iA Global Asset Management Inc. Purchases 1,121 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Key Points

• iA Global Asset Management Inc. increased its holdings in Intuitive Surgical by 2.3% in the first quarter, now owning 50,916 shares valued at approximately $25.2 million.
• Several institutional investors adjusted their positions, with World Investment Advisors growing their stake by 97.4% in the fourth quarter, demonstrating strong interest in the company's stock.
• Analysts have set new price targets for Intuitive Surgical, with UBS Group raising theirs to $585, affecting the overall market consensus to a "Moderate Buy" rating with an average target of $595.95.

iA Global Asset Management Inc. raised its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 50,916 shares of the medical equipment provider's stock after purchasing an additional 1,121 shares during the quarter. iA Global Asset Management Inc.'s holdings in Intuitive Surgical were worth $25,217,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of ISRG. AlphaCore Capital LLC boosted its position 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 acquiring an additional 18 shares during the period. Accredited Investors Inc. lifted its position in shares of Intuitive Surgical by 1.9% in the fourth quarter. Accredited Investors Inc. now owns 1,040 shares of the medical equipment provider's stock worth $543,000 after purchasing an additional 19 shares in the last quarter. Second Line Capital LLC boosted its holdings in shares of Intuitive Surgical by 3.4% during the fourth 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 boosted its holdings in shares of Intuitive Surgical by 8.8% during the fourth 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. Finally, Crown Wealth Group LLC grew its position in Intuitive Surgical by 4.8% during the first quarter. Crown Wealth Group LLC now owns 440 shares of the medical equipment provider's stock valued at $218,000 after purchasing an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 83.64% of the company's stock.

Intuitive Surgical Stock Performance

Shares of Intuitive Surgical stock traded down $2.94 on Wednesday, reaching $474.06. The stock had a trading volume of 2,189,756 shares, compared to its average volume of 2,261,750. The business's 50-day moving average price is $521.43 and its two-hundred day moving average price is $531.52. The stock has a market cap of $169.94 billion, a P/E ratio of 66.12, a price-to-earnings-growth ratio of 5.00 and a beta of 1.59. Intuitive Surgical, Inc. has a fifty-two week low of $425.00 and a fifty-two week 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 EPS for the quarter, topping the consensus estimate of $1.93 by $0.26. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.35 billion. Intuitive Surgical had a net margin of 28.51% and a return on equity of 14.56%. The business's quarterly revenue was up 21.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.78 EPS. As a group, equities analysts forecast that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Royal Bank Of Canada increased their target price on shares of Intuitive Surgical from $605.00 to $615.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Piper Sandler reaffirmed an "overweight" rating and issued a $595.00 price target (up from $575.00) on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. Erste Group Bank reissued a "hold" rating on shares of Intuitive Surgical in a research report on Wednesday, July 23rd. Truist Financial boosted their target price on Intuitive Surgical from $590.00 to $600.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Finally, Robert W. Baird cut 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. One equities 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 stock. According to data from MarketBeat, Intuitive Surgical currently has a consensus rating of "Moderate Buy" and an average price target of $595.95.

Insider Transactions at Intuitive Surgical

In related news, EVP Myriam Curet sold 4,500 shares of the stock in a transaction that occurred on 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 sale, the executive vice president owned 353 shares in the company, valued at $173,845.44. This represents a 92.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Mark Brosius sold 216 shares of Intuitive Surgical 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 completion of the transaction, 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. Over the last ninety days, insiders have sold 15,903 shares of company stock worth $7,932,778. Company insiders own 0.70% of the company's stock.

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.