Northbridge Financial Group LLC Takes Position in Intuitive Surgical, Inc. $ISRG

Key Points

• Northbridge Financial Group opened a new position in Intuitive Surgical during the fourth quarter, buying 2,430 shares worth about $1.38 million.
• Institutional interest remains strong overall, with hedge funds and other investors owning 83.64% of the company’s stock.
• Intuitive Surgical posted better-than-expected quarterly results, including EPS of $2.50 versus $2.08 expected and revenue of $2.77 billion, though analysts have recently trimmed some price targets while maintaining mostly Buy ratings.

Northbridge Financial Group LLC acquired a new stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 2,430 shares of the medical equipment provider's stock, valued at approximately $1,376,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Draper Asset Management LLC raised its holdings in shares of Intuitive Surgical by 41.9% during the 4th quarter. Draper Asset Management LLC now owns 5,029 shares of the medical equipment provider's stock valued at $2,848,000 after buying an additional 1,485 shares in the last quarter. Atlantic Union Bankshares Corp raised its holdings in shares of Intuitive Surgical by 19.3% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 22,759 shares of the medical equipment provider's stock valued at $10,179,000 after buying an additional 3,676 shares in the last quarter. Valley Wealth Managers Inc. raised its position in Intuitive Surgical by 52.7% in the 3rd quarter. Valley Wealth Managers Inc. now owns 4,084 shares of the medical equipment provider's stock worth $1,826,000 after purchasing an additional 1,409 shares during the period. AGF Management Ltd. raised its position in Intuitive Surgical by 0.6% in the 3rd quarter. AGF Management Ltd. now owns 464,179 shares of the medical equipment provider's stock worth $207,595,000 after purchasing an additional 2,575 shares during the period. Finally, AE Wealth Management LLC raised its position in Intuitive Surgical by 18.9% in the 3rd quarter. AE Wealth Management LLC now owns 11,556 shares of the medical equipment provider's stock worth $5,168,000 after purchasing an additional 1,836 shares during the period. Hedge funds and other institutional investors own 83.64% of the company's stock.

Wall Street Analyst Weigh In

ISRG has been the topic of a number of analyst reports. BTIG Research reiterated a "buy" rating and issued a $574.00 target price on shares of Intuitive Surgical in a research report on Wednesday, April 22nd. Bank of America decreased their target price on shares of Intuitive Surgical from $650.00 to $520.00 and set a "buy" rating on the stock in a research report on Monday. Wall Street Zen upgraded shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a research report on Saturday. Truist Financial decreased their target price on shares of Intuitive Surgical from $650.00 to $580.00 and set a "buy" rating on the stock in a research report on Wednesday, April 15th. Finally, 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. Nineteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $579.33.

Insider Activity at Intuitive Surgical

In related news, Director Amy L. Ladd sold 500 shares of the company's stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $473.46, for a total value of $236,730.00. Following the sale, the director directly owned 239 shares of the company's stock, valued at $113,156.94. This represents a 67.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark Brosius sold 2,362 shares of the company's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $498.68, for a total value of $1,177,882.16. Following the completion of the sale, the senior vice president directly owned 3,554 shares in the company, valued at approximately $1,772,308.72. The trade was a 39.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 5,647 shares of company stock valued at $2,760,359 over the last three months. Corporate insiders own 0.60% of the company's stock.

Intuitive Surgical Stock Performance

ISRG opened at $441.58 on Wednesday. Intuitive Surgical, Inc. has a 52-week low of $417.74 and a 52-week high of $603.88. The stock's 50 day moving average price is $461.52 and its 200-day moving average price is $512.36. The stock has a market capitalization of $156.39 billion, a PE ratio of 53.52, a price-to-earnings-growth ratio of 3.51 and a beta of 1.51.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its quarterly 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 net margin of 28.15% and a return on equity of 15.98%. The company had revenue of $2.77 billion for the quarter, compared to analysts' expectations of $2.62 billion. During the same quarter in the previous year, the company earned $1.81 earnings per share. Intuitive Surgical's quarterly revenue was up 23.0% on a year-over-year basis. Research analysts forecast that Intuitive Surgical, Inc. will post 8.57 EPS for the current fiscal year.

Intuitive Surgical Company 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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