Nuveen LLC Acquires New Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Key Points

• Nuveen LLC has acquired a significant stake in Intuitive Surgical, Inc., purchasing 3,464,572 shares valued at approximately $1.7 billion, accounting for around 0.97% of the company's total shares.
• Institutional investors hold over 83% of Intuitive Surgical's stock, indicating strong institutional confidence in the company amid recent market activity.
• Intuitive Surgical reported better-than-expected earnings with $2.19 per share, surpassing analysts' expectations, and revenues of $2.44 billion reflecting a year-over-year growth of 21.4%.

Nuveen LLC purchased a new stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 3,464,572 shares of the medical equipment provider's stock, valued at approximately $1,715,899,000. Nuveen LLC owned about 0.97% of Intuitive Surgical as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC lifted its stake in Intuitive Surgical by 24.9% during the 4th quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider's stock valued at $1,916,000 after acquiring an additional 731 shares during the period. Bank Pictet & Cie Europe AG grew its stake in shares of Intuitive Surgical by 0.5% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 190,969 shares of the medical equipment provider's stock worth $99,678,000 after acquiring an additional 883 shares during the period. Scotia Capital Inc. raised its holdings in shares of Intuitive Surgical by 4.1% during the fourth quarter. Scotia Capital Inc. now owns 5,166 shares of the medical equipment provider's stock valued at $2,697,000 after purchasing an additional 204 shares during the last quarter. Kennedy Capital Management LLC lifted its position in Intuitive Surgical by 14.7% during the fourth quarter. Kennedy Capital Management LLC now owns 13,094 shares of the medical equipment provider's stock valued at $6,835,000 after purchasing an additional 1,681 shares during the period. Finally, Heritage Trust Co bought a new position in Intuitive Surgical during the fourth quarter valued at approximately $917,000. Institutional investors own 83.64% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on ISRG shares. Truist Financial lifted their target price on shares of Intuitive Surgical from $590.00 to $600.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft lowered 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. Citigroup reissued a "buy" rating and issued a $650.00 target price (up previously from $590.00) on shares of Intuitive Surgical in a report on Thursday, May 22nd. Erste Group Bank reissued a "hold" rating on shares of Intuitive Surgical in a research report on Wednesday, July 23rd. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $595.00 price target (up previously from $575.00) on shares of Intuitive Surgical in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $595.95.

Insider Transactions at Intuitive Surgical

In other news, insider Gary S. Guthart sold 7,893 shares of the firm's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $498.64, for a total transaction of $3,935,765.52. Following the completion of the transaction, the insider owned 13,187 shares in the company, valued at $6,575,565.68. This trade represents a 37.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Mark Brosius sold 216 shares of the business'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 completion of the sale, the senior vice president owned 907 shares in the company, valued at $510,740.77. This represents a 19.23% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,859 shares of company stock valued at $7,908,248. 0.70% of the stock is currently owned by corporate insiders.

Intuitive Surgical Stock Down 1.3%

NASDAQ:ISRG traded down $6.19 on Thursday, reaching $476.16. 742,413 shares of the company's stock traded hands, compared to its average volume of 1,991,545. The stock has a 50-day simple moving average of $511.91 and a 200-day simple moving average of $526.80. Intuitive Surgical, Inc. has a 12 month low of $425.00 and a 12 month high of $616.00. The firm has a market cap of $170.69 billion, a PE ratio of 66.47, a P/E/G ratio of 5.01 and a beta of 1.59.

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, beating the consensus estimate of $1.93 by $0.26. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the company earned $1.78 EPS. The firm's quarterly revenue was up 21.4% on a year-over-year basis. On average, equities analysts anticipate that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

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.