Allstate Corp Purchases 14,131 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Allstate Corp significantly increased its stake in Intuitive Surgical during the fourth quarter, buying 14,131 additional shares and boosting its holdings by 107.4% to 27,290 shares worth about $15.5 million.
• Wall Street remains broadly positive on ISRG, with 19 analysts rating it a Buy and the stock carrying a consensus “Moderate Buy” rating and average price target of $579.33, despite several firms trimming their targets.
• Intuitive Surgical posted strong quarterly results, reporting EPS of $2.50 and revenue of $2.77 billion, both above expectations, while revenue rose 23% year over year.

Allstate Corp grew its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 107.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,290 shares of the medical equipment provider's stock after purchasing an additional 14,131 shares during the quarter. Allstate Corp's holdings in Intuitive Surgical were worth $15,456,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Summitry LLC bought a new stake in Intuitive Surgical during the fourth quarter worth about $233,000. Annis Gardner Whiting Capital Advisors LLC increased its holdings in shares of Intuitive Surgical by 39.6% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 381 shares of the medical equipment provider's stock worth $216,000 after buying an additional 108 shares during the period. Choate Investment Advisors increased its holdings in Intuitive Surgical by 28.4% during the 4th quarter. Choate Investment Advisors now owns 2,688 shares of the medical equipment provider's stock valued at $1,523,000 after purchasing an additional 595 shares during the period. CYBER HORNET ETFs LLC increased its holdings in Intuitive Surgical by 6.3% during the 4th quarter. CYBER HORNET ETFs LLC now owns 1,022 shares of the medical equipment provider's stock valued at $579,000 after purchasing an additional 61 shares during the period. Finally, Clearstead Advisors LLC grew its holdings in shares of Intuitive Surgical by 54.1% during the 4th quarter. Clearstead Advisors LLC now owns 8,354 shares of the medical equipment provider's stock worth $4,731,000 after acquiring an additional 2,932 shares during the period. 83.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ISRG. Mizuho set a $525.00 target price on Intuitive Surgical and gave the stock a "neutral" rating in a report on Monday, April 13th. Jefferies Financial Group dropped their price target on Intuitive Surgical from $560.00 to $515.00 and set a "hold" rating on the stock in a research report on Wednesday, April 22nd. Raymond James Financial dropped their price target on Intuitive Surgical from $615.00 to $577.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 22nd. JPMorgan Chase & Co. dropped 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, Argus dropped their price target on Intuitive Surgical from $630.00 to $560.00 and set a "buy" rating on the stock in a research report on Wednesday, February 4th. 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. According to data from MarketBeat.com, Intuitive Surgical presently has a consensus rating of "Moderate Buy" and a consensus price target of $579.33.

Insider Buying and Selling at Intuitive Surgical

In other news, EVP Myriam Curet sold 105 shares of Intuitive Surgical stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $493.95, for a total value of $51,864.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Amy L. Ladd sold 119 shares of Intuitive Surgical stock in a transaction dated 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 in the company, valued at $55,620. This trade represents a 49.79% decrease in their ownership of the stock. 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 5,701 shares of company stock valued at $2,783,807. 0.60% of the stock is currently owned by corporate insiders.

Intuitive Surgical Stock Performance

Shares of ISRG opened at $438.10 on Tuesday. The firm has a market cap of $155.16 billion, a PE ratio of 53.10, a P/E/G ratio of 3.50 and a beta of 1.51. The firm has a fifty day simple moving average of $457.79 and a two-hundred day simple moving average of $509.66. Intuitive Surgical, Inc. has a 1-year low of $417.74 and a 1-year high of $603.88.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $2.77 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the business posted $1.81 EPS. As a group, research analysts forecast that Intuitive Surgical, Inc. will post 8.57 EPS for the current fiscal year.

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.

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