APG Asset Management N.V. Acquires 121,026 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• APG Asset Management N.V. increased its stake in Intuitive Surgical, Inc. by 35.6% during the first quarter, acquiring an additional 121,026 shares, bringing its total ownership to 461,189 shares valued at approximately $211.45 million.
• Several large investors also expanded their holdings in Intuitive Surgical, resulting in a significant 83.64% of the stock being owned by institutional investors.
• Intuitive Surgical's stock, currently rated as a Moderate Buy by analysts, has a consensus price target of $595.95, with various brokerages adjusting their ratings and estimates recently.

APG Asset Management N.V. boosted its position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 35.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 461,189 shares of the medical equipment provider's stock after buying an additional 121,026 shares during the quarter. APG Asset Management N.V. owned approximately 0.13% of Intuitive Surgical worth $211,454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Castleark Management LLC grew its position in shares of Intuitive Surgical by 3.4% in the fourth quarter. Castleark Management LLC now owns 90,469 shares of the medical equipment provider's stock valued at $47,221,000 after purchasing an additional 2,990 shares in the last quarter. Arlington Trust Co LLC grew its position in shares of Intuitive Surgical by 34.5% in the first quarter. Arlington Trust Co LLC now owns 745 shares of the medical equipment provider's stock valued at $369,000 after purchasing an additional 191 shares in the last quarter. Aveo Capital Partners LLC grew its position in shares of Intuitive Surgical by 37.4% in the first quarter. Aveo Capital Partners LLC now owns 727 shares of the medical equipment provider's stock valued at $390,000 after purchasing an additional 198 shares in the last quarter. Aaron Wealth Advisors LLC grew its position in shares of Intuitive Surgical by 3.2% in the first quarter. Aaron Wealth Advisors LLC now owns 2,509 shares of the medical equipment provider's stock valued at $1,243,000 after purchasing an additional 78 shares in the last quarter. Finally, Longbow Finance SA grew its position in shares of Intuitive Surgical by 132.0% in the first quarter. Longbow Finance SA now owns 19,699 shares of the medical equipment provider's stock valued at $9,756,000 after purchasing an additional 11,209 shares in the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on ISRG. Wall Street Zen upgraded Intuitive Surgical from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Citigroup restated a "buy" rating and issued a $650.00 target price (up from $590.00) on shares of Intuitive Surgical in a research note on Thursday, May 22nd. BTIG Research upped their target price on Intuitive Surgical from $566.00 to $571.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft lowered Intuitive Surgical from a "hold" rating to a "sell" rating and decreased their target price for the stock from $515.00 to $440.00 in a research note on Monday, June 9th. Finally, Erste Group Bank restated a "hold" rating on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. Thirteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $595.95.

Intuitive Surgical Stock Up 1.3%

Shares of ISRG stock opened at $476.16 on Friday. The business has a 50-day moving average price of $504.42 and a two-hundred day moving average price of $522.06. 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 price-to-earnings-growth ratio of 4.92 and a beta of 1.59.

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

Insiders Place Their Bets

In related news, SVP Mark Brosius sold 216 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $563.11, for a total value of $121,631.76. Following the sale, the senior vice president owned 907 shares in the company, valued at $510,740.77. This represents a 19.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Gary S. Guthart sold 7,893 shares of the company's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $498.64, for a total value of $3,935,765.52. Following the completion of the transaction, the insider directly owned 13,187 shares in the company, valued at $6,575,565.68. This trade represents a 37.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,839 shares of company stock worth $7,896,972. 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.

Want to see what other hedge funds are holding ISRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.