Financiere des Professionnels Fonds d investissement inc. Takes $5.12 Million Position in Intuitive Surgical, Inc. $ISRG

Financiere des Professionnels Fonds d investissement inc. purchased a new stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) in the first quarter, Holdings Channel.com reports. The firm purchased 11,109 shares of the medical equipment provider’s stock, valued at approximately $5,121,000.

A number of other hedge funds have also recently added to or reduced their stakes in ISRG. Holos Integrated Wealth LLC bought a new position in shares of Intuitive Surgical in the fourth quarter worth about $25,000. Newbridge Financial Services Group Inc. grew its stake in shares of Intuitive Surgical by 300.0% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 33 shares during the last quarter. Olistico Wealth LLC acquired a new stake in shares of Intuitive Surgical in the fourth quarter valued at approximately $28,000. Laurel Wealth Advisors LLC acquired a new stake in shares of Intuitive Surgical in the fourth quarter valued at approximately $31,000. Finally, Vermillion Wealth Management Inc. raised its position in Intuitive Surgical by 58.1% in the 1st quarter. Vermillion Wealth Management Inc. now owns 68 shares of the medical equipment provider’s stock worth $31,000 after purchasing an additional 25 shares during the last quarter. Institutional investors own 83.64% of the company’s stock.

Key Headlines Impacting Intuitive Surgical

Here are the key news stories impacting Intuitive Surgical this week:

• Positive Sentiment: Q2 earnings and revenue came in ahead of Wall Street expectations, supported by strong demand for Intuitive’s robotic surgical systems. Reuters: Intuitive Surgical beats quarterly estimates on strong demand for its robotic systems
• Positive Sentiment: Worldwide procedure volume continued to grow at a healthy pace, with da Vinci procedures up about 15% and Ion procedures up about 36%, reinforcing the company’s growth story. Yahoo Finance: Intuitive Announces Second Quarter Earnings
• Positive Sentiment: Analyst coverage remained constructive, with Truist still rating the stock Buy even after trimming its price target to $510 from $580. Benzinga/Truist note

Intuitive Surgical Stock Performance

ISRG opened at $402.33 on Friday. The firm’s fifty day moving average is $417.37 and its two-hundred day moving average is $468.74. The firm has a market cap of $142.49 billion, a PE ratio of 48.77, a price-to-earnings-growth ratio of 3.16 and a beta of 1.46. Intuitive Surgical, Inc. has a twelve month low of $378.50 and a twelve month high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.42. The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.62 billion. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The firm’s revenue was up 23.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.81 EPS. Equities analysts forecast that Intuitive Surgical, Inc. will post 8.57 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Amy L. Ladd sold 119 shares of the business’s stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $463.50, for a total value of $55,156.50. Following the completion of the transaction, the director directly owned 120 shares in the company, valued at approximately $55,620. The trade was a 49.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total value of $169,656.00. Following the sale, the executive vice president directly owned 5,720 shares of the company’s stock, valued at approximately $2,426,080.80. The trade was a 6.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 7,169 shares of company stock worth $3,059,135 over the last ninety days. 0.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ISRG has been the topic of several research reports. Piper Sandler reaffirmed an “overweight” rating and set a $580.00 price objective on shares of Intuitive Surgical in a report on Tuesday, June 2nd. The Goldman Sachs Group set a $558.00 target price on Intuitive Surgical in a research note on Wednesday, May 27th. Jefferies Financial Group dropped their target price on Intuitive Surgical from $560.00 to $515.00 and set a “hold” rating for the company in a research report on Wednesday, April 22nd. BTIG Research set a $512.00 price target on Intuitive Surgical in a report on Monday. Finally, Barclays set a $651.00 price objective on Intuitive Surgical and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $562.62.

Intuitive Surgical Company Profile

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.