Capital Investment Services of America Inc. Acquires New Holdings in Intuitive Surgical, Inc. $ISRG

Capital Investment Services of America Inc. purchased a new stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 30,207 shares of the medical equipment provider’s stock, valued at approximately $12,283,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of America Corp DE raised its position in Intuitive Surgical by 3.3% in the first quarter. Bank of America Corp DE now owns 3,616,973 shares of the medical equipment provider’s stock worth $1,667,388,000 after acquiring an additional 116,292 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Intuitive Surgical in the second quarter valued at about $1,335,753,000. Amundi grew its holdings in Intuitive Surgical by 8.6% during the 1st quarter. Amundi now owns 2,428,356 shares of the medical equipment provider’s stock valued at $1,119,448,000 after buying an additional 193,096 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Intuitive Surgical by 95.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,105,544 shares of the medical equipment provider’s stock worth $970,635,000 after purchasing an additional 1,027,475 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in Intuitive Surgical by 10.8% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,893,485 shares of the medical equipment provider’s stock worth $769,948,000 after acquiring an additional 184,044 shares during the period. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Intuitive Surgical Price Performance

Shares of NASDAQ:ISRG opened at $482.10 on Thursday. The business has a 50-day moving average of $406.25 and a two-hundred day moving average of $432.60. The stock has a market capitalization of $167.12 billion, a P/E ratio of 49.41, a P/E/G ratio of 3.04 and a beta of 1.45. Intuitive Surgical, Inc. has a fifty-two week low of $328.57 and a fifty-two week high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Tuesday, October 20th. The medical equipment provider reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.35. The business had revenue of $3.05 billion for the quarter, compared to analyst estimates of $2.91 billion. Intuitive Surgical had a net margin of 25.54% and a return on equity of 18.17%. The firm’s revenue was up 21.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.40 EPS. As a group, research analysts expect that Intuitive Surgical, Inc. will post 9.37 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ISRG. Barclays restated an “overweight” rating and set a $500.00 target price (up from $485.00) on shares of Intuitive Surgical in a research note on Wednesday, October 21st. UBS Group reissued a “buy” rating on shares of Intuitive Surgical in a report on Tuesday, October 13th. Raymond James Financial reissued an “outperform” rating and issued a $480.00 price target on shares of Intuitive Surgical in a report on Wednesday, October 21st. Wells Fargo & Company reiterated an “overweight” rating and issued a $486.00 price objective (down from $487.00) on shares of Intuitive Surgical in a research report on Wednesday, October 21st. Finally, Truist Financial reduced their price target on Intuitive Surgical from $580.00 to $510.00 and set a “buy” rating for the company in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $493.54.

Insiders Place Their Bets

In other news, Director Craig H. Barratt sold 1,150 shares of the business’s stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $443.80, for a total value of $510,370.00. Following the sale, the director directly owned 1,150 shares in the company, valued at $510,370. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gary S. Guthart sold 20,095 shares of the firm’s stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $451.61, for a total transaction of $9,075,102.95. Following the completion of the transaction, the director directly owned 1,204,530 shares of the company’s stock, valued at approximately $543,977,793.30. This trade represents a 1.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 38,778 shares of company stock worth $16,814,967 over the last ninety days. Company insiders own 0.60% of the company’s stock.

Intuitive Surgical Company Profile

Intuitive Surgical, Inc develops and manufactures robotic-assisted systems and related technologies for minimally invasive surgery. Its products are designed to help surgeons perform procedures through small incisions while providing enhanced visualization, precision and control. The company’s primary platform is the da Vinci Surgical System, which is used across a range of specialties, including urology, gynecology, general surgery, cardiothoracic surgery and other procedures.

The company also offers the Ion endoluminal system, which is designed to support minimally invasive lung biopsy procedures.