American Century Companies Inc. Purchases 87,116 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• American Century Companies Inc. increased its stake in Intuitive Surgical by 4.6%, owning nearly 2 million shares valued at approximately $977 million, making it the firm's 17th largest holding.
• Intuitive Surgical recently reported Q2 earnings of $2.19 per share, exceeding analysts' expectations, with quarterly revenue increasing by 21.4% year-over-year, totaling $2.44 billion.
• Analyst ratings for Intuitive Surgical vary, with a consensus of "Moderate Buy" and an average price target of $595.95, while some firms have recently adjusted their price targets significantly.

American Century Companies Inc. increased its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 4.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,972,729 shares of the medical equipment provider's stock after acquiring an additional 87,116 shares during the period. Intuitive Surgical comprises 0.6% of American Century Companies Inc.'s investment portfolio, making the stock its 17th biggest position. American Century Companies Inc. owned approximately 0.55% of Intuitive Surgical worth $977,034,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ISRG. Chilton Capital Management LLC raised its holdings in shares of Intuitive Surgical by 614.3% in the first quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock worth $25,000 after acquiring an additional 43 shares during the last quarter. Parvin Asset Management LLC purchased a new position in Intuitive Surgical in the fourth quarter valued at about $26,000. Global Financial Private Client LLC boosted its holdings in Intuitive Surgical by 253.3% in the first quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider's stock valued at $26,000 after purchasing an additional 38 shares during the last quarter. Elite Financial Inc. acquired a new stake in Intuitive Surgical during the first quarter valued at approximately $26,000. Finally, LFA Lugano Financial Advisors SA acquired a new stake in shares of Intuitive Surgical during the 1st quarter worth approximately $30,000. Institutional investors and hedge funds own 83.64% of the company's stock.

Analysts Set New Price Targets

ISRG has been the subject of a number of research reports. Robert W. Baird decreased their price target on Intuitive Surgical from $600.00 to $575.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft downgraded Intuitive Surgical from a "hold" rating to a "sell" rating and lowered their price target for the company from $515.00 to $440.00 in a research report on Monday, June 9th. Piper Sandler reissued an "overweight" rating and set a $595.00 target price (up from $575.00) on shares of Intuitive Surgical in a research report on Wednesday, July 23rd. Royal Bank Of Canada lifted 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. Finally, Erste Group Bank restated a "hold" rating on shares of Intuitive Surgical in a research report on Wednesday, July 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $595.95.

Intuitive Surgical Trading Up 0.7%

NASDAQ:ISRG traded up $3.18 during mid-day trading on Friday, hitting $480.26. The stock had a trading volume of 1,436,064 shares, compared to its average volume of 2,169,233. The company has a market capitalization of $172.16 billion, a PE ratio of 66.98, a PEG ratio of 5.03 and a beta of 1.59. Intuitive Surgical, Inc. has a twelve month low of $425.00 and a twelve month high of $616.00. The stock has a 50-day simple moving average of $508.75 and a two-hundred day simple moving average of $524.77.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 EPS for the quarter, topping 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 company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the previous year, the firm earned $1.78 EPS. The business's revenue was up 21.4% on a year-over-year basis. Sell-side analysts predict that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

Insider Activity

In other Intuitive Surgical news, insider Gary S. Guthart sold 7,893 shares of the company's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $498.64, for a total value of $3,935,765.52. Following the completion of the transaction, the insider owned 13,187 shares in the company, valued at $6,575,565.68. This represents a 37.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mark Brosius sold 216 shares of the company's stock in a transaction that occurred on Friday, June 6th. The shares were 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 in the company, valued at approximately $510,740.77. This represents a 19.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,839 shares of company stock valued at $7,896,972 in the last 90 days. 0.70% of the stock is currently owned by insiders.

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.