Intuitive Surgical, Inc. $ISRG Shares Bought by Dillon & Associates Inc.

Key Points

• Dillon & Associates Inc. increased its stake in Intuitive Surgical by 11.8% in Q4, adding 3,362 shares to bring its total holdings to 31,836 shares worth about $18.0 million.
• Institutional interest remains high, with hedge funds and other large investors owning 83.64% of the company’s stock. Several firms recently boosted their positions, even as some insiders sold shares.
• Wall Street is still largely bullish on ISRG: analysts rate it a Moderate Buy on average, with a consensus target price of $579.33, while the company also topped recent earnings expectations with revenue up 23% year over year.

Dillon & Associates Inc. raised its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 11.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,836 shares of the medical equipment provider's stock after acquiring an additional 3,362 shares during the period. Intuitive Surgical accounts for approximately 2.3% of Dillon & Associates Inc.'s portfolio, making the stock its 12th largest position. Dillon & Associates Inc.'s holdings in Intuitive Surgical were worth $18,019,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Draper Asset Management LLC boosted its stake in Intuitive Surgical by 41.9% in the fourth quarter. Draper Asset Management LLC now owns 5,029 shares of the medical equipment provider's stock valued at $2,848,000 after acquiring an additional 1,485 shares in the last quarter. Atlantic Union Bankshares Corp boosted its stake in Intuitive Surgical by 19.3% in the third quarter. Atlantic Union Bankshares Corp now owns 22,759 shares of the medical equipment provider's stock valued at $10,179,000 after acquiring an additional 3,676 shares in the last quarter. Valley Wealth Managers Inc. boosted its stake in Intuitive Surgical by 52.7% in the third quarter. Valley Wealth Managers Inc. now owns 4,084 shares of the medical equipment provider's stock valued at $1,826,000 after acquiring an additional 1,409 shares in the last quarter. AGF Management Ltd. boosted its stake in Intuitive Surgical by 0.6% in the third quarter. AGF Management Ltd. now owns 464,179 shares of the medical equipment provider's stock valued at $207,595,000 after acquiring an additional 2,575 shares in the last quarter. Finally, AE Wealth Management LLC boosted its stake in Intuitive Surgical by 18.9% in the third quarter. AE Wealth Management LLC now owns 11,556 shares of the medical equipment provider's stock valued at $5,168,000 after acquiring an additional 1,836 shares in the last quarter. Institutional investors and hedge funds own 83.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ISRG shares. Wall Street Zen downgraded shares of Intuitive Surgical from a "buy" rating to a "hold" rating in a research note on Sunday. Bank of America reduced their target price on shares of Intuitive Surgical from $650.00 to $520.00 and set a "buy" rating for the company in a report on Monday, May 18th. Truist Financial reduced their target price on shares of Intuitive Surgical from $650.00 to $580.00 and set a "buy" rating for the company in a report on Wednesday, April 15th. Robert W. Baird upped their target price on shares of Intuitive Surgical from $575.00 to $610.00 and gave the company an "outperform" rating in a report on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. reduced their target price on shares of Intuitive Surgical from $625.00 to $550.00 and set an "overweight" rating for the company in a report on Wednesday, April 22nd. Nineteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $579.33.

Insider Activity

In related news, SVP Mark Brosius sold 2,362 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $498.68, for a total transaction of $1,177,882.16. Following the completion of the transaction, the senior vice president directly owned 3,554 shares of the company's stock, valued at $1,772,308.72. This represents a 39.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Myriam Curet sold 105 shares of the stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $493.95, for a total transaction of $51,864.75. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 5,701 shares of company stock valued at $2,783,807 over the last ninety days. 0.60% of the stock is currently owned by company insiders.

Intuitive Surgical Stock Performance

Shares of NASDAQ:ISRG opened at $438.10 on Tuesday. The company has a 50-day simple moving average of $457.79 and a 200-day simple moving average of $509.66. Intuitive Surgical, Inc. has a one year low of $417.74 and a one year high of $603.88. The stock has a market capitalization of $155.16 billion, a price-to-earnings ratio of 53.10, a PEG ratio of 3.50 and a beta of 1.51.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 EPS for the quarter, beating analysts' consensus estimates of $2.08 by $0.42. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The business had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.62 billion. During the same period in the prior year, the company earned $1.81 earnings per share. The business's 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.

About Intuitive Surgical

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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