Northern Trust Corp Purchases 11,988 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Northern Trust Corp has increased its holdings in Intuitive Surgical, purchasing an additional 11,988 shares, bringing its total to 3,631,281 shares, valued at approximately $1.8 billion.
• Insider selling was reported, with key executives Mark Brosius and Gary S. Guthart reducing their ownership by 19.23% and 37.44%, respectively, selling shares worth over $7.8 million.
• Despite recent ratings changes from various firms, the consensus rating for Intuitive Surgical stock remains a "Moderate Buy" with an average target price of $595.95.

Northern Trust Corp grew its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 0.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,631,281 shares of the medical equipment provider's stock after purchasing an additional 11,988 shares during the period. Northern Trust Corp owned about 1.01% of Intuitive Surgical worth $1,798,465,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ISRG. Brooklyn Investment Group lifted its holdings in shares of Intuitive Surgical by 3.7% in the 1st quarter. Brooklyn Investment Group now owns 3,022 shares of the medical equipment provider's stock worth $1,497,000 after acquiring an additional 109 shares during the last quarter. Valley Brook Capital Group Inc. raised its position in Intuitive Surgical by 6.3% in the 1st quarter. Valley Brook Capital Group Inc. now owns 510 shares of the medical equipment provider's stock worth $253,000 after purchasing an additional 30 shares during the period. Summit Securities Group LLC lifted its stake in Intuitive Surgical by 5,186.0% in the first quarter. Summit Securities Group LLC now owns 3,013 shares of the medical equipment provider's stock worth $1,492,000 after purchasing an additional 2,956 shares during the last quarter. FCG Investment Co boosted its position in Intuitive Surgical by 19.0% during the first quarter. FCG Investment Co now owns 2,811 shares of the medical equipment provider's stock valued at $1,392,000 after buying an additional 449 shares during the period. Finally, Seek First Inc. bought a new position in shares of Intuitive Surgical during the first quarter valued at about $705,000. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Mark Brosius sold 216 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $563.11, for a total transaction of $121,631.76. Following the transaction, the senior vice president directly owned 907 shares of the company's stock, valued at $510,740.77. This represents a 19.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Gary S. Guthart sold 7,893 shares of Intuitive Surgical stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $498.64, for a total value of $3,935,765.52. Following the completion of the sale, the insider owned 13,187 shares of the company's stock, valued at $6,575,565.68. The trade was a 37.44% 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 worth $7,896,972 in the last three months. Insiders own 0.70% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ISRG. Wall Street Zen raised Intuitive Surgical from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Deutsche Bank Aktiengesellschaft downgraded Intuitive Surgical from a "hold" rating to a "sell" rating and lowered their price objective for the company from $515.00 to $440.00 in a research report on Monday, June 9th. Citigroup reaffirmed a "buy" rating and issued a $650.00 target price (up from $590.00) on shares of Intuitive Surgical in a research note on Thursday, May 22nd. 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 report on Wednesday, July 23rd. Finally, Royal Bank Of Canada upped their price objective on shares of Intuitive Surgical from $605.00 to $615.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $595.95.

Intuitive Surgical Price Performance

ISRG opened at $480.26 on Monday. The firm has a market cap of $172.16 billion, a PE ratio of 66.98, a P/E/G ratio of 5.03 and a beta of 1.59. The stock has a 50-day moving average price of $508.75 and a 200-day moving average price of $524.77. 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 released its quarterly earnings data 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. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.35 billion. Intuitive Surgical had a net margin of 28.51% and a return on equity of 14.56%. Intuitive Surgical's revenue was up 21.4% compared to the same quarter last year. During the same period last year, the business earned $1.78 EPS. As a group, sell-side analysts anticipate that Intuitive Surgical, Inc. will post 6.43 EPS for the current 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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