Intuitive Surgical, Inc. $ISRG Position Increased by Atle Fund Management AB

Key Points

• Atle Fund Management AB increased its holdings in Intuitive Surgical by 20.9%, acquiring an additional 3,214 shares during the second quarter, bringing their total to 18,559 shares valued at $10,085,000.
• Several hedge funds also raised their positions in Intuitive Surgical, with notable increases by Brighton Jones LLC and Bank Pictet & Cie Europe AG, reflecting strong interest from institutional investors who collectively own 83.64% of the company's stock.
• Analysts remain optimistic about Intuitive Surgical, with multiple firms raising their price targets, resulting in a consensus rating of "Moderate Buy" with an average price target of $595.95.

Atle Fund Management AB boosted its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 20.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,559 shares of the medical equipment provider's stock after buying an additional 3,214 shares during the quarter. Intuitive Surgical makes up approximately 4.3% of Atle Fund Management AB's investment portfolio, making the stock its 8th biggest holding. Atle Fund Management AB's holdings in Intuitive Surgical were worth $10,085,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in Intuitive Surgical by 24.9% during the fourth quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider's stock valued at $1,916,000 after purchasing an additional 731 shares during the period. Bank Pictet & Cie Europe AG lifted its position in Intuitive Surgical by 0.5% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 190,969 shares of the medical equipment provider's stock valued at $99,678,000 after purchasing an additional 883 shares during the period. Sunbelt Securities Inc. lifted its position in Intuitive Surgical by 13.7% during the fourth quarter. Sunbelt Securities Inc. now owns 1,340 shares of the medical equipment provider's stock valued at $706,000 after purchasing an additional 161 shares during the period. GF Fund Management CO. LTD. acquired a new position in Intuitive Surgical during the fourth quarter valued at $38,798,000. Finally, Cache Advisors LLC acquired a new position in Intuitive Surgical during the fourth quarter valued at $240,000. 83.64% of the stock is owned by hedge funds and other institutional investors.

Intuitive Surgical Trading Up 1.3%

NASDAQ:ISRG traded up $5.83 during midday trading on Monday, hitting $444.55. 2,652,022 shares of the company were exchanged, compared to its average volume of 2,049,169. The company has a fifty day simple moving average of $476.64 and a 200 day simple moving average of $503.43. Intuitive Surgical, Inc. has a fifty-two week low of $425.00 and a fifty-two week high of $616.00. The company has a market capitalization of $159.36 billion, a PE ratio of 62.00, a price-to-earnings-growth ratio of 4.60 and a beta of 1.61.

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

Wall Street Analysts Forecast Growth

ISRG has been the subject of a number of analyst reports. UBS Group upped their price objective on shares of Intuitive Surgical from $547.00 to $585.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Piper Sandler reaffirmed an "overweight" rating and issued a $595.00 price target (up previously from $575.00) on shares of Intuitive Surgical in a report on Wednesday, July 23rd. Wall Street Zen raised Intuitive Surgical from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Erste Group Bank reaffirmed a "hold" rating on shares of Intuitive Surgical in a report on Wednesday, July 23rd. Finally, Evercore ISI upped their price target on Intuitive Surgical from $470.00 to $550.00 and gave the stock an "in-line" rating in a report on Tuesday, July 8th. Thirteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Intuitive Surgical presently has an average rating of "Moderate Buy" and an average price target of $595.95.

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, EVP Myriam Curet sold 4,500 shares of Intuitive Surgical stock in a transaction on Friday, July 25th. The shares were sold at an average price of $492.48, for a total value of $2,216,160.00. Following the transaction, the executive vice president directly owned 353 shares in the company, valued at approximately $173,845.44. The trade was a 92.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gary S. Guthart sold 29,360 shares of Intuitive Surgical stock in a transaction on Friday, August 29th. The shares were sold at an average price of $472.49, for a total transaction of $13,872,306.40. Following the completion of the transaction, the insider owned 19,827 shares in the company, valued at approximately $9,368,059.23. This represents a 59.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,224 shares of company stock worth $21,716,492. 0.70% of the stock is owned by company insiders.

About Intuitive Surgical

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.