ING Groep NV Increases Stock Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Key Points

• ING Groep NV significantly increased its stake in Intuitive Surgical, Inc. by 79.8%, acquiring an additional 43,248 shares, bringing its total holdings to 97,442 shares valued at approximately $48.26 million.
• In recent insider transactions, SVP Mark Brosius and insider Gary S. Guthart sold shares, with total insider sales amounting to $7.93 million in the past 90 days.
• Analysts have varied ratings for ISRG, with 14 buy ratings and an average price target of $595.95, indicating strong market interest despite fluctuations in individual price targets.

ING Groep NV lifted its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 79.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 97,442 shares of the medical equipment provider's stock after acquiring an additional 43,248 shares during the quarter. ING Groep NV's holdings in Intuitive Surgical were worth $48,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hurley Capital LLC acquired a new stake in Intuitive Surgical in the fourth quarter worth $28,000. Parvin Asset Management LLC bought a new position in shares of Intuitive Surgical during the 4th quarter worth about $26,000. Chilton Capital Management LLC grew its stake in shares of Intuitive Surgical by 614.3% in the 1st quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock valued at $25,000 after buying an additional 43 shares during the period. Global Financial Private Client LLC increased its position in Intuitive Surgical by 253.3% in the 1st quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider's stock valued at $26,000 after buying an additional 38 shares in the last quarter. Finally, Elite Financial Inc. acquired a new position in Intuitive Surgical during the 1st quarter worth approximately $26,000. 83.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Robert W. Baird reduced their price objective on Intuitive Surgical from $600.00 to $575.00 and set an "outperform" rating for the company in a research note on Wednesday, April 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. Wells Fargo & Company upped their price objective on shares of Intuitive Surgical from $559.00 to $599.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Truist Financial lifted their price objective on shares of Intuitive Surgical from $590.00 to $600.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, Evercore ISI upped their target price on shares of Intuitive Surgical from $470.00 to $550.00 and gave the stock an "in-line" rating in a report on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Intuitive Surgical has a consensus rating of "Moderate Buy" and an average price target of $595.95.

Insiders Place Their Bets

In related news, SVP Mark Brosius sold 216 shares of the company's 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 in the company, valued at approximately $510,740.77. This represents a 19.23% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Myriam Curet sold 4,500 shares of Intuitive Surgical stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $492.48, for a total transaction of $2,216,160.00. Following the completion of the transaction, the executive vice president owned 353 shares of the company's stock, valued at $173,845.44. This represents a 92.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,903 shares of company stock valued at $7,932,778 over the last ninety days. 0.70% of the stock is currently owned by insiders.

Intuitive Surgical Price Performance

Shares of Intuitive Surgical stock traded up $0.36 during trading hours on Friday, hitting $470.17. 763,504 shares of the company's stock traded hands, compared to its average volume of 2,003,706. The company has a fifty day simple moving average of $518.14 and a 200-day simple moving average of $530.28. The stock has a market capitalization of $168.55 billion, a price-to-earnings ratio of 65.53, a PEG ratio of 4.97 and a beta of 1.59. Intuitive Surgical, Inc. has a 12-month low of $425.00 and a 12-month 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 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 firm had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.35 billion. During the same period in the previous year, the company earned $1.78 earnings per share. The company's quarterly revenue was up 21.4% on a year-over-year basis. On average, analysts forecast that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

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.