Novem Group Purchases 61 Shares of Intuitive Surgical, Inc. $ISRG

Novem Group boosted its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 7.8% during the second quarter, HoldingsChannel reports. The fund owned 845 shares of the medical equipment provider’s stock after buying an additional 61 shares during the quarter. Novem Group’s holdings in Intuitive Surgical were worth $459,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Embree Financial Group bought a new stake in shares of Intuitive Surgical during the second quarter valued at about $221,000. EdgeRock Capital LLC increased its position in shares of Intuitive Surgical by 9.5% during the second quarter. EdgeRock Capital LLC now owns 574 shares of the medical equipment provider’s stock valued at $311,000 after buying an additional 50 shares during the period. Patron Partners LLC increased its position in shares of Intuitive Surgical by 6.0% during the second quarter. Patron Partners LLC now owns 2,234 shares of the medical equipment provider’s stock valued at $1,214,000 after buying an additional 126 shares during the period. CX Institutional increased its position in shares of Intuitive Surgical by 3.1% during the second quarter. CX Institutional now owns 1,931 shares of the medical equipment provider’s stock valued at $1,049,000 after buying an additional 58 shares during the period. Finally, Congress Asset Management Co. increased its position in shares of Intuitive Surgical by 0.9% during the second quarter. Congress Asset Management Co. now owns 315,555 shares of the medical equipment provider’s stock valued at $171,476,000 after buying an additional 2,847 shares during the period. 83.64% of the stock is currently owned by institutional investors.

Intuitive Surgical Trading Up 0.7%

Shares of NASDAQ ISRG opened at $441.12 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 $158.13 billion, a price-to-earnings ratio of 61.52, a PEG ratio of 4.59 and a beta of 1.61. The business has a 50-day moving average of $469.43 and a 200-day moving average of $501.46.

Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.26. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.35 billion. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%.Intuitive Surgical’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.78 earnings per share. On average, analysts predict that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Insiders Place Their Bets

In other Intuitive Surgical news, insider Gary S. Guthart sold 29,360 shares of the company’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $472.49, for a total value of $13,872,306.40. Following the completion of the sale, the insider owned 19,827 shares of the company’s stock, valued at $9,368,059.23. This represents a 59.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Myriam Curet sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $492.48, for a total value of $2,216,160.00. Following the completion of the sale, the executive vice president directly owned 353 shares of the company’s stock, valued at approximately $173,845.44. This represents a 92.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,224 shares of company stock valued at $21,716,492 over the last quarter. 0.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ISRG has been the topic of several analyst reports. UBS Group upped their price target on Intuitive Surgical from $547.00 to $585.00 and gave the company a “neutral” rating in a research report on Wednesday, July 23rd. Truist Financial upped their price target on Intuitive Surgical from $590.00 to $600.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Evercore ISI upped their price target on Intuitive Surgical from $470.00 to $550.00 and gave the company an “in-line” rating in a research report on Tuesday, July 8th. Wall Street Zen cut Intuitive Surgical from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $615.00 price objective on shares of Intuitive Surgical in a report on Tuesday, August 19th. Thirteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $595.95.

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.