Peapack Gladstone Financial Corp Increases Stock Position in Intuitive Surgical, Inc. $ISRG

Peapack Gladstone Financial Corp raised its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 13.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,584 shares of the medical equipment provider’s stock after buying an additional 2,136 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Intuitive Surgical were worth $10,525,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ISRG. Norges Bank purchased a new position in Intuitive Surgical during the fourth quarter valued at $2,856,987,000. Northwestern Mutual Wealth Management Co. lifted its position in Intuitive Surgical by 1,043.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,342,121 shares of the medical equipment provider’s stock valued at $760,124,000 after buying an additional 1,224,734 shares during the period. Assenagon Asset Management S.A. lifted its position in Intuitive Surgical by 106.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,533,771 shares of the medical equipment provider’s stock valued at $868,667,000 after buying an additional 791,516 shares during the period. Amundi lifted its position in Intuitive Surgical by 29.7% during the third quarter. Amundi now owns 3,227,472 shares of the medical equipment provider’s stock valued at $1,451,362,000 after buying an additional 739,444 shares during the period. Finally, Sands Capital Management LLC lifted its position in Intuitive Surgical by 77.0% during the third quarter. Sands Capital Management LLC now owns 1,341,109 shares of the medical equipment provider’s stock valued at $599,784,000 after buying an additional 583,539 shares during the period. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Stock Performance

NASDAQ ISRG opened at $412.26 on Tuesday. Intuitive Surgical, Inc. has a one year low of $411.83 and a one year high of $603.88. The stock has a 50-day moving average of $452.19 and a 200 day moving average of $504.81. The company has a market capitalization of $146.01 billion, a price-to-earnings ratio of 49.97, a PEG ratio of 3.39 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG) last posted its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.42. The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.62 billion. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The business’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.81 EPS. On average, equities analysts predict that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ISRG. Zacks Research lowered Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Barclays set a $651.00 price target on Intuitive Surgical and gave the company an “overweight” rating in a report on Thursday, April 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Intuitive Surgical in a report on Tuesday, May 19th. TD Cowen reduced their price target on Intuitive Surgical from $660.00 to $585.00 and set a “buy” rating for the company in a report on Wednesday, April 22nd. Finally, Truist Financial reduced their price target on Intuitive Surgical from $650.00 to $580.00 and set a “buy” rating for the company in a report on Wednesday, April 15th. Nineteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Intuitive Surgical has a consensus rating of “Moderate Buy” and an average price target of $576.71.

Insider Activity at Intuitive Surgical

In other news, SVP Mark Brosius sold 645 shares of the firm’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $485.01, for a total transaction of $312,831.45. Following the sale, the senior vice president owned 1,613 shares of the company’s stock, valued at $782,321.13. This trade represents a 28.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Myriam Curet sold 105 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $493.95, for a total transaction of $51,864.75. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 4,833 shares of company stock worth $2,357,582. 0.60% of the stock is owned by insiders.

Intuitive Surgical Company Profile

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon’s hand movements into finer, scaled motions of small instruments inside the patient. Intuitive’s business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.