Eastover Investment Advisors LLC Acquires 8,844 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Eastover Investment Advisors LLC has increased its holdings in Intuitive Surgical, Inc. by 204.8%, acquiring 8,844 shares to own a total of 13,163 shares valued at approximately $7.15 million.
• Several institutional investors have made significant adjustments to their positions in Intuitive Surgical, including GAMMA Investing LLC, which increased its shares by 54,010.7% in the first quarter.
• Intuitive Surgical's stock has a market capitalization of $158.13 billion and has seen a 21.4% increase in revenue year-over-year, with a recent earnings report showing an EPS of $2.19, surpassing analysts' expectations.

Eastover Investment Advisors LLC grew its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 204.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,163 shares of the medical equipment provider's stock after purchasing an additional 8,844 shares during the period. Intuitive Surgical makes up about 3.2% of Eastover Investment Advisors LLC's holdings, making the stock its 16th biggest position. Eastover Investment Advisors LLC's holdings in Intuitive Surgical were worth $7,153,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ISRG. Nuveen LLC bought a new stake in shares of Intuitive Surgical in the first quarter valued at approximately $1,715,899,000. GAMMA Investing LLC increased its holdings in Intuitive Surgical by 54,010.7% during the 1st quarter. GAMMA Investing LLC now owns 3,028,576 shares of the medical equipment provider's stock worth $14,999,630,000 after acquiring an additional 3,022,979 shares during the period. Goldman Sachs Group Inc. increased its holdings in Intuitive Surgical by 26.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,819,666 shares of the medical equipment provider's stock worth $1,396,496,000 after acquiring an additional 584,375 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Intuitive Surgical by 20.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,393,951 shares of the medical equipment provider's stock worth $1,680,922,000 after acquiring an additional 566,979 shares during the period. Finally, Wellington Management Group LLP increased its holdings in 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. Institutional investors own 83.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ISRG shares. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Intuitive Surgical in a report on Friday, August 22nd. UBS Group upped their target price on shares of Intuitive Surgical from $547.00 to $585.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Zacks Research lowered shares of Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 20th. Piper Sandler reissued an "overweight" rating and issued a $595.00 price target (up previously from $575.00) on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. Finally, Wall Street Zen cut shares of Intuitive Surgical from a "buy" rating to a "hold" rating in a research note on Friday. Thirteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Intuitive Surgical has a consensus rating of "Moderate Buy" and an average target price of $595.95.

Intuitive Surgical Stock Performance

Shares of Intuitive Surgical stock opened at $441.12 on Friday. Intuitive Surgical, Inc. has a 52-week low of $425.00 and a 52-week high of $616.00. The stock has a market capitalization of $158.13 billion, a price-to-earnings ratio of 61.52, a price-to-earnings-growth ratio of 4.59 and a beta of 1.61. The company has a fifty day moving average of $469.43 and a 200-day moving average of $501.46.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts' expectations of $2.35 billion. During the same quarter in the prior year, the company earned $1.78 EPS. The firm's revenue was up 21.4% on a year-over-year basis. On average, equities research analysts forecast that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Myriam Curet sold 4,500 shares of the company's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $492.48, for a total value of $2,216,160.00. Following the completion of the sale, the executive vice president owned 353 shares of the company's stock, valued at approximately $173,845.44. This represents a 92.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Amy L. Ladd sold 335 shares of the company's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $440.69, for a total transaction of $147,631.15. Following the completion of the sale, the director directly owned 739 shares of the company's stock, valued at $325,669.91. This trade represents a 31.19% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,224 shares of company stock valued at $21,716,492. Corporate insiders own 0.70% of the company's stock.

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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