DAVENPORT & Co LLC Increases Stock Holdings in Intuitive Surgical, Inc. $ISRG

DAVENPORT & Co LLC boosted its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 0.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 114,577 shares of the medical equipment provider’s stock after acquiring an additional 850 shares during the period. DAVENPORT & Co LLC’s holdings in Intuitive Surgical were worth $62,014,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Nuveen LLC bought a new stake in Intuitive Surgical during the 1st quarter valued at approximately $1,715,899,000. Goldman Sachs Group Inc. lifted its stake in shares of Intuitive Surgical by 26.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,819,666 shares of the medical equipment provider’s stock valued at $1,396,496,000 after purchasing an additional 584,375 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Intuitive Surgical by 20.1% in 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 purchasing an additional 566,979 shares during the period. Wellington Management Group LLP boosted its position in shares of Intuitive Surgical by 15.0% during the first quarter. Wellington Management Group LLP now owns 3,499,052 shares of the medical equipment provider’s stock valued at $1,732,975,000 after purchasing an additional 457,080 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Intuitive Surgical by 1.4% in the first quarter. Vanguard Group Inc. now owns 32,665,531 shares of the medical equipment provider’s stock worth $16,178,258,000 after purchasing an additional 453,335 shares during the period. 83.64% of the stock is currently owned by institutional investors.

Intuitive Surgical Stock Up 2.1%

NASDAQ ISRG opened at $452.35 on Monday. The company has a 50-day moving average price of $463.55 and a 200-day moving average price of $500.11. Intuitive Surgical, Inc. has a 52 week low of $425.00 and a 52 week high of $616.00. The firm has a market capitalization of $162.16 billion, a P/E ratio of 63.09, a PEG ratio of 4.74 and a beta of 1.61.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings data on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.26. Intuitive Surgical had a net margin of 28.51% and a return on equity of 14.56%. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the firm posted $1.78 earnings per share. The firm’s revenue was up 21.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

Insider Activity

In other Intuitive Surgical news, EVP Myriam Curet sold 4,500 shares of the company’s stock in a transaction dated 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 owned 353 shares in the company, valued at $173,845.44. This represents a 92.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Amy L. Ladd sold 335 shares of Intuitive Surgical stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $440.69, for a total value of $147,631.15. Following the transaction, the director directly owned 739 shares in the company, valued at approximately $325,669.91. The trade was a 31.19% decrease in their ownership of the stock. 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 in the last 90 days. Company insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ISRG shares. Piper Sandler reissued an “overweight” rating and set a $595.00 price objective (up previously from $575.00) on shares of Intuitive Surgical in a research report on Wednesday, July 23rd. UBS Group lifted their price target on shares of Intuitive Surgical from $547.00 to $585.00 and gave the company a “neutral” rating in a research report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of Intuitive Surgical in a research note on Friday, August 22nd. Evercore ISI raised their target price on shares of Intuitive Surgical from $470.00 to $550.00 and gave the company an “in-line” rating in a research note on Tuesday, July 8th. Finally, Wells Fargo & Company boosted their price target on Intuitive Surgical from $559.00 to $599.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Fourteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $594.19.

About Intuitive Surgical

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.