Intuitive Surgical, Inc. $ISRG Stock: Greenfield Seitz Capital Management LLC Raises Position

Key Points

• Greenfield Seitz Capital Management increased its Intuitive Surgical stake by 56.1% in the third quarter, bringing its holdings to 22,096 shares worth approximately $8.99 million. Institutional investors collectively own 83.64% of ISRG.
• Intuitive Surgical reported strong quarterly results, with revenue rising 21.7% year over year to $3.05 billion and earnings of $3.00 per share, exceeding analysts’ $2.65 estimate.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $493.54, despite some firms recently lowering their targets.

Greenfield Seitz Capital Management LLC lifted its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 56.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,096 shares of the medical equipment provider's stock after acquiring an additional 7,945 shares during the period. Intuitive Surgical accounts for approximately 2.6% of Greenfield Seitz Capital Management LLC's portfolio, making the stock its 9th biggest holding. Greenfield Seitz Capital Management LLC's holdings in Intuitive Surgical were worth $8,985,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ISRG. Bank of New York Mellon Corp purchased a new position in Intuitive Surgical in the 2nd quarter valued at about $1,335,753,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Intuitive Surgical by 95.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,105,544 shares of the medical equipment provider's stock worth $970,635,000 after purchasing an additional 1,027,475 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Intuitive Surgical by 55.8% during the third quarter. Assenagon Asset Management S.A. now owns 1,557,940 shares of the medical equipment provider's stock worth $633,505,000 after buying an additional 558,099 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Intuitive Surgical during the third quarter worth about $136,743,000. Finally, Amundi raised its position in shares of Intuitive Surgical by 8.6% in the first quarter. Amundi now owns 2,428,356 shares of the medical equipment provider's stock valued at $1,119,448,000 after buying an additional 193,096 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company's stock.

Intuitive Surgical Price Performance

ISRG opened at $436.87 on Tuesday. The stock has a market capitalization of $151.44 billion, a price-to-earnings ratio of 52.83, a price-to-earnings-growth ratio of 3.06 and a beta of 1.46. The business has a 50-day moving average of $402.70 and a two-hundred day moving average of $433.43. Intuitive Surgical, Inc. has a 12 month low of $328.57 and a 12 month high of $603.88.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its quarterly earnings data on Tuesday, October 20th. The medical equipment provider reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.65 by $0.35. Intuitive Surgical had a net margin of 25.54% and a return on equity of 18.17%. The business had revenue of $3.05 billion for the quarter, compared to analyst estimates of $2.91 billion. During the same period in the prior year, the firm posted $2.40 EPS. The company's revenue was up 21.7% on a year-over-year basis. Equities research analysts anticipate that Intuitive Surgical, Inc. will post 9.37 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on ISRG shares. Royal Bank Of Canada reduced their price objective on shares of Intuitive Surgical from $575.00 to $550.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 21st. UBS Group restated a "buy" rating on shares of Intuitive Surgical in a research report on Tuesday, October 13th. Citigroup lowered their target price on shares of Intuitive Surgical from $590.00 to $500.00 and set a "buy" rating for the company in a research note on Friday, July 17th. Oppenheimer reiterated an "outperform" rating and issued a $500.00 price target on shares of Intuitive Surgical in a report on Wednesday, October 21st. Finally, Piper Sandler reiterated an "overweight" rating on shares of Intuitive Surgical in a report on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Intuitive Surgical currently has a consensus rating of "Moderate Buy" and an average target price of $493.54.

Insider Transactions at Intuitive Surgical

In related news, EVP Mark Brosius sold 61 shares of the company's stock in a transaction that occurred on Wednesday, October 28th. The shares were sold at an average price of $441.60, for a total transaction of $26,937.60. Following the completion of the transaction, the executive vice president owned 581 shares of the company's stock, valued at approximately $256,569.60. This represents a 9.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Craig Barratt sold 1,150 shares of the stock in a transaction that occurred on Friday, October 23rd. The stock was sold at an average price of $443.80, for a total transaction of $510,370.00. Following the transaction, the director directly owned 1,150 shares in the company, valued at approximately $510,370. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 38,778 shares of company stock valued at $16,814,967 in the last quarter. Insiders own 0.60% of the company's stock.

Intuitive Surgical Profile

Intuitive Surgical, Inc develops and manufactures robotic-assisted systems and related technologies for minimally invasive surgery. Its products are designed to help surgeons perform procedures through small incisions while providing enhanced visualization, precision and control. The company's primary platform is the da Vinci Surgical System, which is used across a range of specialties, including urology, gynecology, general surgery, cardiothoracic surgery and other procedures.

The company also offers the Ion endoluminal system, which is designed to support minimally invasive lung biopsy procedures.

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