Sands Capital Management LLC Acquires 583,539 Shares of Intuitive Surgical, Inc. $ISRG

Sands Capital Management LLC boosted its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 77.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,341,109 shares of the medical equipment provider’s stock after purchasing an additional 583,539 shares during the quarter. Intuitive Surgical makes up approximately 1.7% of Sands Capital Management LLC’s holdings, making the stock its 24th biggest position. Sands Capital Management LLC owned 0.37% of Intuitive Surgical worth $599,784,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ISRG. Vanguard Group Inc. raised its position in shares of Intuitive Surgical by 0.8% during the third quarter. Vanguard Group Inc. now owns 33,599,661 shares of the medical equipment provider’s stock valued at $15,026,776,000 after buying an additional 263,828 shares during the last quarter. State Street Corp boosted its position in shares of Intuitive Surgical by 1.2% during the second quarter. State Street Corp now owns 15,552,203 shares of the medical equipment provider’s stock worth $8,451,223,000 after acquiring an additional 182,871 shares during the last quarter. Geode Capital Management LLC grew its stake in Intuitive Surgical by 1.4% during the second quarter. Geode Capital Management LLC now owns 8,188,685 shares of the medical equipment provider’s stock valued at $4,429,590,000 after acquiring an additional 109,904 shares in the last quarter. Capital World Investors grew its stake in Intuitive Surgical by 1.5% during the third quarter. Capital World Investors now owns 7,728,492 shares of the medical equipment provider’s stock valued at $3,456,223,000 after acquiring an additional 116,034 shares in the last quarter. Finally, Norges Bank bought a new stake in Intuitive Surgical in the 2nd quarter valued at $2,569,260,000. 83.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on ISRG. Piper Sandler reiterated an “overweight” rating and issued a $620.00 price target (up from $610.00) on shares of Intuitive Surgical in a research note on Friday, January 23rd. Raymond James Financial lifted their target price on Intuitive Surgical from $603.00 to $615.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. The Goldman Sachs Group reiterated a “buy” rating and issued a $714.00 target price on shares of Intuitive Surgical in a research report on Friday, January 9th. Argus dropped their price target on Intuitive Surgical from $630.00 to $560.00 and set a “buy” rating for the company in a research note on Wednesday, February 4th. Finally, Robert W. Baird cut their price target on Intuitive Surgical from $655.00 to $645.00 and set an “outperform” rating for the company in a report on Friday, January 23rd. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $615.86.

Insider Buying and Selling at Intuitive Surgical

In other news, Director Gary S. Guthart sold 2,800 shares of the business’s stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $531.52, for a total transaction of $1,488,256.00. Following the completion of the sale, the director directly owned 15,720 shares of the company’s stock, valued at approximately $8,355,494.40. The trade was a 15.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Myriam Curet sold 421 shares of the company’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $494.96, for a total transaction of $208,378.16. Following the completion of the transaction, the executive vice president owned 409 shares in the company, valued at approximately $202,438.64. The trade was a 50.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 37,802 shares of company stock valued at $19,945,322. 0.70% of the stock is owned by company insiders.

Intuitive Surgical Trading Down 1.6%

Intuitive Surgical stock opened at $485.85 on Wednesday. Intuitive Surgical, Inc. has a 12-month low of $425.00 and a 12-month high of $603.88. The firm has a 50-day moving average price of $518.26 and a 200-day moving average price of $512.74. The firm has a market capitalization of $172.54 billion, a PE ratio of 61.58, a price-to-earnings-growth ratio of 3.81 and a beta of 1.66.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings results on Thursday, January 22nd. The medical equipment provider reported $2.53 EPS for the quarter, beating the consensus estimate of $2.27 by $0.26. The company had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.72 billion. Intuitive Surgical had a net margin of 28.38% and a return on equity of 15.06%. The firm’s revenue was up 18.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.21 EPS. As a group, sell-side analysts predict that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

About Intuitive Surgical

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.