Employees Provident Fund Board Purchases Shares of 438,533 Intuitive Surgical, Inc. $ISRG

Employees Provident Fund Board bought a new position in Intuitive Surgical, Inc. (NASDAQ:ISRG) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 438,533 shares of the medical equipment provider’s stock, valued at approximately $248,368,000. Intuitive Surgical accounts for 1.8% of Employees Provident Fund Board’s investment portfolio, making the stock its 19th biggest holding.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Intuitive Surgical during the fourth quarter worth $2,856,987,000. J. Stern & Co. LLP boosted its holdings in Intuitive Surgical by 18,504.6% in the fourth quarter. J. Stern & Co. LLP now owns 2,127,248 shares of the medical equipment provider’s stock valued at $1,204,788,000 after acquiring an additional 2,115,814 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Intuitive Surgical by 1,043.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,342,121 shares of the medical equipment provider’s stock worth $760,124,000 after buying an additional 1,224,734 shares during the last quarter. Polen Capital Management LLC bought a new stake in shares of Intuitive Surgical during the 4th quarter valued at $477,225,000. Finally, Assenagon Asset Management S.A. lifted its stake in Intuitive Surgical by 106.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,533,771 shares of the medical equipment provider’s stock valued at $868,667,000 after buying an additional 791,516 shares during the period. 83.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Bank of America cut their target price on shares of Intuitive Surgical from $520.00 to $515.00 in a report on Friday, June 12th. Truist Financial decreased their price target on shares of Intuitive Surgical from $650.00 to $580.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th. Zacks Research downgraded Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. UBS Group dropped their price target on shares of Intuitive Surgical from $570.00 to $550.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 17th. Finally, JPMorgan Chase & Co. reduced their target price 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. Nineteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Intuitive Surgical presently has a consensus rating of “Moderate Buy” and a consensus target price of $573.42.

Intuitive Surgical Price Performance

Shares of ISRG opened at $406.78 on Friday. Intuitive Surgical, Inc. has a one year low of $396.68 and a one year high of $603.88. The company has a market cap of $144.07 billion, a P/E ratio of 49.31, a P/E/G ratio of 3.31 and a beta of 1.46. The firm has a 50 day simple moving average of $438.43 and a two-hundred day simple moving average of $490.46.

Intuitive Surgical (NASDAQ:ISRG) last released its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.42. The firm had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.62 billion. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The business’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.81 earnings per share. On average, analysts expect that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Intuitive Surgical news, SVP Iman Jeddi sold 5,625 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $420.55, for a total value of $2,365,593.75. Following the completion of the transaction, the senior vice president owned 6,463 shares of the company’s stock, valued at $2,718,014.65. This represents a 46.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $424.14, for a total transaction of $169,656.00. Following the completion of the transaction, the executive vice president owned 5,720 shares of the company’s stock, valued at approximately $2,426,080.80. This trade represents a 6.54% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 7,169 shares of company stock valued at $3,059,135 in the last 90 days. Corporate 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.