Congress Asset Management Co. Grows Position in Intuitive Surgical, Inc. $ISRG

Congress Asset Management Co. grew its position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 0.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 315,555 shares of the medical equipment provider's stock after purchasing an additional 2,847 shares during the period. Intuitive Surgical makes up approximately 1.2% of Congress Asset Management Co.'s holdings, making the stock its 20th largest holding. Congress Asset Management Co. owned approximately 0.09% of Intuitive Surgical worth $171,476,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Intuitive Surgical by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 32,665,531 shares of the medical equipment provider's stock valued at $16,178,258,000 after acquiring an additional 453,335 shares during the period. Invesco Ltd. increased its holdings in Intuitive Surgical by 1.7% in the 1st quarter. Invesco Ltd. now owns 4,219,974 shares of the medical equipment provider's stock valued at $2,090,027,000 after purchasing an additional 71,794 shares in the last quarter. Northern Trust Corp boosted its position in shares of Intuitive Surgical by 0.3% in the first quarter. Northern Trust Corp now owns 3,631,281 shares of the medical equipment provider's stock worth $1,798,465,000 after buying an additional 11,988 shares during the period. Wellington Management Group LLP boosted its holdings in Intuitive Surgical by 15.0% in 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 acquired a new stake in Intuitive Surgical in the first quarter valued at approximately $1,715,899,000. Hedge funds and other institutional investors own 83.64% of the company's stock.

Insiders Place Their Bets

In other Intuitive Surgical news, Director Amy L. Ladd sold 335 shares of the firm's stock in a transaction on 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 in the company, valued at approximately $325,669.91. This trade represents a 31.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Gary S. Guthart sold 29,360 shares of the business's 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 transaction, the insider directly owned 19,827 shares of the company's stock, valued at approximately $9,368,059.23. This trade represents a 59.69% 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 three months. Company insiders own 0.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ISRG. Piper Sandler reiterated an "overweight" rating and set a $595.00 price objective (up previously from $575.00) on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. Erste Group Bank reiterated a "hold" rating on shares of Intuitive Surgical in a report on Wednesday, July 23rd. Wall Street Zen raised shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Evercore ISI lifted their target price on Intuitive Surgical from $470.00 to $550.00 and gave the stock an "in-line" rating in a research report on Tuesday, July 8th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Intuitive Surgical in a research note on Friday, August 22nd. Thirteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $595.95.

Intuitive Surgical Stock Performance

Shares of ISRG stock opened at $438.12 on Friday. The stock has a market capitalization of $157.06 billion, a price-to-earnings ratio of 61.10, a PEG ratio of 4.65 and a beta of 1.61. Intuitive Surgical, Inc. has a one year low of $425.00 and a one year high of $616.00. The company's 50-day simple moving average is $470.98 and its 200-day simple moving average is $501.82.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $2.35 billion. During the same period in the prior year, the company earned $1.78 earnings per share. The firm's revenue was up 21.4% compared to the same quarter last year. As a group, research analysts forecast that Intuitive Surgical, Inc. will post 6.43 EPS 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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