Bleakley Financial Group LLC Increases Stake in Intuitive Surgical, Inc. $ISRG

Key Points

• Bleakley Financial Group LLC has increased its stake in Intuitive Surgical, Inc. by 21.0%, owning 14,699 shares worth approximately $7.99 million as of the end of the second quarter.
• Multiple hedge funds have also adjusted their positions, with 83.64% of Intuitive Surgical's stock owned by institutional investors.
• Analysts' consensus rating for Intuitive Surgical is a "Moderate Buy" with a target price of $602.91, despite some firms lowering their buy ratings recently.

Bleakley Financial Group LLC increased its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 21.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,699 shares of the medical equipment provider's stock after purchasing an additional 2,553 shares during the period. Bleakley Financial Group LLC's holdings in Intuitive Surgical were worth $7,988,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ISRG. Chilton Capital Management LLC lifted its stake in shares of Intuitive Surgical by 614.3% during the 1st quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock worth $25,000 after acquiring an additional 43 shares during the last quarter. Elite Financial Inc. purchased a new position in shares of Intuitive Surgical during the first quarter valued at $26,000. LFA Lugano Financial Advisors SA purchased a new position in shares of Intuitive Surgical during the first quarter valued at $30,000. TD Capital Management LLC raised its holdings in shares of Intuitive Surgical by 300.0% in the first quarter. TD Capital Management LLC now owns 60 shares of the medical equipment provider's stock valued at $30,000 after acquiring an additional 45 shares in the last quarter. Finally, 1248 Management LLC purchased a new stake in Intuitive Surgical in the first quarter worth about $30,000. 83.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on ISRG. Wall Street Zen lowered shares of Intuitive Surgical from a "buy" rating to a "hold" rating in a report on Saturday, October 18th. Sanford C. Bernstein reissued an "outperform" rating and set a $685.00 price objective on shares of Intuitive Surgical in a report on Tuesday. UBS Group set a $600.00 target price on Intuitive Surgical in a report on Thursday. Piper Sandler increased their target price on Intuitive Surgical from $595.00 to $610.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, The Goldman Sachs Group reduced their price target on Intuitive Surgical from $621.00 to $567.00 and set a "buy" rating for the company in a research report on Wednesday, October 1st. Sixteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $602.91.

Insider Activity

In related news, insider Gary S. Guthart sold 29,360 shares of the company's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $472.49, for a total value of $13,872,306.40. Following the transaction, the insider directly owned 19,827 shares of the company's stock, valued at $9,368,059.23. This represents a 59.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Amy L. Ladd sold 335 shares of Intuitive Surgical stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $440.69, for a total value of $147,631.15. Following the sale, the director directly owned 739 shares of the company's stock, valued at approximately $325,669.91. This represents a 31.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,224 shares of company stock valued at $21,716,492 over the last ninety days. 0.70% of the stock is currently owned by insiders.

Intuitive Surgical Price Performance

Shares of NASDAQ:ISRG opened at $527.03 on Thursday. The business's 50-day moving average is $455.28 and its 200 day moving average is $495.80. Intuitive Surgical, Inc. has a 1 year low of $425.00 and a 1 year high of $616.00. The firm has a market capitalization of $188.93 billion, a P/E ratio of 69.71, a P/E/G ratio of 4.86 and a beta of 1.61.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued its quarterly earnings results on Tuesday, October 21st. The medical equipment provider reported $2.40 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.41. The business had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.41 billion. Intuitive Surgical had a return on equity of 15.03% and a net margin of 28.58%.The company's quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter last year, the company earned $1.84 earnings per share. On average, analysts expect that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

Intuitive Surgical 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.

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