Intuitive Surgical, Inc. $ISRG Shares Acquired by ARK Investment Management LLC

Key Points

• ARK Investment Management increased its stake in Intuitive Surgical by 46.6% in Q3, adding 9,470 shares to hold 29,812 shares valued at about $13.33 million.
• Intuitive Surgical beat quarterly estimates with EPS of $2.53 and revenue of $2.87 billion, a year-over-year revenue increase of 18.8%, indicating strong recent operational performance.
• Analysts have a Moderate Buy consensus on ISRG with an average price target of about $615.86, while individual targets cited range roughly from $570 to $653.

ARK Investment Management LLC raised its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 46.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,812 shares of the medical equipment provider's stock after purchasing an additional 9,470 shares during the period. ARK Investment Management LLC's holdings in Intuitive Surgical were worth $13,333,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Brighton Jones LLC increased its position in Intuitive Surgical by 24.9% in the 4th quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider's stock valued at $1,916,000 after acquiring an additional 731 shares during the period. Sivia Capital Partners LLC grew its stake in shares of Intuitive Surgical by 3.8% in the second quarter. Sivia Capital Partners LLC now owns 928 shares of the medical equipment provider's stock worth $504,000 after purchasing an additional 34 shares in the last quarter. Schnieders Capital Management LLC. increased its holdings in shares of Intuitive Surgical by 38.0% during the second quarter. Schnieders Capital Management LLC. now owns 973 shares of the medical equipment provider's stock valued at $529,000 after purchasing an additional 268 shares during the period. Versor Investments LP bought a new stake in shares of Intuitive Surgical during the second quarter valued at about $325,000. Finally, Westside Investment Management Inc. lifted its holdings in Intuitive Surgical by 1,377.8% in the second quarter. Westside Investment Management Inc. now owns 133 shares of the medical equipment provider's stock worth $72,000 after purchasing an additional 124 shares during the period. Institutional investors and hedge funds own 83.64% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on ISRG. UBS Group set a $570.00 price target on shares of Intuitive Surgical and gave the stock a "neutral" rating in a research report on Tuesday, February 24th. Zacks Research upgraded shares of Intuitive Surgical from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 19th. BTIG Research restated a "buy" rating and issued a $616.00 target price on shares of Intuitive Surgical in a research report on Friday, January 23rd. Piper Sandler reaffirmed an "overweight" rating and set a $620.00 price target (up from $610.00) on shares of Intuitive Surgical in a research note on Friday, January 23rd. Finally, HSBC boosted their price objective on Intuitive Surgical from $644.00 to $653.00 and gave the stock a "buy" rating in a research note on Monday, January 26th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Intuitive Surgical currently has a consensus rating of "Moderate Buy" and an average price target of $615.86.

Insider Activity at Intuitive Surgical

In related news, SVP Patricia L. Wadors sold 220 shares of the firm's stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $499.71, for a total value of $109,936.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Fredrik Widman sold 133 shares of Intuitive Surgical stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $494.96, for a total transaction of $65,829.68. Following the transaction, the vice president owned 660 shares in the company, valued at approximately $326,673.60. The trade was a 16.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 33,603 shares of company stock valued at $17,875,660. Corporate insiders own 0.70% of the company's stock.

Intuitive Surgical Stock Performance

Shares of NASDAQ:ISRG opened at $501.18 on Thursday. The company has a market capitalization of $177.98 billion, a PE ratio of 63.52, a price-to-earnings-growth ratio of 3.83 and a beta of 1.66. The stock has a fifty day moving average of $525.02 and a 200-day moving average of $512.10. Intuitive Surgical, Inc. has a one year low of $425.00 and a one year high of $603.88.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its earnings results on Thursday, January 22nd. The medical equipment provider reported $2.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.27 by $0.26. Intuitive Surgical had a return on equity of 15.06% and a net margin of 28.38%.The company had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.72 billion. During the same period in the previous year, the firm earned $2.21 earnings per share. Intuitive Surgical's revenue for the quarter was up 18.8% compared to the same quarter last year. As a group, research analysts forecast that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

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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