OFI Invest Asset Management Raises Stake in Intuitive Surgical, Inc. $ISRG

OFI Invest Asset Management boosted its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 1,163.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 107,582 shares of the medical equipment provider’s stock after buying an additional 99,069 shares during the period. OFI Invest Asset Management’s holdings in Intuitive Surgical were worth $58,461,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Intuitive Surgical by 1.4% in the first quarter. Vanguard Group Inc. now owns 32,665,531 shares of the medical equipment provider’s stock valued at $16,178,258,000 after acquiring an additional 453,335 shares during the period. Invesco Ltd. raised its stake in shares of Intuitive Surgical by 1.7% during the 1st quarter. Invesco Ltd. now owns 4,219,974 shares of the medical equipment provider’s stock worth $2,090,027,000 after buying an additional 71,794 shares during the period. Northern Trust Corp raised its stake in shares of Intuitive Surgical by 0.3% during the 1st quarter. Northern Trust Corp now owns 3,631,281 shares of the medical equipment provider’s stock worth $1,798,465,000 after buying an additional 11,988 shares during the period. Wellington Management Group LLP raised its stake in shares of Intuitive Surgical by 15.0% during the 1st quarter. Wellington Management Group LLP now owns 3,499,052 shares of the medical equipment provider’s stock worth $1,732,975,000 after buying an additional 457,080 shares during the period. Finally, Nuveen LLC acquired a new position in shares of Intuitive Surgical during the 1st quarter worth approximately $1,715,899,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Truist Financial upped their target price on Intuitive Surgical from $590.00 to $600.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of Intuitive Surgical in a research report on Friday, August 22nd. Evercore ISI dropped their price target on Intuitive Surgical from $535.00 to $450.00 and set an “in-line” rating for the company in a research report on Tuesday, October 7th. UBS Group boosted their price target on Intuitive Surgical from $547.00 to $585.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 23rd. Finally, Zacks Research cut Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 20th. Fourteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Intuitive Surgical currently has a consensus rating of “Moderate Buy” and an average target price of $589.43.

Insider Transactions at Intuitive Surgical

In other news, Director Amy L. Ladd sold 335 shares of the firm’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $440.69, for a total transaction of $147,631.15. Following the sale, the director owned 739 shares of the company’s stock, valued at approximately $325,669.91. This trade represents a 31.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gary S. Guthart sold 29,360 shares of Intuitive Surgical stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $472.49, for a total value of $13,872,306.40. Following the transaction, the insider directly owned 19,827 shares in the company, valued at approximately $9,368,059.23. This trade represents a 59.69% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,224 shares of company stock valued at $21,716,492. Corporate insiders own 0.70% of the company’s stock.

Intuitive Surgical Price Performance

Shares of Intuitive Surgical stock opened at $429.59 on Friday. The business has a 50-day moving average of $458.68 and a 200 day moving average of $497.91. Intuitive Surgical, Inc. has a 12 month low of $425.00 and a 12 month high of $616.00. The stock has a market capitalization of $154.00 billion, a price-to-earnings ratio of 59.91, a price-to-earnings-growth ratio of 4.51 and a beta of 1.61.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings data on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.26. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%.The business’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.78 EPS. Equities research analysts anticipate that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

About Intuitive Surgical

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.