Goldman Sachs Group Inc. Purchases 584,375 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Key Points

• Goldman Sachs Group Inc. increased its stake in Intuitive Surgical by 26.1%, acquiring an additional 584,375 shares, bringing its total holdings to approximately $1.4 billion.
• Institutional investors now own 83.64% of Intuitive Surgical's stock, indicating strong institutional support.
• Multiple analysts have raised their price targets for Intuitive Surgical, with the average target now around $595.95, reflecting a consensus rating of "Moderate Buy."

Goldman Sachs Group Inc. boosted its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 26.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,819,666 shares of the medical equipment provider's stock after buying an additional 584,375 shares during the period. Goldman Sachs Group Inc. owned approximately 0.79% of Intuitive Surgical worth $1,396,496,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Castleark Management LLC increased its holdings in shares of Intuitive Surgical by 3.4% in the fourth quarter. Castleark Management LLC now owns 90,469 shares of the medical equipment provider's stock worth $47,221,000 after purchasing an additional 2,990 shares during the last quarter. Arlington Trust Co LLC boosted its holdings in shares of Intuitive Surgical by 34.5% in the first quarter. Arlington Trust Co LLC now owns 745 shares of the medical equipment provider's stock valued at $369,000 after purchasing an additional 191 shares during the period. Aaron Wealth Advisors LLC lifted its holdings in Intuitive Surgical by 3.2% during the first quarter. Aaron Wealth Advisors LLC now owns 2,509 shares of the medical equipment provider's stock worth $1,243,000 after buying an additional 78 shares during the period. Longbow Finance SA increased its position in shares of Intuitive Surgical by 132.0% during the first quarter. Longbow Finance SA now owns 19,699 shares of the medical equipment provider's stock worth $9,756,000 after purchasing an additional 11,209 shares in the last quarter. Finally, Ewing Morris & Co. Investment Partners Ltd. acquired a new position in shares of Intuitive Surgical in the 4th quarter valued at $454,000. Institutional investors own 83.64% of the company's stock.

Insider Activity

In related news, insider Gary S. Guthart sold 2,800 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $495.24, for a total value of $1,386,672.00. Following the completion of the transaction, the insider owned 18,520 shares in the company, valued at $9,171,844.80. This trade represents a 13.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mark Brosius sold 216 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $563.11, for a total transaction of $121,631.76. Following the sale, the senior vice president directly owned 907 shares of the company's stock, valued at $510,740.77. This represents a 19.23% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,903 shares of company stock valued at $7,932,778. 0.70% of the stock is owned by company insiders.

Intuitive Surgical Stock Performance

Shares of ISRG stock opened at $477.00 on Wednesday. The company has a market capitalization of $170.99 billion, a P/E ratio of 66.53, a price-to-earnings-growth ratio of 5.07 and a beta of 1.59. The company's 50 day moving average price is $521.43 and its two-hundred day moving average price is $531.52. Intuitive Surgical, Inc. has a 52 week low of $425.00 and a 52 week high of $616.00.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ISRG shares. Wells Fargo & Company increased their target price on shares of Intuitive Surgical from $559.00 to $599.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Citigroup reissued a "buy" rating and issued a $650.00 price target (up previously from $590.00) on shares of Intuitive Surgical in a research report on Thursday, May 22nd. Royal Bank Of Canada lifted their price objective on shares of Intuitive Surgical from $605.00 to $615.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Truist Financial boosted their price target on shares of Intuitive Surgical from $590.00 to $600.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Finally, Piper Sandler reissued an "overweight" rating and issued a $595.00 price target (up from $575.00) on shares of Intuitive Surgical in a research report on Wednesday, July 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 stock. Based on data from MarketBeat, Intuitive Surgical currently has an average rating of "Moderate Buy" and an average target price of $595.95.

Intuitive Surgical Company 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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