Intuitive Surgical, Inc. (NASDAQ:ISRG) Shares Purchased by Invesco Ltd.

Key Points

• Invesco Ltd. increased its ownership in Intuitive Surgical by 1.7% in Q1, holding over 4.2 million shares, making it the firm's 28th largest position.
• Analysts are optimistic about Intuitive Surgical, with a consensus rating of "Moderate Buy" and an average price target of $595.95 following several upgrades from various research firms.
• Intuitive Surgical reported strong Q2 earnings, with an EPS of $2.19, exceeding expectations, and a revenue of $2.44 billion, up 21.4% from the previous year.

Invesco Ltd. increased its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 1.7% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,219,974 shares of the medical equipment provider's stock after purchasing an additional 71,794 shares during the quarter. Intuitive Surgical makes up approximately 0.4% of Invesco Ltd.'s investment portfolio, making the stock its 28th largest position. Invesco Ltd. owned about 1.18% of Intuitive Surgical worth $2,090,027,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in ISRG. AlphaCore Capital LLC increased its holdings in Intuitive Surgical by 4.2% during the 4th quarter. AlphaCore Capital LLC now owns 451 shares of the medical equipment provider's stock worth $235,000 after purchasing an additional 18 shares during the period. Second Line Capital LLC increased its holdings in Intuitive Surgical by 3.4% during the 4th quarter. Second Line Capital LLC now owns 578 shares of the medical equipment provider's stock worth $302,000 after purchasing an additional 19 shares during the period. Colonial Trust Co SC increased its holdings in Intuitive Surgical by 8.8% during the 4th quarter. Colonial Trust Co SC now owns 246 shares of the medical equipment provider's stock worth $128,000 after purchasing an additional 20 shares during the period. Crown Wealth Group LLC increased its holdings in Intuitive Surgical by 4.8% during the 1st quarter. Crown Wealth Group LLC now owns 440 shares of the medical equipment provider's stock worth $218,000 after purchasing an additional 20 shares during the period. Finally, FSM Wealth Advisors LLC increased its holdings in Intuitive Surgical by 3.8% during the 1st quarter. FSM Wealth Advisors LLC now owns 546 shares of the medical equipment provider's stock worth $270,000 after purchasing an additional 20 shares during the period. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Intuitive Surgical news, insider Gary S. Guthart sold 2,800 shares of the stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $495.24, for a total transaction of $1,386,672.00. Following the completion of the sale, the insider directly owned 18,520 shares of the company's stock, valued at approximately $9,171,844.80. This trade represents a 13.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mark Brosius sold 216 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $563.11, for a total value of $121,631.76. Following the sale, the senior vice president directly owned 907 shares of the company's stock, valued at $510,740.77. The trade was a 19.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,859 shares of company stock valued at $7,908,248. 0.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wells Fargo & Company upped their price target on Intuitive Surgical from $559.00 to $599.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada increased their price objective on Intuitive Surgical from $605.00 to $615.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Robert W. Baird dropped their price objective on Intuitive Surgical from $600.00 to $575.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Erste Group Bank reiterated a "hold" rating on shares of Intuitive Surgical in a report on Wednesday, July 23rd. Finally, Citigroup reiterated a "buy" rating and issued a $650.00 price objective (up previously from $590.00) on shares of Intuitive Surgical in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, Intuitive Surgical currently has an average rating of "Moderate Buy" and an average price target of $595.95.

Intuitive Surgical Stock Performance

Intuitive Surgical stock traded down $5.27 during mid-day trading on Thursday, reaching $477.08. 1,892,669 shares of the company were exchanged, compared to its average volume of 2,198,038. Intuitive Surgical, Inc. has a twelve month low of $425.00 and a twelve month high of $616.00. The firm's 50-day simple moving average is $510.29 and its two-hundred day simple moving average is $526.13. The firm has a market cap of $171.02 billion, a PE ratio of 66.54, a price-to-earnings-growth ratio of 5.06 and a beta of 1.59.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share 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 company had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.35 billion. During the same period last year, the firm earned $1.78 EPS. The firm's revenue for the quarter was up 21.4% on a year-over-year basis. As a group, equities research analysts anticipate that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

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.