Fjarde AP Fonden Fourth Swedish National Pension Fund Increases Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Key Points

• The Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in Intuitive Surgical, Inc. by 5.6%, owning 71,779 shares worth approximately $35.55 million after purchasing an additional 3,800 shares.
• Intuitive Surgical reported earnings of $2.19 EPS in the most recent quarter, exceeding analyst expectations and marking a 21.4% year-over-year revenue increase.
• Analysts have mixed ratings for Intuitive Surgical, with a consensus rating of "Moderate Buy" and an average price target of $595.95, despite some price target reductions from firms like Barclays and Robert W. Baird.

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 5.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71,779 shares of the medical equipment provider's stock after buying an additional 3,800 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Intuitive Surgical were worth $35,550,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Parvin Asset Management LLC purchased a new position in shares of Intuitive Surgical in the fourth quarter worth $26,000. Chilton Capital Management LLC raised its stake in shares of Intuitive Surgical by 614.3% in the first quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock worth $25,000 after purchasing an additional 43 shares during the last quarter. Global Financial Private Client LLC increased its position in Intuitive Surgical by 253.3% during the first quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider's stock valued at $26,000 after acquiring an additional 38 shares during the last quarter. Elite Financial Inc. purchased a new stake in Intuitive Surgical during the first quarter valued at $26,000. Finally, LFA Lugano Financial Advisors SA purchased a new stake in Intuitive Surgical during the first quarter valued at $30,000. Hedge funds and other institutional investors own 83.64% of the company's stock.

Insider Activity

In other 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 value of $121,631.76. Following the completion of the sale, the senior vice president directly owned 907 shares of the company's stock, valued at $510,740.77. This trade represents a 19.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gary S. Guthart sold 2,800 shares of the 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 completion of the sale, the insider owned 18,520 shares in the company, valued at approximately $9,171,844.80. The trade was a 13.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,859 shares of company stock valued at $7,908,248 in the last ninety days. Insiders own 0.70% of the company's stock.

Intuitive Surgical Trading Up 0.9%

Shares of Intuitive Surgical stock opened at $482.35 on Thursday. The stock has a 50 day moving average of $511.91 and a 200 day moving average of $526.80. Intuitive Surgical, Inc. has a 12 month low of $425.00 and a 12 month high of $616.00. The firm has a market cap of $172.91 billion, a PE ratio of 67.27, a PEG ratio of 5.01 and a beta of 1.59.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.26. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.35 billion. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%. The company's revenue for the quarter was up 21.4% on a year-over-year basis. During the same period last year, the company earned $1.78 EPS. As a group, equities research analysts forecast that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on ISRG shares. Evercore ISI upped their price objective on Intuitive Surgical from $470.00 to $550.00 and gave the company an "in-line" rating in a research report on Tuesday, July 8th. BTIG Research upped their price objective on Intuitive Surgical from $566.00 to $571.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Erste Group Bank reiterated a "hold" rating on shares of Intuitive Surgical in a research report on Wednesday, July 23rd. Barclays cut their price target on Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Finally, Robert W. Baird cut their price target on Intuitive Surgical from $600.00 to $575.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $595.95.

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.

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