Norden Group LLC Has $1.33 Million Position in Intuitive Surgical, Inc. $ISRG

Key Points

• Norden Group LLC increased its stake in Intuitive Surgical, Inc. by 39.1% in the second quarter, owning shares valued at $1.33 million as of its latest SEC filing.
• Institutional investors hold 83.64% of Intuitive Surgical's stock, with major contributions from firms like Vanguard Group and Invesco, reflecting strong institutional interest.
• Intuitive Surgical reported earnings of $2.19 per share, surpassing estimates, and had a quarterly revenue increase of 21.4% year-over-year, indicating robust financial performance.

Norden Group LLC boosted its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 39.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,453 shares of the medical equipment provider's stock after buying an additional 690 shares during the period. Norden Group LLC's holdings in Intuitive Surgical were worth $1,333,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Intuitive Surgical by 1.4% during the first quarter. Vanguard Group Inc. now owns 32,665,531 shares of the medical equipment provider's stock worth $16,178,258,000 after buying an additional 453,335 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Intuitive Surgical by 1.7% in the 1st quarter. Invesco Ltd. now owns 4,219,974 shares of the medical equipment provider's stock worth $2,090,027,000 after buying an additional 71,794 shares during the last quarter. Northern Trust Corp grew its position in Intuitive Surgical by 0.3% during the first quarter. Northern Trust Corp now owns 3,631,281 shares of the medical equipment provider's stock valued at $1,798,465,000 after buying an additional 11,988 shares during the period. Wellington Management Group LLP grew its position in Intuitive Surgical by 15.0% during the first quarter. Wellington Management Group LLP now owns 3,499,052 shares of the medical equipment provider's stock valued at $1,732,975,000 after buying an additional 457,080 shares during the period. Finally, Nuveen LLC purchased a new stake in Intuitive Surgical during the first quarter worth about $1,715,899,000. 83.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ISRG has been the subject of a number of research reports. Wells Fargo & Company increased their target price on shares of Intuitive Surgical from $559.00 to $599.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Erste Group Bank reissued a "hold" rating on shares of Intuitive Surgical in a report on Wednesday, July 23rd. BTIG Research raised their target price on Intuitive Surgical from $566.00 to $571.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Intuitive Surgical in a research report on Friday, August 22nd. Finally, Zacks Research lowered Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 20th. Thirteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $595.95.

Intuitive Surgical Stock Performance

NASDAQ:ISRG opened at $443.99 on Thursday. The business's fifty day moving average is $472.54 and its 200 day moving average is $502.13. The firm has a market cap of $159.16 billion, a price-to-earnings ratio of 61.92, a PEG ratio of 4.69 and a beta of 1.61. Intuitive Surgical, Inc. has a 52-week low of $425.00 and a 52-week high of $616.00.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $2.35 billion. During the same quarter in the previous year, the firm earned $1.78 EPS. The company's quarterly revenue was up 21.4% compared to the same quarter last year. Equities analysts predict that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Gary S. Guthart sold 29,360 shares of the 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 sale, the insider owned 19,827 shares in the company, valued at approximately $9,368,059.23. This trade represents a 59.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Myriam Curet sold 4,500 shares of the business's stock in a transaction dated 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 transaction, the executive vice president owned 353 shares of the company's stock, valued at approximately $173,845.44. The trade was a 92.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,224 shares of company stock valued at $21,716,492. Company insiders own 0.70% of the company's stock.

Intuitive Surgical Company 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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