Novem Group Takes Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Novem Group bought a new stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 784 shares of the medical equipment provider's stock, valued at approximately $388,000.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Intuitive Surgical by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 32,212,196 shares of the medical equipment provider's stock valued at $16,813,478,000 after acquiring an additional 360,591 shares during the last quarter. Geode Capital Management LLC grew its holdings in Intuitive Surgical by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 7,756,727 shares of the medical equipment provider's stock valued at $4,039,200,000 after purchasing an additional 243,802 shares during the period. Norges Bank purchased a new stake in Intuitive Surgical in the fourth quarter valued at approximately $2,401,493,000. Invesco Ltd. increased its position in Intuitive Surgical by 7.7% during the fourth quarter. Invesco Ltd. now owns 4,148,180 shares of the medical equipment provider's stock worth $2,165,184,000 after purchasing an additional 295,025 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Intuitive Surgical by 15.8% during the fourth quarter. Northern Trust Corp now owns 3,619,293 shares of the medical equipment provider's stock worth $1,889,126,000 after purchasing an additional 494,496 shares during the period. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Barclays lowered their price objective on shares of Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Erste Group Bank upgraded Intuitive Surgical from a "hold" rating to a "buy" rating in a report on Thursday, June 5th. Piper Sandler lowered their price target on Intuitive Surgical from $670.00 to $575.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft downgraded Intuitive Surgical from a "hold" rating to a "sell" rating and cut their price objective for the stock from $515.00 to $440.00 in a report on Monday, June 9th. Finally, Evercore ISI reduced their price objective on Intuitive Surgical from $510.00 to $470.00 and set an "in-line" rating on the stock in a research note on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $588.95.

Intuitive Surgical Trading Up 0.6%

Shares of ISRG stock opened at $543.74 on Friday. The firm has a fifty day simple moving average of $536.53 and a 200-day simple moving average of $536.77. The company has a market capitalization of $194.89 billion, a PE ratio of 79.73, a price-to-earnings-growth ratio of 5.73 and a beta of 1.64. Intuitive Surgical, Inc. has a twelve month low of $413.82 and a twelve month high of $616.00.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The medical equipment provider reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.71 by $0.10. Intuitive Surgical had a net margin of 28.41% and a return on equity of 14.43%. The company had revenue of $2.25 billion during the quarter, compared to analysts' expectations of $2.19 billion. During the same period in the prior year, the company posted $1.50 EPS. Equities research analysts predict that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

Insiders Place Their Bets

In other Intuitive Surgical news, EVP Robert Desantis sold 188 shares of Intuitive Surgical stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $515.91, for a total transaction of $96,991.08. Following the sale, the executive vice president directly owned 5,224 shares in the company, valued at $2,695,113.84. The trade was a 3.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jami K. Nachtsheim sold 2,400 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $520.00, for a total value of $1,248,000.00. Following the transaction, the director owned 6,371 shares of the company's stock, valued at approximately $3,312,920. This trade represents a 27.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,998 shares of company stock worth $2,611,577. Company 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.

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