Intuitive Surgical, Inc. (NASDAQ:ISRG) Shares Bought by Prudential PLC

Key Points

• Prudential PLC increased its holdings in Intuitive Surgical by 41.2%, acquiring an additional 9,797 shares, bringing its total to 33,598 shares valued at approximately $16.64 million.
• Intuitive Surgical reported earnings of $2.19 per share for the last quarter, surpassing estimates, with revenue reaching $2.44 billion, a 21.4% increase year-over-year.
• Analyst ratings for Intuitive Surgical are mixed, with one sell rating, five holds, and fourteen buy ratings, highlighting a consensus rating of "Moderate Buy" and a target price of $595.95.

Prudential PLC grew its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 41.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,598 shares of the medical equipment provider's stock after purchasing an additional 9,797 shares during the quarter. Prudential PLC's holdings in Intuitive Surgical were worth $16,640,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Intuitive Surgical by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 32,665,531 shares of the medical equipment provider's stock valued at $16,178,258,000 after purchasing an additional 453,335 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Intuitive Surgical by 1.7% in the 1st quarter. Invesco Ltd. now owns 4,219,974 shares of the medical equipment provider's stock worth $2,090,027,000 after acquiring an additional 71,794 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Intuitive Surgical by 15.8% in the 4th quarter. Northern Trust Corp now owns 3,619,293 shares of the medical equipment provider's stock worth $1,889,126,000 after acquiring an additional 494,496 shares during the last quarter. Nuveen LLC acquired a new position in shares of Intuitive Surgical in the 1st quarter worth approximately $1,715,899,000. Finally, Capital Research Global Investors lifted its holdings in shares of Intuitive Surgical by 25.5% in the 4th quarter. Capital Research Global Investors now owns 3,381,302 shares of the medical equipment provider's stock worth $1,764,904,000 after acquiring an additional 687,906 shares during the last quarter. Institutional investors and hedge funds own 83.64% of the company's stock.

Insider Buying and Selling

In related news, SVP Mark Brosius sold 216 shares of the stock in a transaction on Friday, June 6th. The shares were 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Myriam Curet sold 4,500 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $492.48, for a total transaction of $2,216,160.00. Following the sale, the executive vice president 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. Insiders sold a total of 15,839 shares of company stock worth $7,896,972 in the last 90 days. Company insiders own 0.70% of the company's stock.

Wall Street Analyst Weigh In

ISRG has been the topic of several recent research reports. Piper Sandler reaffirmed an "overweight" rating and set a $595.00 target price (up from $575.00) on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft downgraded shares of Intuitive Surgical from a "hold" rating to a "sell" rating and cut their target price for the stock from $515.00 to $440.00 in a research note on Monday, June 9th. Wells Fargo & Company upped their target price on shares of Intuitive Surgical from $559.00 to $599.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. UBS Group upped their target price on shares of Intuitive Surgical from $547.00 to $585.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Finally, BTIG Research upped their target price on shares of Intuitive Surgical from $566.00 to $571.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $595.95.

Intuitive Surgical Trading Up 0.7%

Shares of NASDAQ ISRG traded up $3.18 during mid-day trading on Friday, reaching $480.26. The company had a trading volume of 1,433,935 shares, compared to its average volume of 1,995,639. The stock has a market cap of $172.16 billion, a P/E ratio of 66.98, a PEG ratio of 5.06 and a beta of 1.59. The firm has a 50 day simple moving average of $510.29 and a two-hundred day simple moving average of $526.13. Intuitive Surgical, Inc. has a 52-week low of $425.00 and a 52-week high of $616.00.

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 for the quarter, topping analysts' consensus estimates of $1.93 by $0.26. The firm had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.35 billion. Intuitive Surgical had a net margin of 28.51% and a return on equity of 14.56%. Intuitive Surgical's quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.78 EPS. On average, equities analysts expect 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.