Elk River Wealth Management LLC Invests $4.50 Million in Intuitive Surgical, Inc. $ISRG

Key Points

• Elk River Wealth Management opened a new position in Intuitive Surgical during the first quarter, buying 9,752 shares valued at about $4.5 million.
• Institutional ownership remains heavy, with major firms like State Street, Capital World Investors, Norges Bank, and Invesco also increasing or holding large stakes; overall, 83.64% of the stock is owned by institutions.
• Analysts are generally bullish: the stock has a Moderate Buy consensus with an average price target of $573.42, while the company recently beat quarterly earnings and revenue estimates with 23% year-over-year revenue growth.

Elk River Wealth Management LLC purchased a new stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,752 shares of the medical equipment provider's stock, valued at approximately $4,496,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp boosted its position in shares of Intuitive Surgical by 1.0% during the fourth quarter. State Street Corp now owns 15,701,591 shares of the medical equipment provider's stock valued at $8,892,753,000 after buying an additional 162,264 shares during the last quarter. Capital World Investors lifted its stake in Intuitive Surgical by 1.7% during the 4th quarter. Capital World Investors now owns 7,856,018 shares of the medical equipment provider's stock valued at $4,449,491,000 after acquiring an additional 127,526 shares during the period. Norges Bank purchased a new stake in shares of Intuitive Surgical during the 4th quarter valued at about $2,856,987,000. Invesco Ltd. grew its stake in shares of Intuitive Surgical by 17.4% in the fourth quarter. Invesco Ltd. now owns 4,128,735 shares of the medical equipment provider's stock worth $2,338,350,000 after acquiring an additional 611,268 shares during the period. Finally, Fisher Asset Management LLC increased its stake in shares of Intuitive Surgical by 1.1% in the 3rd quarter. Fisher Asset Management LLC now owns 3,889,439 shares of the medical equipment provider's stock worth $1,739,475,000 after purchasing an additional 40,702 shares in the last quarter. 83.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ISRG. Mizuho set a $525.00 target price on Intuitive Surgical and gave the stock a "neutral" rating in a research note on Monday, April 13th. Piper Sandler restated an "overweight" rating and set a $580.00 target price on shares of Intuitive Surgical in a research report on Tuesday, June 2nd. Citigroup raised Intuitive Surgical from a "neutral" rating to a "buy" rating and set a $590.00 price objective on the stock in a report on Wednesday, March 11th. The Goldman Sachs Group set a $558.00 target price on Intuitive Surgical in a report on Wednesday, May 27th. Finally, Evercore decreased their target price on Intuitive Surgical from $550.00 to $480.00 and set a "neutral" rating on the stock in a research report on Monday, April 6th. Nineteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $573.42.

Insider Activity at Intuitive Surgical

In other Intuitive Surgical news, Director Amy L. Ladd sold 119 shares of the company's stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $463.50, for a total transaction of $55,156.50. Following the transaction, the director directly owned 120 shares in the company, valued at $55,620. This represents a 49.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of the business's stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $424.14, for a total value of $169,656.00. Following the completion of the sale, the executive vice president owned 5,720 shares in the company, valued at $2,426,080.80. This represents a 6.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 7,169 shares of company stock worth $3,059,135. Company insiders own 0.60% of the company's stock.

Intuitive Surgical Price Performance

ISRG opened at $402.95 on Tuesday. The company's 50 day simple moving average is $437.39 and its two-hundred day simple moving average is $488.76. The firm has a market capitalization of $142.71 billion, a price-to-earnings ratio of 48.84, a price-to-earnings-growth ratio of 3.31 and a beta of 1.46. Intuitive Surgical, Inc. has a 1-year low of $396.68 and a 1-year high of $603.88.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.08 by $0.42. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.62 billion. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. Intuitive Surgical's quarterly revenue was up 23.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.81 earnings per share. On average, equities analysts anticipate that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current fiscal year.

About Intuitive Surgical

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon's hand movements into finer, scaled motions of small instruments inside the patient. Intuitive's business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.

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