Harbor Investment Advisory LLC Boosts Stake in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Harbor Investment Advisory LLC lifted its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 104.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,384 shares of the medical equipment provider's stock after buying an additional 2,749 shares during the quarter. Harbor Investment Advisory LLC's holdings in Intuitive Surgical were worth $2,667,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Intuitive Surgical by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 32,212,196 shares of the medical equipment provider's stock worth $16,813,478,000 after buying an additional 360,591 shares during the last quarter. Geode Capital Management LLC boosted its position in Intuitive Surgical by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 7,756,727 shares of the medical equipment provider's stock worth $4,039,200,000 after purchasing an additional 243,802 shares in the last quarter. Fisher Asset Management LLC boosted its position in Intuitive Surgical by 1.8% during the fourth quarter. Fisher Asset Management LLC now owns 4,868,869 shares of the medical equipment provider's stock worth $2,541,356,000 after purchasing an additional 86,488 shares in the last quarter. Norges Bank purchased a new position in Intuitive Surgical during the fourth quarter worth approximately $2,401,493,000. Finally, Invesco Ltd. boosted its position in Intuitive Surgical by 7.7% during the fourth quarter. Invesco Ltd. now owns 4,148,180 shares of the medical equipment provider's stock worth $2,165,184,000 after purchasing an additional 295,025 shares in the last quarter. Hedge funds and other institutional investors own 83.64% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on ISRG. Truist Financial cut their price target on Intuitive Surgical from $605.00 to $590.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Evercore ISI cut their price target on Intuitive Surgical from $510.00 to $470.00 and set an "in-line" rating for the company in a report on Wednesday, April 23rd. 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 report on Wednesday, April 23rd. Citigroup reaffirmed a "buy" rating and issued a $650.00 price target (up previously from $590.00) on shares of Intuitive Surgical in a report on Thursday, May 22nd. Finally, Barclays cut their price target on Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $596.05.

Intuitive Surgical Stock Performance

NASDAQ ISRG traded up $3.89 during trading on Thursday, reaching $561.84. 484,420 shares of the company's stock were exchanged, compared to its average volume of 1,643,732. The stock has a market cap of $201.37 billion, a P/E ratio of 87.65, a price-to-earnings-growth ratio of 5.85 and a beta of 1.67. The company has a 50 day moving average price of $519.52 and a two-hundred day moving average price of $538.95. Intuitive Surgical, Inc. has a 1 year low of $405.08 and a 1 year high of $616.00.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The medical equipment provider reported $1.81 EPS for the quarter, topping analysts' consensus estimates of $1.71 by $0.10. Intuitive Surgical had a return on equity of 14.55% and a net margin of 27.81%. The business had revenue of $2.25 billion for the quarter, compared to analysts' expectations of $2.19 billion. During the same quarter in the previous year, the firm earned $1.50 earnings per share. Research analysts forecast that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Brian Edward Miller sold 8,900 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $485.07, for a total transaction of $4,317,123.00. Following the sale, the executive vice president now owns 5,758 shares of the company's stock, valued at $2,793,033.06. The trade was a 60.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mark Brosius sold 215 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $552.07, for a total value of $118,695.05. Following the sale, the senior vice president now directly owns 1,338 shares in the company, valued at $738,669.66. This trade represents a 13.84% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,716 shares of company stock worth $12,831,288. Company insiders own 0.70% of the company's stock.

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.