Peak Financial Management Inc. Buys New Stake in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Key Points

• Peak Financial Management Inc. has acquired a new stake in Intuitive Surgical, Inc., purchasing 613 shares valued at approximately $304,000 during the first quarter of the fiscal year.
• Institutional ownership has increased significantly, as 83.64% of the company's stock is now held by institutional investors, with significant stakes added by companies like Vanguard Group and Invesco Ltd.
• Despite beating quarterly earnings estimates and showing revenue growth of 21.4% year-over-year, Intuitive Surgical's stock target prices have been adjusted by several brokerages, reflecting mixed analyst opinions with a consensus rating of "Moderate Buy."

Peak Financial Management Inc. bought a new stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 613 shares of the medical equipment provider's stock, valued at approximately $304,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Intuitive Surgical by 1.4% during the first quarter. Vanguard Group Inc. now owns 32,665,531 shares of the medical equipment provider's stock worth $16,178,258,000 after buying an additional 453,335 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Intuitive Surgical by 1.7% during the first quarter. Invesco Ltd. now owns 4,219,974 shares of the medical equipment provider's stock worth $2,090,027,000 after purchasing an additional 71,794 shares during the last quarter. Northern Trust Corp grew its holdings in shares of 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 last quarter. Nuveen LLC bought a new stake in shares of Intuitive Surgical during the first quarter worth $1,715,899,000. Finally, Capital Research Global Investors grew its holdings in shares of Intuitive Surgical by 25.5% during the fourth quarter. Capital Research Global Investors now owns 3,381,302 shares of the medical equipment provider's stock worth $1,764,904,000 after purchasing an additional 687,906 shares during the last quarter. Institutional investors own 83.64% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on ISRG. Barclays decreased their target price on Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Wells Fargo & Company increased their price target on shares of Intuitive Surgical from $559.00 to $599.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Truist Financial increased their price target on shares of Intuitive Surgical from $590.00 to $600.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Robert W. Baird reduced their price objective on shares of Intuitive Surgical from $600.00 to $575.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Finally, BTIG Research lifted their target price on shares of Intuitive Surgical from $566.00 to $571.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Intuitive Surgical presently has a consensus rating of "Moderate Buy" and a consensus target price of $595.95.

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, EVP Myriam Curet sold 4,500 shares of Intuitive Surgical stock in a transaction on Friday, July 25th. The shares were sold at an average price of $492.48, for a total value of $2,216,160.00. Following the sale, the executive vice president directly owned 353 shares in the company, valued at approximately $173,845.44. The trade was a 92.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gary S. Guthart sold 2,800 shares of Intuitive Surgical stock in a transaction on Monday, July 28th. The shares were sold at an average price of $495.24, for a total transaction of $1,386,672.00. Following the completion of the sale, the insider owned 18,520 shares in the company, valued at $9,171,844.80. The trade was a 13.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,881 shares of company stock worth $7,920,634. Insiders own 0.70% of the company's stock.

Intuitive Surgical Trading Up 0.1%

ISRG opened at $470.08 on Monday. The stock has a market capitalization of $168.51 billion, a P/E ratio of 65.56, a P/E/G ratio of 4.93 and a beta of 1.59. Intuitive Surgical, Inc. has a 12 month low of $425.00 and a 12 month high of $616.00. The firm's fifty day simple moving average is $516.52 and its 200 day simple moving average is $528.23.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued its quarterly 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 net margin of 28.51% and a return on equity of 14.56%. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the previous year, the business earned $1.78 EPS. The company's revenue was up 21.4% compared to the same quarter last year. On average, equities research analysts predict that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

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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