2,558 Intuitive Surgical, Inc. $ISRG Shares Purchased by NorthCrest Asset Manangement LLC

Key Points

• NorthCrest Asset Management increased its Intuitive Surgical stake by 16% in the third quarter, purchasing 2,558 shares and bringing its holdings to 18,534 shares valued at approximately $7.7 million. Institutional investors collectively own 83.64% of the company.
• Intuitive Surgical insiders sold 12,370 shares worth about $4.9 million during the last quarter, including sales by executives Mark Brosius and Fredrik Widman under pre-arranged Rule 10b5-1 plans.
• Analysts maintain a broadly positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $501.98. The company recently exceeded quarterly earnings and revenue estimates, reporting $2.80 in EPS and $2.89 billion in revenue.

NorthCrest Asset Manangement LLC grew its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 16.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 18,534 shares of the medical equipment provider's stock after acquiring an additional 2,558 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in Intuitive Surgical were worth $7,699,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of ISRG. 3Chopt Investment Partners LLC lifted its position in Intuitive Surgical by 5.2% in the first quarter. 3Chopt Investment Partners LLC now owns 462 shares of the medical equipment provider's stock worth $213,000 after purchasing an additional 23 shares during the period. Vermillion Wealth Management Inc. increased its position in shares of Intuitive Surgical by 58.1% during the 1st quarter. Vermillion Wealth Management Inc. now owns 68 shares of the medical equipment provider's stock valued at $31,000 after purchasing an additional 25 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co increased its position in shares of Intuitive Surgical by 1.0% during the 1st quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 2,542 shares of the medical equipment provider's stock valued at $1,172,000 after purchasing an additional 25 shares during the period. Blue Fin Capital Inc. raised its stake in shares of Intuitive Surgical by 0.5% in the 1st quarter. Blue Fin Capital Inc. now owns 4,794 shares of the medical equipment provider's stock worth $2,210,000 after buying an additional 25 shares in the last quarter. Finally, Red Spruce Capital LLC raised its stake in shares of Intuitive Surgical by 4.1% in the 2nd quarter. Red Spruce Capital LLC now owns 640 shares of the medical equipment provider's stock worth $255,000 after buying an additional 25 shares in the last quarter. Institutional investors own 83.64% of the company's stock.

Insider Buying and Selling

In related news, EVP Mark Brosius sold 77 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $375.57, for a total value of $28,918.89. Following the completion of the sale, the executive vice president owned 881 shares in the company, valued at approximately $330,877.17. This trade represents a 8.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Fredrik Widman sold 1,089 shares of the firm's stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $374.44, for a total value of $407,765.16. Following the completion of the sale, the vice president owned 1,026 shares of the company's stock, valued at $384,175.44. This represents a 51.49% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 12,370 shares of company stock worth $4,891,989. 0.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ISRG shares. Mizuho set a $500.00 price objective on Intuitive Surgical and gave the company a "neutral" rating in a report on Wednesday, July 15th. Weiss Ratings reiterated a "hold (c)" rating on shares of Intuitive Surgical in a research report on Friday, August 14th. KeyCorp reiterated an "overweight" rating on shares of Intuitive Surgical in a research report on Wednesday, August 12th. BMO Capital Markets reissued an "outperform" rating on shares of Intuitive Surgical in a report on Monday, July 20th. Finally, UBS Group assumed coverage on shares of Intuitive Surgical in a research report on Tuesday, July 28th. They set a "neutral" rating and a $500.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $501.98.

Intuitive Surgical Price Performance

Shares of NASDAQ:ISRG opened at $427.64 on Tuesday. The stock has a market capitalization of $151.08 billion, a P/E ratio of 48.99, a P/E/G ratio of 3.20 and a beta of 1.46. The business has a 50-day moving average of $387.41 and a two-hundred day moving average of $410.47. Intuitive Surgical, Inc. has a fifty-two week low of $328.57 and a fifty-two week high of $603.88.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its quarterly earnings results on Thursday, July 16th. The medical equipment provider reported $2.80 EPS for the quarter, beating analysts' consensus estimates of $2.48 by $0.32. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.83 billion. Intuitive Surgical had a net margin of 28.45% and a return on equity of 16.91%. The company's quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.81 earnings per share. As a group, research analysts expect that Intuitive Surgical, Inc. will post 8.87 EPS for the current fiscal year.

Intuitive Surgical Profile

Intuitive Surgical, Inc develops and commercializes robotic-assisted systems and related technologies designed to support minimally invasive medical procedures. The company's products are intended to help surgeons perform operations through small incisions while providing enhanced visualization, precision, and control.

Its principal product is the da Vinci Surgical System, a platform used across a range of specialties, including general surgery, urology, gynecology, thoracic surgery, and cardiac procedures.

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