Triasima Portfolio Management inc. Raises Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Triasima Portfolio Management inc. boosted its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 191.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,485 shares of the medical equipment provider’s stock after purchasing an additional 975 shares during the period. Triasima Portfolio Management inc.’s holdings in Intuitive Surgical were worth $735,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ISRG. Vanguard Group Inc. lifted its holdings in shares of Intuitive Surgical by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 32,212,196 shares of the medical equipment provider’s stock worth $16,813,478,000 after acquiring an additional 360,591 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Intuitive Surgical by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 7,756,727 shares of the medical equipment provider’s stock valued at $4,039,200,000 after buying an additional 243,802 shares in the last quarter. Norges Bank bought a new stake in Intuitive Surgical during the 4th quarter valued at about $2,401,493,000. Invesco Ltd. lifted its holdings in Intuitive Surgical by 7.7% during the 4th quarter. Invesco Ltd. now owns 4,148,180 shares of the medical equipment provider’s stock valued at $2,165,184,000 after buying an additional 295,025 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Intuitive Surgical by 15.8% during the 4th quarter. Northern Trust Corp now owns 3,619,293 shares of the medical equipment provider’s stock valued at $1,889,126,000 after buying an additional 494,496 shares in the last quarter. Institutional investors own 83.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ISRG shares. Robert W. Baird reduced their price target on shares of Intuitive Surgical from $600.00 to $575.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Evercore ISI increased their price target on shares of Intuitive Surgical from $470.00 to $550.00 and gave the stock an “in-line” rating in a report on Tuesday, July 8th. Citigroup reiterated a “buy” rating and issued a $650.00 target price (up from $590.00) on shares of Intuitive Surgical in a research report on Thursday, May 22nd. Truist Financial reduced their target price on shares of Intuitive Surgical from $605.00 to $590.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Finally, Royal Bank Of Canada cut their price objective on shares of Intuitive Surgical from $630.00 to $605.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $592.86.

Insider Activity

In other news, EVP Gary Loeb sold 1,700 shares of the stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $513.18, for a total transaction of $872,406.00. Following the transaction, the executive vice president directly owned 2,245 shares in the company, valued at $1,152,089.10. This represents a 43.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Robert Desantis sold 188 shares of the stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $515.91, for a total transaction of $96,991.08. Following the transaction, the executive vice president owned 5,224 shares in the company, valued at approximately $2,695,113.84. The trade was a 3.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,998 shares of company stock valued at $2,611,577 in the last 90 days. Company insiders own 0.70% of the company’s stock.

Intuitive Surgical Trading Down 0.8%

NASDAQ:ISRG opened at $512.23 on Wednesday. The firm has a market cap of $183.59 billion, a price-to-earnings ratio of 75.11, a price-to-earnings-growth ratio of 5.48 and a beta of 1.64. The company’s 50-day moving average is $537.18 and its two-hundred day moving average is $536.37. Intuitive Surgical, Inc. has a 12-month low of $413.82 and a 12-month high of $616.00.

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

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.