KLP Kapitalforvaltning AS Purchases 4,800 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• KLP Kapitalforvaltning AS increased its stake in Intuitive Surgical by 3.9%, acquiring an additional 4,800 shares during the second quarter, bringing its total to 127,962 shares, valued at approximately $69.5 million.
• Wall Street analysts have a generally positive outlook on Intuitive Surgical, with 14 buy ratings, contributing to an average price target of $594.19 per share.
• Significant insider trading activity has been observed, with executives selling a total of 45,224 shares, valued at over $21.7 million in recent months.

KLP Kapitalforvaltning AS lifted its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 3.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 127,962 shares of the medical equipment provider's stock after purchasing an additional 4,800 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Intuitive Surgical were worth $69,536,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Brighton Jones LLC raised its stake in shares of Intuitive Surgical by 24.9% in the 4th quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider's stock valued at $1,916,000 after buying an additional 731 shares in the last quarter. NBC Securities Inc. bought a new stake in Intuitive Surgical in the first quarter valued at about $135,000. Clean Yield Group raised its position in Intuitive Surgical by 50.0% in the first quarter. Clean Yield Group now owns 81 shares of the medical equipment provider's stock worth $40,000 after purchasing an additional 27 shares in the last quarter. Miracle Mile Advisors LLC raised its position in Intuitive Surgical by 1.8% in the first quarter. Miracle Mile Advisors LLC now owns 1,983 shares of the medical equipment provider's stock worth $982,000 after purchasing an additional 35 shares in the last quarter. Finally, OLD National Bancorp IN lifted its stake in Intuitive Surgical by 19.0% during the first quarter. OLD National Bancorp IN now owns 5,295 shares of the medical equipment provider's stock worth $2,622,000 after purchasing an additional 845 shares during the period. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ISRG has been the topic of several analyst reports. Truist Financial upped their price objective on Intuitive Surgical from $590.00 to $600.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Zacks Research lowered Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 20th. Erste Group Bank reiterated a "hold" rating on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. Weiss Ratings reissued a "hold (c+)" rating on shares of Intuitive Surgical in a report on Saturday, September 27th. Finally, Wells Fargo & Company upped their target price on shares of Intuitive Surgical from $559.00 to $599.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Fourteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Intuitive Surgical currently has an average rating of "Moderate Buy" and a consensus target price of $594.19.

Insiders Place Their Bets

In related news, EVP Myriam Curet sold 4,500 shares of the business's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $492.48, for a total value of $2,216,160.00. Following the completion of the transaction, the executive vice president owned 353 shares in the company, valued at $173,845.44. The trade was a 92.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Gary S. Guthart sold 29,360 shares of the company's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $472.49, for a total value of $13,872,306.40. Following the transaction, the insider directly owned 19,827 shares in the company, valued at approximately $9,368,059.23. This represents a 59.69% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,224 shares of company stock valued at $21,716,492. Insiders own 0.70% of the company's stock.

Intuitive Surgical Stock Performance

Shares of ISRG stock opened at $449.69 on Tuesday. Intuitive Surgical, Inc. has a 52 week low of $425.00 and a 52 week high of $616.00. The stock has a market capitalization of $161.20 billion, a PE ratio of 62.72, a PEG ratio of 4.74 and a beta of 1.61. The stock's fifty day moving average is $462.67 and its 200-day moving average is $499.82.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.93 by $0.26. The business had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.35 billion. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%.The firm's revenue for the quarter was up 21.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.78 earnings per share. As a group, analysts forecast that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

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.

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