LGT Group Foundation Has $43.21 Million Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Key Points

• LGT Group Foundation increased its stake in Intuitive Surgical, Inc. by 41.9% in the first quarter, acquiring 25,758 shares to own a total of 87,248 shares valued at approximately $43.2 million.
• Intuitive Surgical reported $2.19 earnings per share, surpassing analyst expectations, with a revenue of $2.44 billion for the quarter—up 21.4% year-over-year.
• Despite positive earnings, analysts remain optimistic with several raising their target prices, with equity research firms assigning a consensus target price of $595.95 and an average rating of "Moderate Buy."

LGT Group Foundation increased its position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 41.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 87,248 shares of the medical equipment provider's stock after purchasing an additional 25,758 shares during the period. LGT Group Foundation's holdings in Intuitive Surgical were worth $43,211,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new stake in shares of Intuitive Surgical during the 1st quarter valued at $1,715,899,000. GAMMA Investing LLC boosted its stake in shares of Intuitive Surgical by 54,010.7% during the 1st quarter. GAMMA Investing LLC now owns 3,028,576 shares of the medical equipment provider's stock valued at $14,999,630,000 after buying an additional 3,022,979 shares during the period. Capital Research Global Investors boosted its stake in shares of Intuitive Surgical by 25.5% during the 4th quarter. Capital Research Global Investors now owns 3,381,302 shares of the medical equipment provider's stock valued at $1,764,904,000 after buying an additional 687,906 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Intuitive Surgical by 26.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,819,666 shares of the medical equipment provider's stock valued at $1,396,496,000 after buying an additional 584,375 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Intuitive Surgical by 15.8% during the 4th quarter. Northern Trust Corp now owns 3,619,293 shares of the medical equipment provider's stock valued at $1,889,126,000 after buying an additional 494,496 shares during the period. Institutional investors and hedge funds own 83.64% of the company's stock.

Intuitive Surgical Stock Down 1.1%

NASDAQ ISRG traded down $5.27 during midday trading on Thursday, hitting $477.08. The company had a trading volume of 1,892,669 shares, compared to its average volume of 2,198,038. The stock has a market cap of $171.02 billion, a price-to-earnings ratio of 66.54, a P/E/G ratio of 5.06 and a beta of 1.59. The firm has a fifty day simple moving average of $510.29 and a two-hundred day simple moving average of $526.13. 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 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 company had revenue of $2.44 billion for the quarter, compared to analyst estimates 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 period last year, the business posted $1.78 EPS. As a group, equities analysts predict that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Insiders Place Their Bets

In other Intuitive Surgical news, SVP Mark Brosius sold 216 shares of the firm's stock in a transaction 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 $510,740.77. This trade represents a 19.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Myriam Curet sold 4,500 shares of the firm's stock in a transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,859 shares of company stock worth $7,908,248 in the last ninety days. Insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Erste Group Bank reissued a "hold" rating on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. Piper Sandler restated an "overweight" rating and set a $595.00 price target (up previously from $575.00) on shares of Intuitive Surgical in a report on Wednesday, July 23rd. UBS Group raised their price target on shares of Intuitive Surgical from $547.00 to $585.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Wells Fargo & Company raised their price target on shares of Intuitive Surgical from $559.00 to $599.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Finally, Robert W. Baird cut their price target on shares of Intuitive Surgical from $600.00 to $575.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. One 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 company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.