Burns J W & Co. Inc. NY Purchases 5,075 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Burns J W & Co. Inc. NY increased its stake in Intuitive Surgical by 43.2% during the second quarter, acquiring an additional 5,075 shares to hold a total of 16,814 shares, valued at $9.14 million.
• Institutional investors now own 83.64% of Intuitive Surgical’s stock, with multiple hedge funds significantly boosting their holdings in recent months.
• Intuitive Surgical reported a 21.4% increase in revenue year-over-year, with $2.19 earnings per share, surpassing analyst expectations.

Burns J W & Co. Inc. NY raised its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 43.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,814 shares of the medical equipment provider's stock after purchasing an additional 5,075 shares during the period. Intuitive Surgical makes up about 1.1% of Burns J W & Co. Inc. NY's portfolio, making the stock its 23rd largest holding. Burns J W & Co. Inc. NY's holdings in Intuitive Surgical were worth $9,137,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Intuitive Surgical by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 32,665,531 shares of the medical equipment provider's stock worth $16,178,258,000 after acquiring an additional 453,335 shares during the period. Invesco Ltd. lifted its holdings in shares of Intuitive Surgical by 1.7% during the 1st quarter. Invesco Ltd. now owns 4,219,974 shares of the medical equipment provider's stock worth $2,090,027,000 after acquiring an additional 71,794 shares during the period. Northern Trust Corp lifted its holdings in shares of Intuitive Surgical by 0.3% during the 1st quarter. Northern Trust Corp now owns 3,631,281 shares of the medical equipment provider's stock worth $1,798,465,000 after acquiring an additional 11,988 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Intuitive Surgical by 15.0% during the 1st quarter. Wellington Management Group LLP now owns 3,499,052 shares of the medical equipment provider's stock worth $1,732,975,000 after acquiring an additional 457,080 shares during the period. Finally, Nuveen LLC bought a new position in Intuitive Surgical in the 1st quarter valued at approximately $1,715,899,000. Institutional investors own 83.64% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ISRG. Wells Fargo & Company increased their price objective on shares of Intuitive Surgical from $559.00 to $599.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Piper Sandler reissued an "overweight" rating and issued a $595.00 price objective (up previously from $575.00) on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. Zacks Research downgraded shares of Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 20th. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Intuitive Surgical in a research report on Friday, August 22nd. Finally, UBS Group upped their price target on shares of Intuitive Surgical from $547.00 to $585.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Thirteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $595.95.

Intuitive Surgical Trading Up 1.2%

Shares of ISRG traded up $5.17 during mid-day trading on Tuesday, reaching $449.72. The company's stock had a trading volume of 665,370 shares, compared to its average volume of 2,041,225. The stock has a market cap of $161.22 billion, a PE ratio of 62.65, a P/E/G ratio of 4.60 and a beta of 1.61. Intuitive Surgical, Inc. has a 52 week low of $425.00 and a 52 week high of $616.00. The company's fifty day moving average price is $475.20 and its two-hundred day moving average price is $502.92.

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

Insider Buying and Selling at Intuitive Surgical

In other news, Director Amy L. Ladd sold 336 shares of the company's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $470.11, for a total value of $157,956.96. Following the sale, the director directly owned 1,074 shares of the company's stock, valued at $504,898.14. This represents a 23.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Myriam Curet sold 4,500 shares of the company's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $492.48, for a total transaction of $2,216,160.00. Following the completion of the sale, the executive vice president directly owned 353 shares in the company, valued at $173,845.44. This represents a 92.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,224 shares of company stock valued at $21,716,492. 0.70% of the stock is currently 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.