Tidal Investments LLC Buys 40,539 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Tidal Investments LLC lifted its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 207.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 60,114 shares of the medical equipment provider's stock after acquiring an additional 40,539 shares during the quarter. Tidal Investments LLC's holdings in Intuitive Surgical were worth $31,377,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ISRG. Carnegie Investment Counsel lifted its stake in shares of Intuitive Surgical by 33.3% during the 4th quarter. Carnegie Investment Counsel now owns 653 shares of the medical equipment provider's stock valued at $341,000 after buying an additional 163 shares in the last quarter. Ritholtz Wealth Management boosted its stake in Intuitive Surgical by 1.0% in the 4th quarter. Ritholtz Wealth Management now owns 4,465 shares of the medical equipment provider's stock worth $2,331,000 after purchasing an additional 44 shares during the period. Occidental Asset Management LLC purchased a new stake in Intuitive Surgical during the 4th quarter valued at approximately $296,000. Decker Retirement Planning Inc. bought a new stake in shares of Intuitive Surgical during the fourth quarter valued at approximately $36,000. Finally, Goldstone Financial Group LLC lifted its holdings in shares of Intuitive Surgical by 7.1% in the fourth quarter. Goldstone Financial Group LLC now owns 513 shares of the medical equipment provider's stock worth $268,000 after buying an additional 34 shares in the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

Intuitive Surgical Price Performance

Shares of ISRG traded down $4.47 during mid-day trading on Tuesday, reaching $557.16. 1,233,924 shares of the company's stock traded hands, compared to its average volume of 1,644,790. The stock's 50-day moving average is $508.11 and its two-hundred day moving average is $537.36. Intuitive Surgical, Inc. has a 12 month low of $396.15 and a 12 month high of $616.00. The stock has a market cap of $199.70 billion, a P/E ratio of 86.92, a P/E/G ratio of 5.85 and a beta of 1.70.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its earnings results on Tuesday, April 22nd. The medical equipment provider reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates of $1.71 by $0.10. The business had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.19 billion. Intuitive Surgical had a return on equity of 14.55% and a net margin of 27.81%. During the same quarter last year, the firm posted $1.50 earnings per share. Research analysts predict that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on ISRG. Bernstein Bank boosted their price target on shares of Intuitive Surgical from $655.00 to $700.00 and gave the stock an "overweight" rating in a research note on Monday, January 27th. Piper Sandler decreased their target price on Intuitive Surgical from $670.00 to $575.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. CICC Research assumed coverage on Intuitive Surgical in a report on Monday, January 27th. They set a "neutral" rating and a $550.00 price target for the company. Jefferies Financial Group lifted their price objective on Intuitive Surgical from $475.00 to $575.00 in a research note on Monday, January 27th. Finally, Barclays lowered their target price on Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat, Intuitive Surgical has a consensus rating of "Moderate Buy" and an average target price of $598.95.

Insiders Place Their Bets

In related news, EVP Brian Edward Miller sold 8,900 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $485.07, for a total value of $4,317,123.00. Following the completion of the sale, the executive vice president now directly owns 5,758 shares of the company's stock, valued at $2,793,033.06. This represents a 60.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Myriam Curet sold 2,401 shares of the firm's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $581.00, for a total transaction of $1,394,981.00. Following the transaction, the executive vice president now directly owns 353 shares in the company, valued at $205,093. This trade represents a 87.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,700 shares of company stock worth $16,865,621 in the last three months. Corporate insiders own 0.70% of the company's stock.

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.