Sofinnova Investments Inc. Acquires 16,072 Shares of Intuitive Surgical, Inc. $ISRG

Sofinnova Investments Inc. boosted its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 14.5% during the 4th quarter, Holdings Channel reports. The fund owned 126,968 shares of the medical equipment provider’s stock after acquiring an additional 16,072 shares during the quarter. Intuitive Surgical comprises 2.9% of Sofinnova Investments Inc.’s portfolio, making the stock its 9th largest holding. Sofinnova Investments Inc.’s holdings in Intuitive Surgical were worth $71,910,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Intuitive Surgical by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 33,599,661 shares of the medical equipment provider’s stock valued at $15,026,776,000 after purchasing an additional 263,828 shares during the period. State Street Corp increased its position in shares of Intuitive Surgical by 1.0% during the 4th quarter. State Street Corp now owns 15,701,591 shares of the medical equipment provider’s stock valued at $8,892,753,000 after purchasing an additional 162,264 shares during the period. Capital World Investors increased its position in shares of Intuitive Surgical by 1.7% during the 4th quarter. Capital World Investors now owns 7,856,018 shares of the medical equipment provider’s stock valued at $4,449,491,000 after purchasing an additional 127,526 shares during the period. Norges Bank acquired a new position in shares of Intuitive Surgical during the 4th quarter valued at $2,856,987,000. Finally, Fisher Asset Management LLC increased its position in shares of Intuitive Surgical by 1.1% during the 3rd quarter. Fisher Asset Management LLC now owns 3,889,439 shares of the medical equipment provider’s stock valued at $1,739,475,000 after purchasing an additional 40,702 shares during the period. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ISRG shares. Truist Financial lowered their price target on Intuitive Surgical from $650.00 to $580.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. Zacks Research cut Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Leerink Partners lowered their price target on Intuitive Surgical from $622.00 to $573.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 22nd. JPMorgan Chase & Co. lowered their price target on Intuitive Surgical from $625.00 to $550.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 22nd. Finally, Mizuho set a $525.00 price target on Intuitive Surgical and gave the company a “neutral” rating in a research report on Monday, April 13th. Nineteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $571.28.

Insider Transactions at Intuitive Surgical

In other news, SVP Iman Jeddi sold 5,625 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $420.55, for a total value of $2,365,593.75. Following the completion of the sale, the senior vice president owned 6,463 shares of the company’s stock, valued at $2,718,014.65. This trade represents a 46.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 119 shares of the firm’s stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $463.50, for a total value of $55,156.50. Following the completion of the sale, the director directly owned 120 shares of the company’s stock, valued at approximately $55,620. This trade represents a 49.79% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 7,169 shares of company stock valued at $3,059,135 over the last quarter. Company insiders own 0.60% of the company’s stock.

Intuitive Surgical Stock Up 1.3%

Shares of Intuitive Surgical stock opened at $416.55 on Tuesday. The stock has a market cap of $147.53 billion, a PE ratio of 50.49, a price-to-earnings-growth ratio of 3.28 and a beta of 1.46. The business has a fifty day simple moving average of $442.17 and a 200-day simple moving average of $494.54. Intuitive Surgical, Inc. has a 12 month low of $396.68 and a 12 month high of $603.88.

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

About Intuitive Surgical

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.