Royal Bank of Canada Has $802.73 Million Stock Position in Intuitive Surgical, Inc. $ISRG

Key Points

• The Royal Bank of Canada increased its stock position in Intuitive Surgical, Inc. by 11.7%, holding 1,620,790 shares valued at $802.73 million as of its latest SEC filing.
• Several hedge funds significantly boosted their holdings in Intuitive Surgical, with Chilton Capital Management increasing by 614.3% and TD Capital Management by 300.0% in the first quarter.
• Equities analysts have raised price targets for Intuitive Surgical, with the average rating being a "Moderate Buy" and an average price target of $595.95, following several upgrades from notable firms.

Royal Bank of Canada raised its position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 11.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,620,790 shares of the medical equipment provider's stock after buying an additional 170,229 shares during the period. Royal Bank of Canada owned 0.45% of Intuitive Surgical worth $802,731,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Chilton Capital Management LLC increased its holdings in Intuitive Surgical by 614.3% during the 1st quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock valued at $25,000 after purchasing an additional 43 shares in the last quarter. Global Financial Private Client LLC grew its holdings in shares of Intuitive Surgical by 253.3% during the first quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider's stock worth $26,000 after purchasing an additional 38 shares during the last quarter. Elite Financial Inc. bought a new position in shares of Intuitive Surgical in the first quarter valued at about $26,000. LFA Lugano Financial Advisors SA bought a new position in shares of Intuitive Surgical in the first quarter valued at about $30,000. Finally, TD Capital Management LLC lifted its position in Intuitive Surgical by 300.0% during the 1st quarter. TD Capital Management LLC now owns 60 shares of the medical equipment provider's stock worth $30,000 after buying an additional 45 shares in the last quarter. Institutional investors and hedge funds own 83.64% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Evercore ISI boosted their target price on shares of Intuitive Surgical from $470.00 to $550.00 and gave the stock an "in-line" rating in a research note on Tuesday, July 8th. BTIG Research raised their price target on shares of Intuitive Surgical from $566.00 to $571.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $615.00 price objective on shares of Intuitive Surgical in a report on Tuesday, August 19th. Wall Street Zen upgraded Intuitive Surgical from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, UBS Group lifted their target price on Intuitive Surgical from $547.00 to $585.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Thirteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $595.95.

Insiders Place Their Bets

In related news, insider Gary S. Guthart sold 7,893 shares of Intuitive Surgical stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $498.64, for a total transaction of $3,935,765.52. Following the transaction, the insider owned 13,187 shares of the company's stock, valued at $6,575,565.68. This trade represents a 37.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Myriam Curet sold 4,500 shares of the business's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $492.48, for a total transaction of $2,216,160.00. Following the transaction, 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. Over the last quarter, insiders have sold 15,839 shares of company stock worth $7,896,972. Insiders own 0.70% of the company's stock.

Intuitive Surgical Stock Performance

ISRG opened at $473.30 on Friday. The company has a fifty day moving average price of $500.45 and a two-hundred day moving average price of $517.51. The firm has a market capitalization of $169.67 billion, a PE ratio of 66.01, a P/E/G ratio of 4.96 and a beta of 1.59. 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 posted its quarterly earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the company earned $1.78 EPS. The firm's revenue was up 21.4% on a year-over-year basis. Equities analysts forecast that Intuitive Surgical, Inc. will post 6.43 EPS for the current 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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