96,000 Shares in Intuitive Surgical, Inc. $ISRG Purchased by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp opened a new position in Intuitive Surgical, buying 96,000 shares in the fourth quarter valued at about $54.4 million.
• Institutional ownership remains very high, with hedge funds and other investors owning 83.64% of Intuitive Surgical’s stock. Several smaller firms also added to or initiated positions recently.
• Analysts remain cautiously optimistic overall: the stock carries a Moderate Buy consensus with a $573.42 price target, even though some firms recently trimmed targets and ratings. The company also beat quarterly earnings expectations, reporting $2.50 EPS on $2.77 billion in revenue.

Alberta Investment Management Corp purchased a new stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 96,000 shares of the medical equipment provider's stock, valued at approximately $54,371,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Holos Integrated Wealth LLC acquired a new position in shares of Intuitive Surgical in the fourth quarter valued at approximately $25,000. Newbridge Financial Services Group Inc. raised its stake in shares of Intuitive Surgical by 300.0% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider's stock worth $25,000 after purchasing an additional 33 shares during the last quarter. Olistico Wealth LLC acquired a new stake in shares of Intuitive Surgical during the fourth quarter worth $28,000. Caitlin John LLC acquired a new stake in shares of Intuitive Surgical during the third quarter worth $30,000. Finally, Laurel Wealth Advisors LLC purchased a new position in Intuitive Surgical in the 4th quarter valued at $31,000. Institutional investors and hedge funds own 83.64% of the company's stock.

Wall Street Analysts Forecast Growth

ISRG has been the topic of several recent research reports. Jefferies Financial Group dropped their price objective on shares of Intuitive Surgical from $560.00 to $515.00 and set a "hold" rating on the stock in a research note on Wednesday, April 22nd. HSBC reduced their target price on shares of Intuitive Surgical from $653.00 to $604.00 and set a "buy" rating for the company in a research note on Wednesday, April 22nd. Zacks Research lowered shares of Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 30th. Piper Sandler reiterated an "overweight" rating and set a $580.00 price target on shares of Intuitive Surgical in a research note on Tuesday, June 2nd. Finally, Wall Street Zen raised shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a report on Saturday, June 13th. Nineteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Intuitive Surgical currently has a consensus rating of "Moderate Buy" and a consensus price target of $573.42.

Intuitive Surgical Price Performance

Shares of ISRG stock opened at $406.78 on Friday. The business's fifty day moving average price is $439.54 and its 200 day moving average price is $491.05. The firm has a market capitalization of $144.07 billion, a PE ratio of 49.31, a P/E/G ratio of 3.27 and a beta of 1.46. Intuitive Surgical, Inc. has a 1-year low of $396.68 and a 1-year high of $603.88.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 EPS for the quarter, beating analysts' consensus estimates of $2.08 by $0.42. The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.62 billion. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.Intuitive Surgical's quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.81 earnings per share. Equities research analysts expect that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Amy L. Ladd sold 500 shares of the business's stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $473.46, for a total transaction of $236,730.00. Following the sale, the director owned 239 shares of the company's stock, valued at approximately $113,156.94. The trade was a 67.66% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of the company's stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total transaction of $169,656.00. Following the transaction, the executive vice president owned 5,720 shares in the company, valued at $2,426,080.80. The trade was a 6.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 7,169 shares of company stock worth $3,059,135 in the last 90 days. 0.60% of the stock is currently owned by corporate insiders.

Intuitive Surgical 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.

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