NorthCrest Asset Manangement LLC Boosts Stock Position in Intuitive Surgical, Inc. $ISRG

Key Points

• NorthCrest Asset Management LLC increased its holdings in Intuitive Surgical by 12.2% in the second quarter, now owning approximately $11.9 million worth of shares.
• Institutional investors control 83.64% of Intuitive Surgical's stock, with several hedge funds significantly increasing their positions during the first quarter.
• Intuitive Surgical reported better-than-expected earnings of $2.19 per share for the last quarter, outperforming analysts' estimates of $1.93 per share.

NorthCrest Asset Manangement LLC raised its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 12.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,906 shares of the medical equipment provider's stock after purchasing an additional 2,376 shares during the period. NorthCrest Asset Manangement LLC's holdings in Intuitive Surgical were worth $11,927,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Intuitive Surgical by 1.4% in the first quarter. Vanguard Group Inc. now owns 32,665,531 shares of the medical equipment provider's stock valued at $16,178,258,000 after buying an additional 453,335 shares in the last quarter. Invesco Ltd. increased its stake in shares of Intuitive Surgical by 1.7% in the first quarter. Invesco Ltd. now owns 4,219,974 shares of the medical equipment provider's stock valued at $2,090,027,000 after buying an additional 71,794 shares in the last quarter. Northern Trust Corp increased its stake in shares of Intuitive Surgical by 0.3% in the first quarter. Northern Trust Corp now owns 3,631,281 shares of the medical equipment provider's stock valued at $1,798,465,000 after buying an additional 11,988 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Intuitive Surgical by 15.0% in the first quarter. Wellington Management Group LLP now owns 3,499,052 shares of the medical equipment provider's stock valued at $1,732,975,000 after buying an additional 457,080 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Intuitive Surgical in the first quarter valued at $1,715,899,000. 83.64% of the stock is owned by institutional investors.

Insider Activity

In other Intuitive Surgical news, EVP Myriam Curet sold 4,500 shares of the company's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $492.48, for a total value of $2,216,160.00. Following the transaction, the executive vice president directly owned 353 shares in the company, valued at $173,845.44. This represents a 92.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gary S. Guthart sold 29,360 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $472.49, for a total transaction of $13,872,306.40. Following the completion of the sale, the insider directly owned 19,827 shares in the company, valued at $9,368,059.23. This represents a 59.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,224 shares of company stock worth $21,716,492. 0.70% of the stock is owned by corporate insiders.

Intuitive Surgical Stock Up 1.1%

Intuitive Surgical stock traded up $4.99 during mid-day trading on Monday, reaching $443.71. 1,042,310 shares of the company's stock were exchanged, compared to its average volume of 2,040,003. The business's fifty day simple moving average is $476.64 and its 200 day simple moving average is $503.43. The firm has a market capitalization of $159.06 billion, a PE ratio of 61.87, a P/E/G ratio of 4.60 and a beta of 1.61. Intuitive Surgical, Inc. has a one year low of $425.00 and a one year high of $616.00.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the company posted $1.78 earnings per share. Intuitive Surgical's quarterly revenue was up 21.4% compared to the same quarter last year. On average, sell-side analysts forecast that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wall Street Zen upgraded Intuitive Surgical from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Piper Sandler restated an "overweight" rating and set a $595.00 target price (up previously from $575.00) on shares of Intuitive Surgical in a report on Wednesday, July 23rd. Wells Fargo & Company raised their target price on Intuitive Surgical from $559.00 to $599.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Erste Group Bank restated a "hold" rating on shares of Intuitive Surgical in a report on Wednesday, July 23rd. Finally, Truist Financial raised their target price on Intuitive Surgical from $590.00 to $600.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Thirteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $595.95.

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.