Engineers Gate Manager LP Grows Position in Intuitive Surgical, Inc. $ISRG

Engineers Gate Manager LP boosted its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 298.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 52,668 shares of the medical equipment provider’s stock after acquiring an additional 39,440 shares during the period. Engineers Gate Manager LP’s holdings in Intuitive Surgical were worth $28,620,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Intuitive Surgical in the second quarter worth approximately $2,569,260,000. Vanguard Group Inc. grew its position in Intuitive Surgical by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 33,335,833 shares of the medical equipment provider’s stock worth $18,115,025,000 after purchasing an additional 670,302 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Intuitive Surgical by 20.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,393,951 shares of the medical equipment provider’s stock valued at $1,680,922,000 after buying an additional 566,979 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Intuitive Surgical by 20.4% in the 2nd quarter. Jennison Associates LLC now owns 3,122,390 shares of the medical equipment provider’s stock worth $1,696,738,000 after buying an additional 528,359 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Intuitive Surgical by 15.0% in the 1st quarter. Wellington Management Group LLP now owns 3,499,052 shares of the medical equipment provider’s stock worth $1,732,975,000 after buying an additional 457,080 shares during the last quarter. Institutional investors own 83.64% of the company’s stock.

Insider Buying and Selling

In other news, CEO David J. Rosa sold 24,500 shares of the business’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $547.55, for a total value of $13,414,975.00. Following the transaction, the chief executive officer directly owned 234,256 shares in the company, valued at $128,266,872.80. The trade was a 9.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Brian Edward Miller sold 3,500 shares of the stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $575.00, for a total value of $2,012,500.00. Following the sale, the executive vice president owned 5,758 shares of the company’s stock, valued at $3,310,850. This represents a 37.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 109,043 shares of company stock worth $60,816,225 in the last three months. Corporate insiders own 0.70% of the company’s stock.

Intuitive Surgical Trading Down 0.9%

Intuitive Surgical stock opened at $542.32 on Friday. Intuitive Surgical, Inc. has a 12-month low of $425.00 and a 12-month high of $616.00. The firm has a market capitalization of $194.41 billion, a price-to-earnings ratio of 71.74, a P/E/G ratio of 5.03 and a beta of 1.68. The firm has a 50 day moving average of $529.62 and a 200 day moving average of $506.00.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings results on Tuesday, October 21st. The medical equipment provider reported $2.40 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.41. The business had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.41 billion. Intuitive Surgical had a net margin of 28.58% and a return on equity of 15.08%. The company’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.84 earnings per share. On average, analysts predict that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ISRG shares. Truist Financial set a $620.00 target price on Intuitive Surgical and gave the company a “buy” rating in a report on Wednesday, October 22nd. UBS Group set a $600.00 price objective on shares of Intuitive Surgical and gave the stock a “neutral” rating in a research note on Thursday, October 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Intuitive Surgical in a report on Friday, October 31st. Robert W. Baird set a $655.00 target price on shares of Intuitive Surgical in a research report on Wednesday, October 22nd. Finally, Raymond James Financial set a $603.00 price target on shares of Intuitive Surgical and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Intuitive Surgical currently has an average rating of “Moderate Buy” and an average target price of $608.79.

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.