Freemont Management S.A. Invests $2.83 Million in Intuitive Surgical, Inc. $ISRG

Key Points

• Freemont Management S.A. opened a new position in Intuitive Surgical during the fourth quarter, buying 5,000 shares valued at about $2.83 million.
• Intuitive Surgical reported strong quarterly earnings, posting $2.50 EPS versus $2.08 expected and revenue of $2.77 billion, up 23% year over year.
• Analysts remain generally positive despite some target cuts: the stock has a Moderate Buy consensus with an average price target of $581.91.

Freemont Management S.A. purchased a new position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,000 shares of the medical equipment provider's stock, valued at approximately $2,832,000.

Other institutional investors have also recently made changes to their positions in the company. Newbridge Financial Services Group Inc. increased its holdings in shares of Intuitive Surgical by 300.0% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider's stock worth $25,000 after buying an additional 33 shares during the last quarter. Holos Integrated Wealth LLC bought a new position in shares of Intuitive Surgical in the 4th quarter worth $25,000. Olistico Wealth LLC bought a new position in shares of Intuitive Surgical in the 4th quarter worth $28,000. Laurel Wealth Advisors LLC bought a new position in shares of Intuitive Surgical in the 4th quarter worth $31,000. Finally, Turning Point Benefit Group Inc. increased its holdings in shares of Intuitive Surgical by 833.3% in the 4th quarter. Turning Point Benefit Group Inc. now owns 56 shares of the medical equipment provider's stock worth $32,000 after buying an additional 50 shares during the last quarter. Institutional investors own 83.64% of the company's stock.

Insider Transactions at Intuitive Surgical

In other news, EVP Myriam Curet sold 105 shares of the firm's stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $493.95, for a total value of $51,864.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Mark Brosius sold 645 shares of the firm's stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $485.01, for a total transaction of $312,831.45. Following the completion of the sale, the senior vice president directly owned 1,613 shares of the company's stock, valued at approximately $782,321.13. This represents a 28.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 5,647 shares of company stock worth $2,760,359. 0.60% of the stock is owned by corporate insiders.

Intuitive Surgical Trading Up 0.1%

Shares of NASDAQ:ISRG opened at $432.27 on Thursday. The company has a market cap of $153.09 billion, a price-to-earnings ratio of 52.40, a price-to-earnings-growth ratio of 3.45 and a beta of 1.51. The company has a 50-day moving average price of $466.62 and a 200-day moving average price of $515.53. Intuitive Surgical, Inc. has a 12 month low of $417.74 and a 12 month high of $603.88.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 EPS for the quarter, topping the consensus estimate of $2.08 by $0.42. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The firm had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.62 billion. During the same period last year, the company posted $1.81 EPS. The company's quarterly revenue was up 23.0% compared to the same quarter last year. As a group, research analysts forecast that Intuitive Surgical, Inc. will post 8.57 EPS for the current fiscal year.

Analysts Set New Price Targets

ISRG has been the subject of a number of research reports. TD Cowen cut their price objective on shares of Intuitive Surgical from $660.00 to $585.00 and set a "buy" rating for the company in a research note on Wednesday, April 22nd. Mizuho set a $525.00 price objective on shares of Intuitive Surgical and gave the company a "neutral" rating in a research note on Monday, April 13th. BTIG Research reaffirmed a "buy" rating and issued a $574.00 price objective on shares of Intuitive Surgical in a research note on Wednesday, April 22nd. UBS Group cut their price objective on shares of Intuitive Surgical from $570.00 to $550.00 and set a "neutral" rating for the company in a research note on Tuesday, March 17th. Finally, Truist Financial cut their price objective on shares of Intuitive Surgical from $650.00 to $580.00 and set a "buy" rating for the company in a research note on Wednesday, April 15th. Eighteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Intuitive Surgical currently has an average rating of "Moderate Buy" and a consensus price target of $581.91.

Intuitive Surgical Company Profile

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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