OFI Invest Asset Management Buys 99,069 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• OFI Invest Asset Management significantly increased its stake in Intuitive Surgical, Inc. by 1,163.7%, acquiring 99,069 shares and raising its total holdings to 107,582 shares, valued at approximately $58.5 million.
• Intuitive Surgical's stock has attracted analyst attention, with a consensus rating of "Moderate Buy" and an average price target ranging from $567.00 to $600.00 among various investment firms.
• Insider trading activities included sales by executives, with Gary S. Guthart selling 29,360 shares valued at $13.87 million, resulting in a significant reduction of their ownership.

OFI Invest Asset Management grew its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 1,163.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 107,582 shares of the medical equipment provider's stock after acquiring an additional 99,069 shares during the quarter. OFI Invest Asset Management's holdings in Intuitive Surgical were worth $58,461,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Aaron Wealth Advisors LLC grew its stake in shares of Intuitive Surgical by 0.8% during the 2nd quarter. Aaron Wealth Advisors LLC now owns 2,528 shares of the medical equipment provider's stock valued at $1,374,000 after purchasing an additional 19 shares during the period. Crown Wealth Group LLC increased its holdings in Intuitive Surgical by 4.8% in the 1st quarter. Crown Wealth Group LLC now owns 440 shares of the medical equipment provider's stock worth $218,000 after acquiring an additional 20 shares in the last quarter. FSM Wealth Advisors LLC increased its holdings in Intuitive Surgical by 3.8% in the 1st quarter. FSM Wealth Advisors LLC now owns 546 shares of the medical equipment provider's stock worth $270,000 after acquiring an additional 20 shares in the last quarter. CFO4Life Group LLC increased its holdings in Intuitive Surgical by 4.8% in the 1st quarter. CFO4Life Group LLC now owns 436 shares of the medical equipment provider's stock worth $216,000 after acquiring an additional 20 shares in the last quarter. Finally, J. W. Coons Advisors LLC increased its holdings in Intuitive Surgical by 1.4% in the 1st quarter. J. W. Coons Advisors LLC now owns 1,497 shares of the medical equipment provider's stock worth $741,000 after acquiring an additional 20 shares in the last quarter. 83.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ISRG has been the subject of a number of research analyst reports. Piper Sandler reaffirmed an "overweight" rating and set a $595.00 price objective (up from $575.00) on shares of Intuitive Surgical in a report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Intuitive Surgical in a research report on Friday, August 22nd. Truist Financial raised their price target on Intuitive Surgical from $590.00 to $600.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. The Goldman Sachs Group lowered their price target on Intuitive Surgical from $621.00 to $567.00 and set a "buy" rating for the company in a research report on Wednesday, October 1st. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $615.00 price target on shares of Intuitive Surgical in a research report on Tuesday, August 19th. Fourteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $589.43.

Insiders Place Their Bets

In other Intuitive Surgical news, insider Gary S. Guthart sold 29,360 shares of the firm's stock in a transaction dated 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 completion of the sale, the insider owned 19,827 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Myriam Curet sold 4,500 shares of the firm'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 completion of the sale, the executive vice president directly owned 353 shares of the company's stock, valued at approximately $173,845.44. This represents a 92.73% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,224 shares of company stock valued at $21,716,492. 0.70% of the stock is currently owned by corporate insiders.

Intuitive Surgical Trading Down 3.2%

Shares of Intuitive Surgical stock opened at $429.59 on Friday. The firm has a market cap of $154.00 billion, a P/E ratio of 59.91, a P/E/G ratio of 4.51 and a beta of 1.61. Intuitive Surgical, Inc. has a 12 month low of $425.00 and a 12 month high of $616.00. The stock's fifty day moving average price is $458.68 and its 200-day moving average price is $497.91.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 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 firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the firm posted $1.78 earnings per share. The business's revenue for the quarter was up 21.4% on a year-over-year basis. Analysts forecast 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.

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