Tredje AP fonden Buys 93,900 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Tredje AP fonden boosted its Intuitive Surgical stake by 120.5% in the fourth quarter, buying 93,900 additional shares and bringing its total holding to 171,811 shares worth about $97.3 million.
• Intuitive Surgical reported strong quarterly results, with EPS of $2.50 beating estimates and revenue of $2.77 billion topping forecasts; revenue rose 23% year over year.
• Analyst sentiment remains generally positive, with 19 Buy ratings and a consensus Moderate Buy rating, though some firms have trimmed price targets as the stock trades well below its 52-week high.

Tredje AP fonden raised its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 120.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 171,811 shares of the medical equipment provider's stock after purchasing an additional 93,900 shares during the period. Tredje AP fonden's holdings in Intuitive Surgical were worth $97,307,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Newbridge Financial Services Group Inc. grew its holdings in Intuitive Surgical by 300.0% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider's stock valued at $25,000 after purchasing an additional 33 shares during the period. Holos Integrated Wealth LLC bought a new stake in Intuitive Surgical during the fourth quarter valued at about $25,000. Olistico Wealth LLC bought a new stake in Intuitive Surgical during the fourth quarter valued at about $28,000. Laurel Wealth Advisors LLC bought a new stake in Intuitive Surgical during the fourth quarter valued at about $31,000. Finally, Turning Point Benefit Group Inc. grew its holdings in Intuitive Surgical by 833.3% during the fourth quarter. Turning Point Benefit Group Inc. now owns 56 shares of the medical equipment provider's stock valued at $32,000 after purchasing an additional 50 shares during the period. Institutional investors own 83.64% of the company's stock.

Intuitive Surgical Stock Up 4.5%

NASDAQ ISRG opened at $439.92 on Tuesday. The firm has a market cap of $155.80 billion, a price-to-earnings ratio of 53.32, a price-to-earnings-growth ratio of 3.36 and a beta of 1.51. The business has a 50-day moving average price of $462.50 and a 200-day moving average price of $513.03. Intuitive Surgical, Inc. has a twelve month low of $417.74 and a twelve month high of $603.88.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, topping analysts' consensus estimates of $2.08 by $0.42. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.62 billion. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The business's quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.81 earnings per share. Research analysts expect that Intuitive Surgical, Inc. will post 8.57 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on ISRG. Citigroup raised Intuitive Surgical from a "neutral" rating to a "buy" rating and set a $590.00 price objective for the company in a research note on Wednesday, March 11th. BTIG Research reaffirmed a "buy" rating and issued a $574.00 price objective on shares of Intuitive Surgical in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. dropped their price objective on Intuitive Surgical from $625.00 to $550.00 and set an "overweight" rating for the company in a research note on Wednesday, April 22nd. Evercore dropped their price objective on Intuitive Surgical from $550.00 to $480.00 and set a "neutral" rating for the company in a research note on Monday, April 6th. Finally, Truist Financial dropped their price objective on Intuitive Surgical from $650.00 to $580.00 and set a "buy" rating for the company in a research note on Wednesday, April 15th. Nineteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $579.33.

Insider Buying and Selling

In related news, Director Amy L. Ladd sold 119 shares of the business's stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $463.50, for a total value of $55,156.50. Following the sale, the director directly owned 120 shares in the company, valued at approximately $55,620. The trade was a 49.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark Brosius sold 645 shares of the business's stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $485.01, for a total value of $312,831.45. Following the completion of the sale, the senior vice president owned 1,613 shares in the company, valued at $782,321.13. This represents a 28.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 5,647 shares of company stock valued at $2,760,359 in the last ninety days. Company insiders own 0.60% of the company's stock.

Intuitive Surgical Profile

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon's hand movements into finer, scaled motions of small instruments inside the patient. Intuitive's business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.

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