E Fund Management Co. Ltd. Purchases 5,620 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Key Points

• E Fund Management Co. Ltd. increased its stake in Intuitive Surgical, Inc. by 64.6% in the first quarter, owning 14,318 shares valued at approximately $7.1 million.
• Insider transactions included significant sales by executives, with SVP Mark Brosius selling 216 shares and CEO Gary S. Guthart selling 2,800 shares, indicating a decrease in insider ownership.
• Analysts have raised their ratings on Intuitive Surgical, with the average target price now $595.95, indicating a consensus of a Moderate Buy from multiple brokerages.

E Fund Management Co. Ltd. increased its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 64.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,318 shares of the medical equipment provider's stock after acquiring an additional 5,620 shares during the quarter. E Fund Management Co. Ltd.'s holdings in Intuitive Surgical were worth $7,091,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ISRG. Vanguard Group Inc. grew its holdings in 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 buying an additional 453,335 shares in the last quarter. Invesco Ltd. grew 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 buying an additional 71,794 shares in the last quarter. Northern Trust Corp grew its holdings in Intuitive Surgical by 15.8% in the 4th quarter. Northern Trust Corp now owns 3,619,293 shares of the medical equipment provider's stock valued at $1,889,126,000 after buying an additional 494,496 shares in the last quarter. Nuveen LLC acquired a new position in Intuitive Surgical in the 1st quarter valued at $1,715,899,000. Finally, Capital Research Global Investors grew its holdings in Intuitive Surgical by 25.5% in the 4th quarter. Capital Research Global Investors now owns 3,381,302 shares of the medical equipment provider's stock valued at $1,764,904,000 after buying an additional 687,906 shares in the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on ISRG shares. BTIG Research increased their target price on Intuitive Surgical from $566.00 to $571.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Wells Fargo & Company increased their target price on Intuitive Surgical from $559.00 to $599.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Piper Sandler reissued an "overweight" rating and set a $595.00 target price (up 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. Finally, Citigroup reissued a "buy" rating and set a $650.00 target price (up from $590.00) on shares of Intuitive Surgical in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $595.95.

Insider Buying and Selling

In related news, SVP Mark Brosius sold 216 shares of the firm'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 transaction of $121,631.76. Following the completion of the sale, the senior vice president owned 907 shares of the company's stock, valued at $510,740.77. This trade represents a 19.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Gary S. Guthart sold 2,800 shares of the firm'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 value 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 disclosure for this sale can be found here. Insiders sold 15,839 shares of company stock valued at $7,896,972 over the last 90 days. Company insiders own 0.70% of the company's stock.

Intuitive Surgical Stock Up 0.7%

Intuitive Surgical stock traded up $3.18 during trading hours on Friday, hitting $480.26. The stock had a trading volume of 1,436,064 shares, compared to its average volume of 2,192,612. Intuitive Surgical, Inc. has a one year low of $425.00 and a one year high of $616.00. The stock has a market cap of $172.16 billion, a price-to-earnings ratio of 66.98, a P/E/G ratio of 5.00 and a beta of 1.59. The business's 50 day simple moving average is $510.29 and its 200-day simple moving average is $526.13.

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 analysts' consensus estimates of $1.93 by $0.26. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same period last year, the company earned $1.78 earnings per share. The firm's revenue was up 21.4% compared to the same quarter last year. Research analysts anticipate that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

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.