Retirement Systems of Alabama Grows Position in Intuitive Surgical, Inc. $ISRG

Retirement Systems of Alabama raised its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 19.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 207,942 shares of the medical equipment provider’s stock after purchasing an additional 34,236 shares during the quarter. Retirement Systems of Alabama owned about 0.06% of Intuitive Surgical worth $117,770,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Holos Integrated Wealth LLC purchased a new stake in shares of Intuitive Surgical during the fourth quarter valued at $25,000. Kilter Group LLC acquired a new position in shares of Intuitive Surgical in the 2nd quarter valued at $27,000. Greykasell Wealth Strategies Inc. purchased a new position in Intuitive Surgical in the 3rd quarter worth $27,000. Olistico Wealth LLC purchased a new position in Intuitive Surgical in the 4th quarter worth $28,000. Finally, Caitlin John LLC acquired a new stake in Intuitive Surgical during the 3rd quarter worth about $30,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Stock Up 0.0%

Shares of ISRG opened at $452.77 on Tuesday. The company has a market capitalization of $160.79 billion, a price-to-earnings ratio of 57.39, a PEG ratio of 3.49 and a beta of 1.66. Intuitive Surgical, Inc. has a 52 week low of $425.00 and a 52 week high of $603.88. The stock’s 50-day moving average price is $492.86 and its 200-day moving average price is $513.66.

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

Insider Activity

In other news, SVP Mark Brosius sold 2,362 shares of Intuitive Surgical stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $498.68, for a total transaction of $1,177,882.16. Following the completion of the transaction, the senior vice president directly owned 3,554 shares of the company’s stock, valued at $1,772,308.72. The trade was a 39.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Patricia L. Wadors sold 220 shares of the business’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $499.71, for a total transaction of $109,936.20. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 32,943 shares of company stock worth $17,279,568. 0.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ISRG has been the topic of a number of research reports. Robert W. Baird cut their price objective on Intuitive Surgical from $655.00 to $645.00 and set an “outperform” rating on the stock in a report on Friday, January 23rd. Wall Street Zen lowered Intuitive Surgical from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Piper Sandler reiterated an “overweight” rating and issued a $620.00 price target (up from $610.00) on shares of Intuitive Surgical in a report on Friday, January 23rd. Royal Bank Of Canada raised their price target on shares of Intuitive Surgical from $625.00 to $650.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 17th. Finally, Sanford C. Bernstein lifted their price objective on shares of Intuitive Surgical from $740.00 to $750.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $614.95.

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.