 on Friday. The business’s fifty day moving average price is $417.37 and its two-hundred day moving average price is $468.74. Intuitive Surgical, Inc. has a fifty-two week low of $378.50 and a fifty-two week high of $603.88. The stock has a market capitalization of $142.49 billion, a price-to-earnings ratio of 48.77, a price-to-earnings-growth ratio of 3.16 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG – Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.42. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same period last year, the business earned $1.81 earnings per share. The business’s revenue was up 23.0% on a year-over-year basis. Research analysts expect that Intuitive Surgical, Inc. will post 8.57 EPS for the current fiscal year.

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.

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