Intuitive Surgical, Inc. (NASDAQ:ISRG) Stake Raised by Lord Abbett & CO. LLC

Key Points

• Lord Abbett & CO. LLC increased its holdings in Intuitive Surgical by 11.3%, owning approximately 314,437 shares valued at $155.73 million as of their latest SEC filing.
• Intuitive Surgical reported earnings of $2.19 per share, beating analysts' estimates of $1.93, with revenue rising 21.4% year-over-year to $2.44 billion.
• Despite positive earnings and analyst upgrades, including price target increases, insiders sold a total of 15,859 shares of Intuitive Surgical stock in the last quarter.

Lord Abbett & CO. LLC boosted its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 11.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 314,437 shares of the medical equipment provider's stock after buying an additional 31,978 shares during the period. Lord Abbett & CO. LLC owned 0.09% of Intuitive Surgical worth $155,731,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Castleark Management LLC increased its position in Intuitive Surgical by 3.4% in the fourth quarter. Castleark Management LLC now owns 90,469 shares of the medical equipment provider's stock worth $47,221,000 after buying an additional 2,990 shares during the period. Arlington Trust Co LLC grew its stake in shares of Intuitive Surgical by 34.5% in the first quarter. Arlington Trust Co LLC now owns 745 shares of the medical equipment provider's stock worth $369,000 after purchasing an additional 191 shares in the last quarter. Aveo Capital Partners LLC grew its stake in shares of Intuitive Surgical by 37.4% in the first quarter. Aveo Capital Partners LLC now owns 727 shares of the medical equipment provider's stock worth $390,000 after purchasing an additional 198 shares in the last quarter. Aaron Wealth Advisors LLC grew its stake in shares of Intuitive Surgical by 3.2% in the first quarter. Aaron Wealth Advisors LLC now owns 2,509 shares of the medical equipment provider's stock worth $1,243,000 after purchasing an additional 78 shares in the last quarter. Finally, Longbow Finance SA grew its stake in shares of Intuitive Surgical by 132.0% in the first quarter. Longbow Finance SA now owns 19,699 shares of the medical equipment provider's stock worth $9,756,000 after purchasing an additional 11,209 shares in the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ISRG shares. Piper Sandler reissued an "overweight" rating and issued a $595.00 price target (up previously from $575.00) on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. Citigroup reissued a "buy" rating and issued a $650.00 price target (up previously from $590.00) on shares of Intuitive Surgical in a research note on Thursday, May 22nd. Royal Bank Of Canada increased their price target on Intuitive Surgical from $605.00 to $615.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 23rd. BTIG Research increased their price target on Intuitive Surgical from $566.00 to $571.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Finally, Evercore ISI increased their price target on Intuitive Surgical from $470.00 to $550.00 and gave the stock an "in-line" rating in a research note on Tuesday, July 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, Intuitive Surgical currently has a consensus rating of "Moderate Buy" and an average price target of $595.95.

Intuitive Surgical Stock Up 0.7%

Shares of NASDAQ ISRG traded up $3.18 during mid-day trading on Friday, hitting $480.26. 1,436,064 shares of the company traded hands, compared to its average volume of 2,192,612. Intuitive Surgical, Inc. has a 1 year low of $425.00 and a 1 year high of $616.00. The stock has a market capitalization of $172.16 billion, a price-to-earnings ratio of 66.98, a PEG ratio of 5.03 and a beta of 1.59. The business has a 50 day moving average of $508.75 and a two-hundred day moving average of $525.16.

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, beating the consensus estimate of $1.93 by $0.26. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the prior year, the business posted $1.78 earnings per share. Intuitive Surgical's revenue was up 21.4% compared to the same quarter last year. As a group, research analysts anticipate that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

Insider Activity

In other news, insider Gary S. Guthart sold 2,800 shares of the company's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $495.24, for a total transaction of $1,386,672.00. Following the completion of the sale, the insider directly owned 18,520 shares of the company's stock, valued at $9,171,844.80. This represents a 13.13% decrease in their ownership of the stock. The sale 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 company's stock in a transaction 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 sale, the executive vice president directly owned 353 shares of the company's stock, valued at approximately $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 sold a total of 15,839 shares of company stock valued at $7,896,972 over the last three months. Insiders own 0.70% of the company's stock.

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.