Munro Partners Takes $65.70 Million Position in Intuitive Surgical, Inc. $ISRG

Munro Partners bought a new position in Intuitive Surgical, Inc. (NASDAQ:ISRG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 120,910 shares of the medical equipment provider’s stock, valued at approximately $65,704,000. Intuitive Surgical comprises about 2.1% of Munro Partners’ portfolio, making the stock its 21st biggest position.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Norway Savings Bank lifted its stake in shares of Intuitive Surgical by 53.4% in the second quarter. Norway Savings Bank now owns 2,613 shares of the medical equipment provider’s stock valued at $1,420,000 after buying an additional 910 shares during the period. Trust Co. of Oklahoma acquired a new position in Intuitive Surgical in the 2nd quarter valued at approximately $363,000. IronOak Wealth LLC. bought a new stake in shares of Intuitive Surgical in the 2nd quarter worth approximately $1,099,000. Eastover Investment Advisors LLC lifted its position in shares of Intuitive Surgical by 204.8% in the 2nd quarter. Eastover Investment Advisors LLC now owns 13,163 shares of the medical equipment provider’s stock worth $7,153,000 after acquiring an additional 8,844 shares during the period. Finally, Amalgamated Bank grew its holdings in shares of Intuitive Surgical by 2.2% during the 2nd quarter. Amalgamated Bank now owns 81,542 shares of the medical equipment provider’s stock worth $44,311,000 after purchasing an additional 1,772 shares in the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.

Intuitive Surgical Stock Down 0.9%

Shares of Intuitive Surgical stock opened at $542.32 on Friday. Intuitive Surgical, Inc. has a 12-month low of $425.00 and a 12-month high of $616.00. The stock has a market capitalization of $194.41 billion, a P/E ratio of 71.74, a price-to-earnings-growth ratio of 4.98 and a beta of 1.68. The company has a 50-day simple moving average of $529.62 and a 200 day simple moving average of $505.69.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings data on Tuesday, October 21st. The medical equipment provider reported $2.40 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.41. Intuitive Surgical had a net margin of 28.58% and a return on equity of 15.08%. The firm had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the prior year, the firm earned $1.84 earnings per share. The company’s quarterly revenue was up 22.9% compared to the same quarter last year. On average, equities analysts anticipate that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. HSBC upped their target price on Intuitive Surgical from $595.00 to $644.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Leerink Partners increased their price objective on shares of Intuitive Surgical from $593.00 to $600.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Robert W. Baird set a $655.00 target price on shares of Intuitive Surgical in a research report on Wednesday, October 22nd. Truist Financial set a $620.00 target price on shares of Intuitive Surgical and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Finally, Royal Bank Of Canada set a $625.00 price target on shares of Intuitive Surgical and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $608.79.

Insider Activity

In other news, EVP Myriam Curet sold 104 shares of the stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $559.90, for a total transaction of $58,229.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Craig H. Barratt sold 750 shares of Intuitive Surgical stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $580.00, for a total value of $435,000.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 109,043 shares of company stock worth $60,816,225. 0.70% of the stock is currently owned by insiders.

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.