Mirova US LLC Purchases 183,631 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Mirova US LLC increased its stake in Intuitive Surgical, Inc. by 47.8%, acquiring an additional 183,631 shares, bringing its total ownership to 568,123 shares, which is about 3.2% of its portfolio.
• Multiple institutional investors have also shown interest, with 83.64% of Intuitive Surgical's stock currently owned by institutional investors, and Chilton Capital Management raising its stake by 614.3% in the first quarter.
• Analysts generally maintain a positive outlook for Intuitive Surgical, with an average price target of $589.43 and fourteen analysts rating the stock as a Buy.

Mirova US LLC boosted its position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 47.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 568,123 shares of the medical equipment provider's stock after acquiring an additional 183,631 shares during the period. Intuitive Surgical accounts for approximately 3.2% of Mirova US LLC's portfolio, making the stock its 11th largest holding. Mirova US LLC owned approximately 0.16% of Intuitive Surgical worth $308,724,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Chilton Capital Management LLC raised its stake in Intuitive Surgical by 614.3% in the 1st quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock valued at $25,000 after acquiring an additional 43 shares during the period. Elite Financial Inc. bought a new stake in Intuitive Surgical in the 1st quarter valued at about $26,000. LFA Lugano Financial Advisors SA bought a new stake in Intuitive Surgical in the 1st quarter valued at about $30,000. TD Capital Management LLC raised its stake in Intuitive Surgical by 300.0% in the 1st quarter. TD Capital Management LLC now owns 60 shares of the medical equipment provider's stock valued at $30,000 after acquiring an additional 45 shares during the period. Finally, 1248 Management LLC bought a new stake in shares of Intuitive Surgical during the first quarter valued at about $30,000. 83.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ISRG has been the topic of several analyst reports. Piper Sandler reiterated an "overweight" rating and set a $595.00 price target (up from $575.00) on shares of Intuitive Surgical in a research report on Wednesday, July 23rd. Royal Bank Of Canada reiterated an "outperform" rating and set a $615.00 price target on shares of Intuitive Surgical in a research report on Tuesday, August 19th. Truist Financial upped their price target on Intuitive Surgical from $590.00 to $600.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. UBS Group upped their price target on Intuitive Surgical from $547.00 to $585.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Finally, Zacks Research cut Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 20th. Fourteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $589.43.

Insiders Place Their Bets

In other Intuitive Surgical news, EVP Myriam Curet sold 4,500 shares of the company's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $492.48, for a total value of $2,216,160.00. Following the completion of the sale, the executive vice president owned 353 shares of the company's stock, valued at $173,845.44. This represents a 92.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gary S. Guthart sold 29,360 shares of the company's stock in a transaction that occurred 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 completion of the sale, the insider directly owned 19,827 shares of the company's stock, 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. Insiders sold a total of 45,224 shares of company stock valued at $21,716,492 over the last quarter. 0.70% of the stock is owned by corporate insiders.

Intuitive Surgical Trading Down 1.9%

ISRG stock opened at $440.94 on Wednesday. The company's 50 day moving average is $461.55 and its 200 day moving average is $499.41. The stock has a market cap of $158.07 billion, a price-to-earnings ratio of 61.50, a price-to-earnings-growth ratio of 4.71 and a beta of 1.61. Intuitive Surgical, Inc. has a 1-year low of $425.00 and a 1-year high of $616.00.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued its 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 business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.35 billion. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%.Intuitive Surgical's revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.78 earnings per share. As a group, sell-side analysts forecast that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

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.

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