Essex Savings Bank Raises Stock Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Essex Savings Bank lifted its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 4.1% in the first quarter, HoldingsChannel reports. The fund owned 687 shares of the medical equipment provider’s stock after acquiring an additional 27 shares during the period. Essex Savings Bank’s holdings in Intuitive Surgical were worth $340,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Intuitive Surgical by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 32,212,196 shares of the medical equipment provider’s stock valued at $16,813,478,000 after acquiring an additional 360,591 shares during the period. Geode Capital Management LLC boosted its stake in Intuitive Surgical by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 7,756,727 shares of the medical equipment provider’s stock worth $4,039,200,000 after purchasing an additional 243,802 shares during the period. Fisher Asset Management LLC boosted its stake in Intuitive Surgical by 1.8% in the 4th quarter. Fisher Asset Management LLC now owns 4,868,869 shares of the medical equipment provider’s stock worth $2,541,356,000 after purchasing an additional 86,488 shares during the period. Norges Bank bought a new position in Intuitive Surgical in the 4th quarter worth approximately $2,401,493,000. Finally, Invesco Ltd. boosted its stake in Intuitive Surgical by 7.7% in the 4th quarter. Invesco Ltd. now owns 4,148,180 shares of the medical equipment provider’s stock worth $2,165,184,000 after purchasing an additional 295,025 shares during the period. 83.64% of the stock is currently owned by institutional investors.

Intuitive Surgical Stock Performance

NASDAQ:ISRG opened at $509.49 on Thursday. The stock’s fifty day moving average is $527.31 and its 200 day moving average is $537.92. Intuitive Surgical, Inc. has a fifty-two week low of $413.82 and a fifty-two week high of $616.00. The firm has a market capitalization of $182.61 billion, a PE ratio of 74.71, a PEG ratio of 5.43 and a beta of 1.67.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings results on Tuesday, April 22nd. The medical equipment provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.10. Intuitive Surgical had a return on equity of 14.43% and a net margin of 28.41%. The company had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the prior year, the firm posted $1.50 EPS. Equities analysts forecast that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

Insider Activity at Intuitive Surgical

In other Intuitive Surgical news, Director Jami K. Nachtsheim sold 2,400 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $520.00, for a total value of $1,248,000.00. Following the sale, the director now owns 6,371 shares in the company, valued at $3,312,920. This trade represents a 27.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Robert Desantis sold 188 shares of the stock in a transaction on Monday, April 28th. The stock was sold at an average price of $515.91, for a total value of $96,991.08. Following the completion of the sale, the executive vice president now owns 5,224 shares in the company, valued at approximately $2,695,113.84. The trade was a 3.47% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,998 shares of company stock worth $2,611,577. Company insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Truist Financial dropped their price target on Intuitive Surgical from $605.00 to $590.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Piper Sandler dropped their price target on Intuitive Surgical from $670.00 to $575.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Barclays dropped their price target on Intuitive Surgical from $684.00 to $635.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Robert W. Baird dropped their price target on Intuitive Surgical from $600.00 to $575.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft downgraded Intuitive Surgical from a “hold” rating to a “sell” rating and dropped their price target for the stock from $515.00 to $440.00 in a research note on Monday, June 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $588.95.

Intuitive Surgical 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.