Lingotto Investment Management LLP Increases Holdings in Intuitive Surgical, Inc. $ISRG

Key Points

• Lingotto Investment Management LLP increased its stake in Intuitive Surgical by 41.1% in the fourth quarter, adding 31,399 shares to reach 107,756 shares valued at about $61.0 million.
• Intuitive Surgical reported better-than-expected quarterly results, posting EPS of $2.50 versus the $2.08 estimate and revenue of $2.77 billion, up 23% year over year.
• Despite some insider selling and recent target cuts, Wall Street remains generally positive on the stock, with a Moderate Buy consensus and an average price target of $576.71.

Lingotto Investment Management LLP lifted its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 41.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 107,756 shares of the medical equipment provider's stock after buying an additional 31,399 shares during the period. Intuitive Surgical comprises 1.1% of Lingotto Investment Management LLP's investment portfolio, making the stock its 16th largest position. Lingotto Investment Management LLP's holdings in Intuitive Surgical were worth $61,029,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Newbridge Financial Services Group Inc. raised its holdings in shares of Intuitive Surgical by 300.0% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider's stock valued at $25,000 after buying an additional 33 shares in the last quarter. Holos Integrated Wealth LLC purchased a new position in shares of Intuitive Surgical during the 4th quarter valued at about $25,000. Olistico Wealth LLC purchased a new position in shares of Intuitive Surgical during the 4th quarter valued at about $28,000. Laurel Wealth Advisors LLC purchased a new position in Intuitive Surgical in the 4th quarter worth approximately $31,000. Finally, Turning Point Benefit Group Inc. increased its stake in Intuitive Surgical by 833.3% in the 4th quarter. Turning Point Benefit Group Inc. now owns 56 shares of the medical equipment provider's stock worth $32,000 after purchasing an additional 50 shares during the period. 83.64% of the stock is owned by hedge funds and other institutional investors.

Intuitive Surgical Stock Performance

ISRG opened at $412.26 on Tuesday. Intuitive Surgical, Inc. has a 52-week low of $411.83 and a 52-week high of $603.88. The stock has a market capitalization of $146.01 billion, a PE ratio of 49.97, a price-to-earnings-growth ratio of 3.39 and a beta of 1.46. The stock's 50 day moving average price is $452.19 and its 200-day moving average price is $504.81.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.42. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The firm had revenue of $2.77 billion for the quarter, compared to analysts' expectations of $2.62 billion. During the same period in the previous year, the firm earned $1.81 earnings per share. The business's revenue was up 23.0% compared to the same quarter last year. Research analysts forecast that Intuitive Surgical, Inc. will post 8.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Amy L. Ladd sold 500 shares of the business's stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $473.46, for a total transaction of $236,730.00. Following the transaction, the director directly owned 239 shares of the company's stock, valued at approximately $113,156.94. The trade was a 67.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Myriam Curet sold 105 shares of the business's stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $493.95, for a total value of $51,864.75. The SEC filing for this sale provides additional information. Insiders sold a total of 4,833 shares of company stock valued at $2,357,582 over the last three months. 0.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ISRG. Leerink Partners decreased their price target on Intuitive Surgical from $622.00 to $573.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 22nd. TD Cowen decreased their price target on Intuitive Surgical from $660.00 to $585.00 and set a "buy" rating on the stock in a research note on Wednesday, April 22nd. Piper Sandler decreased their price target on Intuitive Surgical from $620.00 to $580.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 22nd. Citigroup raised Intuitive Surgical from a "neutral" rating to a "buy" rating and set a $590.00 price target on the stock in a research note on Wednesday, March 11th. Finally, Wall Street Zen cut Intuitive Surgical from a "buy" rating to a "hold" rating in a research note on Sunday, May 24th. Nineteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $576.71.

Intuitive Surgical Profile

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon's hand movements into finer, scaled motions of small instruments inside the patient. Intuitive's business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.

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