Nearwater Capital Markets Ltd Invests $54.76 Million in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Nearwater Capital Markets Ltd bought a new position in Intuitive Surgical, Inc. (NASDAQ:ISRG) during the fourth quarter, Holdings Channel.com reports. The fund bought 104,905 shares of the medical equipment provider’s stock, valued at approximately $54,756,000. Intuitive Surgical comprises approximately 1.6% of Nearwater Capital Markets Ltd’s investment portfolio, making the stock its 14th biggest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Brookstone Capital Management increased its holdings in shares of Intuitive Surgical by 25.4% during the 4th quarter. Brookstone Capital Management now owns 18,102 shares of the medical equipment provider’s stock valued at $9,448,000 after purchasing an additional 3,663 shares in the last quarter. Capital Investment Advisors LLC raised its stake in shares of Intuitive Surgical by 15.6% during the 4th quarter. Capital Investment Advisors LLC now owns 899 shares of the medical equipment provider’s stock worth $469,000 after buying an additional 121 shares during the period. Fragasso Financial Advisors Inc lifted its position in shares of Intuitive Surgical by 3.0% during the 4th quarter. Fragasso Financial Advisors Inc now owns 687 shares of the medical equipment provider’s stock valued at $359,000 after buying an additional 20 shares in the last quarter. Cooper Financial Group increased its holdings in Intuitive Surgical by 23.4% in the 4th quarter. Cooper Financial Group now owns 1,059 shares of the medical equipment provider’s stock worth $553,000 after acquiring an additional 201 shares in the last quarter. Finally, Claro Advisors LLC raised its position in shares of Intuitive Surgical by 3.1% during the 4th quarter. Claro Advisors LLC now owns 1,250 shares of the medical equipment provider’s stock worth $652,000 after purchasing an additional 37 shares during the last quarter. Institutional investors own 83.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ISRG. Erste Group Bank cut shares of Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 17th. Piper Sandler cut their target price on shares of Intuitive Surgical from $670.00 to $575.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. boosted their price target on shares of Intuitive Surgical from $575.00 to $675.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Evercore ISI cut their price objective on shares of Intuitive Surgical from $510.00 to $470.00 and set an “in-line” rating on the stock in a report on Wednesday, April 23rd. Finally, CICC Research started coverage on shares of Intuitive Surgical in a research report on Monday, January 27th. They set a “neutral” rating and a $550.00 target price on the stock. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $598.95.

Intuitive Surgical Price Performance

Shares of Intuitive Surgical stock opened at $563.95 on Wednesday. The business has a 50 day moving average price of $501.31 and a 200 day moving average price of $535.58. The company has a market capitalization of $202.13 billion, a P/E ratio of 87.98, a P/E/G ratio of 5.85 and a beta of 1.70. Intuitive Surgical, Inc. has a 1 year low of $379.67 and a 1 year high of $616.00.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings data on Tuesday, April 22nd. The medical equipment provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.10. Intuitive Surgical had a net margin of 27.81% and a return on equity of 14.55%. The business had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same period in the prior year, the firm posted $1.50 EPS. As a group, research analysts expect that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

Insider Transactions at Intuitive Surgical

In other Intuitive Surgical news, EVP Myriam Curet sold 2,401 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $581.00, for a total value of $1,394,981.00. Following the sale, the executive vice president now directly owns 353 shares in the company, valued at approximately $205,093. This trade represents a 87.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Mark Brosius sold 492 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $573.78, for a total transaction of $282,299.76. Following the transaction, the senior vice president now directly owns 4,056 shares of the company’s stock, valued at $2,327,251.68. The trade was a 10.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,636 shares of company stock valued at $16,829,815. Insiders own 0.70% of the company’s stock.

Intuitive Surgical Company Profile

Intuitive Surgical, Inc develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally. The company offers the da Vinci Surgical System that enables complex surgery using a minimally invasive approach; and Ion endoluminal system, which extends its commercial offerings beyond surgery into diagnostic procedures enabling minimally invasive biopsies in the lung.