Marco Investment Management LLC Boosts Stock Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Key Points

• Marco Investment Management LLC has increased its stake in Intuitive Surgical, Inc. by 61.7%, owning 3,227 shares valued at approximately $1,598,000 as of the last quarter.
• The company reported earnings per share of $2.19 for its latest quarter, exceeding analysts' expectations of $1.93, with revenue rising 21.4% year-over-year to $2.44 billion.
• Analysts have mixed ratings on the stock, with a consensus of "Moderate Buy" and an average price target of $592.05, while one investment analyst has issued a sell rating.

Marco Investment Management LLC lifted its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 61.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 3,227 shares of the medical equipment provider's stock after purchasing an additional 1,231 shares during the period. Marco Investment Management LLC's holdings in Intuitive Surgical were worth $1,598,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Picton Mahoney Asset Management grew its holdings in shares of Intuitive Surgical by 18.3% during the 1st quarter. Picton Mahoney Asset Management now owns 54,218 shares of the medical equipment provider's stock valued at $26,852,000 after purchasing an additional 8,393 shares during the last quarter. Foundations Investment Advisors LLC grew its holdings in Intuitive Surgical by 3,012.3% in the 1st quarter. Foundations Investment Advisors LLC now owns 36,103 shares of the medical equipment provider's stock worth $17,881,000 after acquiring an additional 34,943 shares during the last quarter. Baldwin Investment Management LLC grew its holdings in Intuitive Surgical by 3.3% in the 1st quarter. Baldwin Investment Management LLC now owns 9,976 shares of the medical equipment provider's stock worth $4,941,000 after acquiring an additional 319 shares during the last quarter. Prosperity Consulting Group LLC grew its holdings in Intuitive Surgical by 5.7% in the 1st quarter. Prosperity Consulting Group LLC now owns 2,050 shares of the medical equipment provider's stock worth $1,015,000 after acquiring an additional 111 shares during the last quarter. Finally, Galvin Gaustad & Stein LLC grew its holdings in Intuitive Surgical by 144.4% in the 1st quarter. Galvin Gaustad & Stein LLC now owns 1,019 shares of the medical equipment provider's stock worth $505,000 after acquiring an additional 602 shares during the last quarter. Institutional investors own 83.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ISRG. Robert W. Baird cut their price target on shares of Intuitive Surgical from $600.00 to $575.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Piper Sandler reaffirmed an "overweight" rating and issued a $595.00 target price (up from $575.00) on shares of Intuitive Surgical in a research report on Wednesday, July 23rd. Wells Fargo & Company raised their target price on shares of Intuitive Surgical from $559.00 to $599.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. UBS Group raised their target price on shares of Intuitive Surgical from $547.00 to $585.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Finally, Truist Financial raised their target price on shares of Intuitive Surgical from $590.00 to $600.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $592.05.

Insider Activity

In other news, insider Gary S. Guthart sold 2,800 shares of the stock in a transaction on Monday, July 28th. The shares were sold at an average price of $495.24, for a total value of $1,386,672.00. Following the sale, the insider owned 18,520 shares of the company's stock, valued at approximately $9,171,844.80. This represents a 13.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Myriam Curet sold 4,500 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $492.48, for a total transaction of $2,216,160.00. Following the completion of 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,903 shares of company stock valued at $7,932,778. 0.70% of the stock is currently owned by company insiders.

Intuitive Surgical Stock Up 0.1%

Intuitive Surgical stock traded up $0.54 during mid-day trading on Friday, reaching $481.63. 1,868,400 shares of the company's stock traded hands, compared to its average volume of 1,997,391. The company has a market cap of $172.65 billion, a price-to-earnings ratio of 67.17, a PEG ratio of 5.25 and a beta of 1.64. The stock has a 50 day moving average of $525.14 and a two-hundred day moving average of $533.73. Intuitive Surgical, Inc. has a 12-month low of $425.00 and a 12-month high of $616.00.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.26. Intuitive Surgical had a net margin of 28.51% and a return on equity of 14.56%. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the firm posted $1.78 earnings per share. The business's revenue for the quarter was up 21.4% on a year-over-year basis. As a group, sell-side analysts forecast that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Intuitive Surgical Company Profile

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.