Allstate Corp Increases Stake in Intuitive Surgical, Inc. $ISRG

Key Points

• Allstate Corp increased its stake in Intuitive Surgical by 9.6%, holding 11,502 shares valued at approximately $5.7 million as of its latest SEC filing.
• Analysts have mixed ratings on Intuitive Surgical, with Citigroup maintaining a "buy" rating and raising its price target to $650, while Zacks downgraded the stock from "strong-buy" to "hold."
• Intuitive Surgical's latest earnings report showed a 21.4% increase in revenue year-over-year, with reported earnings per share of $2.19, surpassing analyst expectations.

Allstate Corp lifted its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 9.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,502 shares of the medical equipment provider's stock after acquiring an additional 1,011 shares during the period. Allstate Corp's holdings in Intuitive Surgical were worth $5,697,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Chilton Capital Management LLC raised its position in shares of Intuitive Surgical by 614.3% in the first quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock worth $25,000 after buying an additional 43 shares in the last quarter. Parvin Asset Management LLC purchased a new stake in shares of Intuitive Surgical in the fourth quarter worth $26,000. Global Financial Private Client LLC raised its position in shares of Intuitive Surgical by 253.3% in the first quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider's stock worth $26,000 after buying an additional 38 shares in the last quarter. Elite Financial Inc. purchased a new stake in shares of Intuitive Surgical in the first quarter worth $26,000. Finally, LFA Lugano Financial Advisors SA purchased a new stake in shares of Intuitive Surgical in the first quarter worth $30,000. 83.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ISRG. Evercore ISI increased their price objective on Intuitive Surgical from $470.00 to $550.00 and gave the stock an "in-line" rating in a research report on Tuesday, July 8th. Wall Street Zen upgraded Intuitive Surgical from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Erste Group Bank reissued a "hold" rating on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. Zacks Research cut Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a research note on Wednesday. Finally, Truist Financial increased their target price on Intuitive Surgical from $590.00 to $600.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Thirteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Intuitive Surgical presently has an average rating of "Moderate Buy" and an average target price of $595.95.

Intuitive Surgical Price Performance

NASDAQ ISRG traded up $6.28 during trading on Friday, hitting $476.16. 2,023,902 shares of the company's stock traded hands, compared to its average volume of 1,980,700. The stock has a fifty day moving average of $504.42 and a two-hundred day moving average of $521.12. Intuitive Surgical, Inc. has a 12-month low of $425.00 and a 12-month high of $616.00. The firm has a market cap of $170.69 billion, a P/E ratio of 66.41, a PEG ratio of 4.99 and a beta of 1.59.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.26. Intuitive Surgical had a net margin of 28.51% and a return on equity of 14.56%. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the business posted $1.78 earnings per share. The company's revenue was up 21.4% on a year-over-year basis. As a group, analysts expect that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Intuitive Surgical

In other news, EVP Myriam Curet sold 4,500 shares of the company's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $492.48, for a total transaction of $2,216,160.00. Following the completion of the transaction, the executive vice president directly owned 353 shares of the company's stock, valued at approximately $173,845.44. This represents a 92.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Mark Brosius sold 216 shares of the company's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $563.11, for a total transaction of $121,631.76. Following the transaction, the senior vice president directly owned 907 shares of the company's stock, valued at approximately $510,740.77. This trade represents a 19.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,839 shares of company stock worth $7,896,972 over the last three months. Company insiders own 0.70% of the company's stock.

Intuitive Surgical Company 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.