AGF Management Ltd. Acquires 24,841 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Key Points

• AGF Management Ltd. increased its holdings in Intuitive Surgical, Inc. by 3.0%, acquiring an additional 24,841 shares, now making up 2.3% of its total portfolio.
• Major hedge funds like Castleark Management and Arlington Trust have also boosted their stakes in Intuitive Surgical, contributing to a total institutional ownership of 83.64% of the company’s stock.
• Intuitive Surgical surpassed earnings expectations with a reported $2.19 EPS for the last quarter, exceeding analysts' consensus of $1.93, and its revenue increased by 21.4% year-over-year.

AGF Management Ltd. increased its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 3.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 863,489 shares of the medical equipment provider's stock after purchasing an additional 24,841 shares during the period. Intuitive Surgical accounts for approximately 2.3% of AGF Management Ltd.'s portfolio, making the stock its 5th largest position. AGF Management Ltd. owned 0.24% of Intuitive Surgical worth $427,660,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Castleark Management LLC boosted its stake in Intuitive Surgical by 3.4% in the fourth quarter. Castleark Management LLC now owns 90,469 shares of the medical equipment provider's stock valued at $47,221,000 after acquiring an additional 2,990 shares in the last quarter. Arlington Trust Co LLC boosted its stake in Intuitive Surgical by 34.5% in the first quarter. Arlington Trust Co LLC now owns 745 shares of the medical equipment provider's stock valued at $369,000 after acquiring an additional 191 shares in the last quarter. Aveo Capital Partners LLC boosted its stake in Intuitive Surgical by 37.4% in the first quarter. Aveo Capital Partners LLC now owns 727 shares of the medical equipment provider's stock valued at $390,000 after acquiring an additional 198 shares in the last quarter. Aaron Wealth Advisors LLC boosted its stake in Intuitive Surgical by 3.2% in the first quarter. Aaron Wealth Advisors LLC now owns 2,509 shares of the medical equipment provider's stock valued at $1,243,000 after acquiring an additional 78 shares in the last quarter. Finally, Longbow Finance SA boosted its stake in Intuitive Surgical by 132.0% in the first quarter. Longbow Finance SA now owns 19,699 shares of the medical equipment provider's stock valued at $9,756,000 after acquiring an additional 11,209 shares in the last quarter. Institutional investors and hedge funds own 83.64% of the company's stock.

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, insider Gary S. Guthart sold 7,893 shares of the stock in a transaction dated Monday, July 28th. The shares were 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 directly owned 13,187 shares of the company's stock, valued at approximately $6,575,565.68. This trade represents a 37.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Myriam Curet sold 4,500 shares of the stock in a transaction dated Friday, July 25th. The shares were 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 of the company's stock, valued at approximately $173,845.44. This trade represents a 92.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,881 shares of company stock valued at $7,920,634. Corporate insiders own 0.70% of the company's stock.

Intuitive Surgical Stock Up 1.3%

NASDAQ ISRG traded up $6.34 during trading hours on Tuesday, hitting $478.19. 1,529,402 shares of the stock were exchanged, compared to its average volume of 2,211,435. The company has a market cap of $171.42 billion, a price-to-earnings ratio of 66.69, a price-to-earnings-growth ratio of 4.95 and a beta of 1.59. Intuitive Surgical, Inc. has a 12-month low of $425.00 and a 12-month high of $616.00. The stock has a 50-day moving average of $513.42 and a 200 day moving average of $527.10.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.26. The firm had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.35 billion. Intuitive Surgical had a net margin of 28.51% and a return on equity of 14.56%. The firm's revenue for the quarter was up 21.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.78 earnings per share. On average, equities research analysts expect that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. BTIG Research upped their price objective on shares of Intuitive Surgical from $566.00 to $571.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Erste Group Bank restated a "hold" rating on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. Wall Street Zen upgraded shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Deutsche Bank Aktiengesellschaft downgraded shares of Intuitive Surgical from a "hold" rating to a "sell" rating and decreased their target price for the stock from $515.00 to $440.00 in a research note on Monday, June 9th. Finally, Piper Sandler reiterated an "overweight" rating and set a $595.00 target price (up previously from $575.00) on shares of Intuitive Surgical in a research note 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 stock. Based on data from MarketBeat.com, Intuitive Surgical has a consensus rating of "Moderate Buy" and an average price target of $595.95.

Intuitive Surgical 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.