Intuitive Surgical, Inc. $ISRG Stock Position Lifted by Bank Julius Baer & Co. Ltd Zurich

Key Points

• Bank Julius Baer increased its Intuitive Surgical stake by 1.5% in the third quarter, bringing its holdings to 701,589 shares valued at approximately $285.5 million. Institutional investors collectively own 83.64% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $493.54, although several firms recently adjusted their targets.
• Intuitive Surgical reported stronger-than-expected quarterly results, with $3.00 in earnings per share and $3.05 billion in revenue, representing 21.7% year-over-year revenue growth.

Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 1.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 701,589 shares of the medical equipment provider's stock after purchasing an additional 10,170 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich owned 0.20% of Intuitive Surgical worth $285,499,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Greenleaf Trust increased its holdings in shares of Intuitive Surgical by 4.9% in the third quarter. Greenleaf Trust now owns 8,737 shares of the medical equipment provider's stock valued at $3,553,000 after purchasing an additional 408 shares during the period. Nippon Life Global Investors Americas Inc. grew its stake in shares of Intuitive Surgical by 20.8% during the 3rd quarter. Nippon Life Global Investors Americas Inc. now owns 4,120 shares of the medical equipment provider's stock worth $1,675,000 after purchasing an additional 710 shares during the period. Columbia Bank raised its holdings in shares of Intuitive Surgical by 20.9% in the third quarter. Columbia Bank now owns 3,824 shares of the medical equipment provider's stock worth $1,555,000 after acquiring an additional 662 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Intuitive Surgical by 10.8% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,893,485 shares of the medical equipment provider's stock worth $769,948,000 after acquiring an additional 184,044 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Intuitive Surgical during the third quarter worth about $136,743,000. 83.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ISRG has been the subject of a number of research analyst reports. Truist Financial reduced their price target on shares of Intuitive Surgical from $580.00 to $510.00 and set a "buy" rating for the company in a research note on Thursday, July 16th. Wells Fargo & Company restated an "overweight" rating and set a $486.00 price objective (down from $487.00) on shares of Intuitive Surgical in a report on Wednesday, October 21st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Intuitive Surgical in a report on Friday, August 14th. Royal Bank Of Canada dropped their price objective on shares of Intuitive Surgical from $575.00 to $550.00 and set an "outperform" rating for the company in a report on Wednesday, October 21st. Finally, Barclays reiterated an "overweight" rating and set a $500.00 price target (up from $485.00) on shares of Intuitive Surgical in a research note on Wednesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Intuitive Surgical presently has a consensus rating of "Moderate Buy" and an average price target of $493.54.

Intuitive Surgical Stock Performance

Shares of ISRG stock opened at $432.01 on Monday. Intuitive Surgical, Inc. has a 12-month low of $328.57 and a 12-month high of $603.88. The company has a market capitalization of $149.75 billion, a P/E ratio of 52.24, a P/E/G ratio of 2.98 and a beta of 1.45. The business's 50 day moving average is $401.54 and its two-hundred day moving average is $434.05.

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

Insider Transactions at Intuitive Surgical

In other Intuitive Surgical news, Director Craig Barratt sold 1,150 shares of the company's stock in a transaction that occurred on Friday, October 23rd. The stock was sold at an average price of $443.80, for a total value of $510,370.00. Following the completion of the sale, the director directly owned 1,150 shares in the company, valued at $510,370. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Brosius sold 61 shares of the business's stock in a transaction that occurred on Wednesday, October 28th. The stock was sold at an average price of $441.60, for a total value of $26,937.60. Following the completion of the sale, the executive vice president owned 581 shares of the company's stock, valued at approximately $256,569.60. This trade represents a 9.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 38,778 shares of company stock worth $16,814,967 over the last 90 days. Corporate insiders own 0.60% of the company's stock.

About Intuitive Surgical

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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