BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Buys 8,270 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• British Columbia Investment Management Corp increased its stake in Intuitive Surgical by 12.2%, acquiring an additional 8,270 shares, bringing its total holdings to 76,317 shares valued at approximately $37.8 million.
• Analysts have set price targets for Intuitive Surgical, with estimates ranging from $571.00 to $650.00, reflecting a generally positive outlook and multiple "buy" ratings.
• Insider transactions indicate a decrease in ownership for some executives, with notable sales including insider Gary S. Guthart, who sold 2,800 shares, reducing his stake by 13.13%.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 12.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 76,317 shares of the medical equipment provider's stock after acquiring an additional 8,270 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Intuitive Surgical were worth $37,798,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ISRG. Brighton Jones LLC grew its stake in shares of Intuitive Surgical by 24.9% during the 4th quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider's stock valued at $1,916,000 after acquiring an additional 731 shares during the period. Bank Pictet & Cie Europe AG grew its stake in shares of Intuitive Surgical by 0.5% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 190,969 shares of the medical equipment provider's stock valued at $99,678,000 after acquiring an additional 883 shares during the period. Burling Wealth Partners LLC bought a new position in shares of Intuitive Surgical during the 4th quarter valued at approximately $584,000. Integrated Wealth Concepts LLC grew its stake in shares of Intuitive Surgical by 14.7% during the 4th quarter. Integrated Wealth Concepts LLC now owns 5,530 shares of the medical equipment provider's stock valued at $2,886,000 after acquiring an additional 709 shares during the period. Finally, Topsail Wealth Management LLC bought a new position in shares of Intuitive Surgical during the 4th quarter valued at approximately $290,000. 83.64% of the stock is currently owned by institutional investors.

Insider Transactions at Intuitive Surgical

In other news, insider Gary S. Guthart sold 2,800 shares of the company's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $495.24, for a total transaction of $1,386,672.00. Following the sale, the insider directly owned 18,520 shares of the company's stock, valued at $9,171,844.80. This represents a 13.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 directly owned 907 shares in the company, valued at $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 have sold 15,839 shares of company stock valued at $7,896,972 in the last ninety days. Corporate insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

ISRG has been the topic of a number of research analyst reports. Royal Bank Of Canada reissued an "outperform" rating and issued a $615.00 price target on shares of Intuitive Surgical in a report on Tuesday. BTIG Research boosted their price target on Intuitive Surgical from $566.00 to $571.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. UBS Group boosted their price target on Intuitive Surgical from $547.00 to $585.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Truist Financial boosted their price target on Intuitive Surgical from $590.00 to $600.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Finally, Citigroup reissued a "buy" rating and issued a $650.00 price target (up from $590.00) on shares of Intuitive Surgical in a report on Thursday, May 22nd. 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $595.95.

Intuitive Surgical Price Performance

Shares of ISRG opened at $476.16 on Friday. The stock has a market capitalization of $170.69 billion, a price-to-earnings ratio of 66.41, a price-to-earnings-growth ratio of 4.92 and a beta of 1.59. Intuitive Surgical, Inc. has a 1 year low of $425.00 and a 1 year high of $616.00. The business's 50 day simple moving average is $504.42 and its 200-day simple moving average is $522.06.

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

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.

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