Intuitive Surgical, Inc. $ISRG Shares Acquired by Cim LLC

Key Points

• Cim LLC increased its stake in Intuitive Surgical by 30.5%, acquiring a total of 39,911 shares valued at approximately $19.77 million, making the company its 12th largest position.
• Institutional investors own 83.64% of Intuitive Surgical's stock, with several firms, including Bank Pictet & Cie Europe AG and ProShare Advisors LLC, significantly boosting their holdings during the last quarter.
• Analysts generally view Intuitive Surgical positively, with a current average rating of "Moderate Buy" and a price target of $595.95, following recent upgrades from firms like Citigroup and Piper Sandler.

Cim LLC boosted its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 30.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,911 shares of the medical equipment provider's stock after purchasing an additional 9,334 shares during the quarter. Intuitive Surgical makes up approximately 2.9% of Cim LLC's holdings, making the stock its 12th largest position. Cim LLC's holdings in Intuitive Surgical were worth $19,767,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ISRG. Brighton Jones LLC boosted its position in Intuitive Surgical by 24.9% during the 4th quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider's stock valued at $1,916,000 after purchasing an additional 731 shares during the period. Bank Pictet & Cie Europe AG boosted its position in Intuitive Surgical by 0.5% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 190,969 shares of the medical equipment provider's stock valued at $99,678,000 after purchasing an additional 883 shares during the period. Nomura Holdings Inc. boosted its position in Intuitive Surgical by 2.6% during the 4th quarter. Nomura Holdings Inc. now owns 37,541 shares of the medical equipment provider's stock valued at $19,595,000 after purchasing an additional 936 shares during the period. ProShare Advisors LLC boosted its position in Intuitive Surgical by 20.4% during the 4th quarter. ProShare Advisors LLC now owns 460,247 shares of the medical equipment provider's stock valued at $240,231,000 after purchasing an additional 77,926 shares during the period. Finally, Point72 Hong Kong Ltd boosted its position in Intuitive Surgical by 114.9% during the 4th quarter. Point72 Hong Kong Ltd now owns 19,230 shares of the medical equipment provider's stock valued at $10,037,000 after purchasing an additional 10,280 shares during the period. Institutional investors and hedge funds own 83.64% of the company's stock.

Analyst Ratings Changes

ISRG has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Intuitive Surgical in a research report on Friday, August 22nd. Erste Group Bank reaffirmed a "hold" rating on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. UBS Group lifted their target price on Intuitive Surgical from $547.00 to $585.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Citigroup reaffirmed a "buy" rating and set a $650.00 target price (up previously from $590.00) on shares of Intuitive Surgical in a research note on Thursday, May 22nd. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $595.00 target price (up previously from $575.00) on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. Thirteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $595.95.

Intuitive Surgical Stock Performance

ISRG opened at $455.85 on Friday. Intuitive Surgical, Inc. has a one year low of $425.00 and a one year high of $616.00. The stock's fifty day moving average is $487.55 and its 200-day moving average is $509.57. The company has a market capitalization of $163.41 billion, a PE ratio of 63.58, a P/E/G ratio of 4.72 and a beta of 1.61.

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

Insider Transactions at Intuitive Surgical

In other news, Director Amy L. Ladd sold 335 shares of the business's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $440.69, for a total transaction of $147,631.15. Following the sale, the director directly owned 739 shares of the company's stock, valued at $325,669.91. The trade was a 31.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gary S. Guthart sold 29,360 shares of the business's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $472.49, for a total value of $13,872,306.40. Following the sale, the insider directly owned 19,827 shares in the company, valued at $9,368,059.23. This trade represents a 59.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,224 shares of company stock valued at $21,716,492. Corporate insiders own 0.70% of the company's stock.

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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