USA Financial Formulas Boosts Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

USA Financial Formulas increased its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 90.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,476 shares of the medical equipment provider's stock after buying an additional 2,128 shares during the period. Intuitive Surgical accounts for 0.4% of USA Financial Formulas' holdings, making the stock its 16th biggest holding. USA Financial Formulas' holdings in Intuitive Surgical were worth $2,217,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Intuitive Surgical by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 32,212,196 shares of the medical equipment provider's stock valued at $16,813,478,000 after buying an additional 360,591 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Intuitive Surgical by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 7,756,727 shares of the medical equipment provider's stock valued at $4,039,200,000 after buying an additional 243,802 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Intuitive Surgical by 1.8% during the fourth quarter. Fisher Asset Management LLC now owns 4,868,869 shares of the medical equipment provider's stock worth $2,541,356,000 after purchasing an additional 86,488 shares during the last quarter. Norges Bank bought a new stake in Intuitive Surgical in the 4th quarter worth about $2,401,493,000. Finally, Invesco Ltd. grew its position in Intuitive Surgical by 7.7% in the 4th quarter. Invesco Ltd. now owns 4,148,180 shares of the medical equipment provider's stock worth $2,165,184,000 after purchasing an additional 295,025 shares in the last quarter. Institutional investors own 83.64% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on ISRG. Erste Group Bank raised shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a research report on Thursday, June 5th. Piper Sandler reduced their price objective on shares of Intuitive Surgical from $670.00 to $575.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Robert W. Baird dropped their target price 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. Citigroup reiterated a "buy" rating and issued a $650.00 target price (up from $590.00) on shares of Intuitive Surgical in a research note on Thursday, May 22nd. Finally, Barclays dropped their target price on shares of Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, Intuitive Surgical has a consensus rating of "Moderate Buy" and a consensus price target of $588.95.

Intuitive Surgical Stock Performance

ISRG stock traded down $9.41 during mid-day trading on Thursday, reaching $513.00. 2,390,381 shares of the stock traded hands, compared to its average volume of 1,668,728. Intuitive Surgical, Inc. has a one year low of $413.82 and a one year high of $616.00. The stock has a market capitalization of $183.87 billion, a PE ratio of 80.03, a PEG ratio of 5.85 and a beta of 1.67. The business has a 50-day moving average price of $525.48 and a two-hundred day moving average price of $538.67.

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

Insider Transactions at Intuitive Surgical

In other news, SVP Mark Brosius sold 216 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 907 shares in the company, valued at approximately $510,740.77. This trade represents a 19.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jami K. Nachtsheim sold 2,400 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $520.00, for a total transaction of $1,248,000.00. Following the transaction, the director now owns 6,371 shares in the company, valued at approximately $3,312,920. This represents a 27.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,998 shares of company stock worth $2,611,577. Insiders own 0.70% of the company's stock.

Intuitive Surgical Company 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.