Intuitive Surgical, Inc. $ISRG Shares Bought by Employees Retirement System of Texas

Key Points

• Employees Retirement System of Texas sharply increased its stake in Intuitive Surgical by 558.9% in the fourth quarter, ending with 76,841 shares valued at about $43.5 million.
• Intuitive Surgical reported strong quarterly results, with EPS of $2.50 and revenue of $2.77 billion, both ahead of analyst estimates. Revenue rose 23% year over year.
• Despite some recent insider selling, Wall Street remains broadly positive on the stock, with an average rating of “Moderate Buy” and an average price target of $579.33.

Employees Retirement System of Texas boosted its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 558.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 76,841 shares of the medical equipment provider's stock after acquiring an additional 65,179 shares during the quarter. Employees Retirement System of Texas' holdings in Intuitive Surgical were worth $43,520,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. increased its stake in Intuitive Surgical by 300.0% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider's stock worth $25,000 after acquiring an additional 33 shares during the last quarter. Holos Integrated Wealth LLC acquired a new stake in Intuitive Surgical during the fourth quarter worth $25,000. Olistico Wealth LLC acquired a new stake in Intuitive Surgical during the fourth quarter worth $28,000. Laurel Wealth Advisors LLC acquired a new stake in Intuitive Surgical during the fourth quarter worth $31,000. Finally, Turning Point Benefit Group Inc. increased its stake in Intuitive Surgical by 833.3% during the fourth quarter. Turning Point Benefit Group Inc. now owns 56 shares of the medical equipment provider's stock worth $32,000 after acquiring an additional 50 shares during the last quarter. Institutional investors and hedge funds own 83.64% of the company's stock.

Insider Transactions at Intuitive Surgical

In related news, SVP Patricia L. Wadors sold 220 shares of Intuitive Surgical stock in a transaction on Friday, February 27th. The stock was 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 available through the SEC website. Also, EVP Myriam Curet sold 105 shares of Intuitive Surgical stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $493.95, for a total value of $51,864.75. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 5,701 shares of company stock valued at $2,783,807 in the last 90 days. Insiders own 0.60% of the company's stock.

Intuitive Surgical Stock Down 0.3%

ISRG opened at $436.64 on Wednesday. The firm has a market cap of $154.64 billion, a P/E ratio of 52.93, a P/E/G ratio of 3.50 and a beta of 1.51. The business has a fifty day simple moving average of $457.08 and a 200-day simple moving average of $508.88. Intuitive Surgical, Inc. has a 52 week low of $417.74 and a 52 week high of $603.88.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.08 by $0.42. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.62 billion. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.Intuitive Surgical's revenue was up 23.0% compared to the same quarter last year. During the same period last year, the business posted $1.81 earnings per share. Sell-side analysts expect that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Zacks Research lowered Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 30th. Barclays set a $651.00 price target on Intuitive Surgical and gave the stock an "overweight" rating in a research report on Thursday, April 23rd. UBS Group lowered their price target on Intuitive Surgical from $570.00 to $550.00 and set a "neutral" rating for the company in a research report on Tuesday, March 17th. Wall Street Zen lowered Intuitive Surgical from a "buy" rating to a "hold" rating in a research report on Sunday. Finally, Citigroup upgraded Intuitive Surgical from a "neutral" rating to a "buy" rating and set a $590.00 price target for the company in a research report on Wednesday, March 11th. Nineteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $579.33.

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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