Pinnacle Associates Ltd. Increases Position in Intuitive Surgical, Inc. $ISRG

Pinnacle Associates Ltd. increased its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 6.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,578 shares of the medical equipment provider’s stock after acquiring an additional 157 shares during the period. Pinnacle Associates Ltd.’s holdings in Intuitive Surgical were worth $1,401,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position 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 worth $16,178,258,000 after acquiring an additional 453,335 shares in the last quarter. Invesco Ltd. lifted its stake in Intuitive Surgical by 1.7% in the first quarter. Invesco Ltd. now owns 4,219,974 shares of the medical equipment provider’s stock worth $2,090,027,000 after purchasing an additional 71,794 shares during the last quarter. Northern Trust Corp lifted its stake in Intuitive Surgical by 0.3% in the first quarter. Northern Trust Corp now owns 3,631,281 shares of the medical equipment provider’s stock worth $1,798,465,000 after purchasing an additional 11,988 shares during the last quarter. Wellington Management Group LLP lifted its stake in Intuitive Surgical by 15.0% in the first quarter. Wellington Management Group LLP now owns 3,499,052 shares of the medical equipment provider’s stock worth $1,732,975,000 after purchasing an additional 457,080 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Intuitive Surgical in the first quarter worth $1,715,899,000. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Amy L. Ladd sold 336 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $470.11, for a total value of $157,956.96. Following the completion of the transaction, the director directly owned 1,074 shares of the company’s stock, valued at $504,898.14. This represents a 23.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Gary S. Guthart sold 29,360 shares of the stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $472.49, for a total transaction of $13,872,306.40. Following the completion of the transaction, the insider directly owned 19,827 shares of the company’s stock, valued at approximately $9,368,059.23. The trade was a 59.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 96,011 shares of company stock valued at $50,309,042 over the last quarter. 0.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

ISRG has been the subject of several recent research reports. Robert W. Baird set a $655.00 price target on shares of Intuitive Surgical in a research note on Wednesday, October 22nd. Piper Sandler boosted their price target on shares of Intuitive Surgical from $595.00 to $610.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Royal Bank Of Canada set a $625.00 price target on shares of Intuitive Surgical and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Raymond James Financial set a $603.00 price target on shares of Intuitive Surgical and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Finally, Wall Street Zen raised shares of Intuitive Surgical from a “hold” rating to a “buy” rating in a research note on Sunday, October 26th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $608.92.

Intuitive Surgical Trading Up 0.8%

Shares of NASDAQ:ISRG opened at $534.28 on Monday. The company has a market cap of $191.53 billion, a price-to-earnings ratio of 70.67, a price-to-earnings-growth ratio of 4.94 and a beta of 1.61. The company has a 50-day moving average price of $464.32 and a 200-day moving average price of $498.73. Intuitive Surgical, Inc. has a 12 month low of $425.00 and a 12 month high of $616.00.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings data on Tuesday, October 21st. The medical equipment provider reported $2.40 EPS for the quarter, beating the consensus estimate of $1.99 by $0.41. The firm had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.41 billion. Intuitive Surgical had a net margin of 28.58% and a return on equity of 15.08%. The company’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.84 earnings per share. As a group, research analysts forecast that Intuitive Surgical, Inc. will post 6.43 EPS 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.