Lord Abbett & CO. LLC Grows Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Lord Abbett & CO. LLC grew its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 11.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 314,437 shares of the medical equipment provider’s stock after purchasing an additional 31,978 shares during the period. Lord Abbett & CO. LLC owned about 0.09% of Intuitive Surgical worth $155,731,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. AlphaCore Capital LLC increased its stake in Intuitive Surgical by 4.2% in the fourth quarter. AlphaCore Capital LLC now owns 451 shares of the medical equipment provider’s stock worth $235,000 after purchasing an additional 18 shares during the period. Second Line Capital LLC increased its stake in shares of Intuitive Surgical by 3.4% during the fourth quarter. Second Line Capital LLC now owns 578 shares of the medical equipment provider’s stock valued at $302,000 after buying an additional 19 shares during the period. Colonial Trust Co SC increased its stake in shares of Intuitive Surgical by 8.8% during the fourth quarter. Colonial Trust Co SC now owns 246 shares of the medical equipment provider’s stock valued at $128,000 after buying an additional 20 shares during the period. Crown Wealth Group LLC increased its stake in shares of Intuitive Surgical by 4.8% during the first quarter. Crown Wealth Group LLC now owns 440 shares of the medical equipment provider’s stock valued at $218,000 after buying an additional 20 shares during the period. Finally, FSM Wealth Advisors LLC increased its stake in shares of Intuitive Surgical by 3.8% during the first quarter. FSM Wealth Advisors LLC now owns 546 shares of the medical equipment provider’s stock valued at $270,000 after buying an additional 20 shares during the period. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Stock Performance

Shares of NASDAQ ISRG opened at $482.35 on Thursday. The company has a market cap of $172.91 billion, a PE ratio of 67.27, a P/E/G ratio of 5.01 and a beta of 1.59. The business has a 50-day simple moving average of $511.91 and a two-hundred day simple moving average of $526.80. Intuitive Surgical, Inc. has a fifty-two week low of $425.00 and a fifty-two week high of $616.00.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ISRG shares. Royal Bank Of Canada raised their price target on Intuitive Surgical from $605.00 to $615.00 and gave the company an “outperform” rating in a research note on Wednesday, July 23rd. BTIG Research raised their price target on Intuitive Surgical from $566.00 to $571.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Piper Sandler restated an “overweight” rating and set a $595.00 price target (up previously from $575.00) on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. Erste Group Bank restated a “hold” rating on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. Finally, Truist Financial raised their price target on Intuitive Surgical from $590.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $595.95.

Insider Buying and Selling

In related news, EVP Myriam Curet sold 4,500 shares of Intuitive Surgical stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $492.48, for a total transaction of $2,216,160.00. Following the completion of the transaction, the executive vice president directly owned 353 shares in the company, valued at approximately $173,845.44. This trade represents a 92.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gary S. Guthart sold 2,800 shares of Intuitive Surgical stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $495.24, for a total value of $1,386,672.00. Following the transaction, the insider owned 18,520 shares of the company’s stock, valued at approximately $9,171,844.80. This represents a 13.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,859 shares of company stock valued at $7,908,248 over the last quarter. 0.70% of the stock is currently owned by company insiders.

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.