Intuitive Surgical, Inc. $ISRG Stock: Northeast Investment Management Decreases Stake

Northeast Investment Management lessened its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 12.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 74,780 shares of the medical equipment provider’s stock after selling 10,586 shares during the quarter. Intuitive Surgical makes up 1.1% of Northeast Investment Management’s portfolio, making the stock its 26th largest holding. Northeast Investment Management’s holdings in Intuitive Surgical were worth $30,408,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp purchased a new stake in shares of Intuitive Surgical in the 2nd quarter worth $1,335,753,000. Arrowstreet Capital Limited Partnership raised its holdings in Intuitive Surgical by 95.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,105,544 shares of the medical equipment provider’s stock worth $970,635,000 after purchasing an additional 1,027,475 shares during the period. Assenagon Asset Management S.A. lifted its position in Intuitive Surgical by 55.8% during the third quarter. Assenagon Asset Management S.A. now owns 1,557,940 shares of the medical equipment provider’s stock valued at $633,505,000 after purchasing an additional 558,099 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Intuitive Surgical during the third quarter valued at $136,743,000. Finally, Amundi grew its holdings in Intuitive Surgical by 8.6% during the first quarter. Amundi now owns 2,428,356 shares of the medical equipment provider’s stock valued at $1,119,448,000 after purchasing an additional 193,096 shares during the period. Institutional investors own 83.64% of the company’s stock.

Analyst Ratings Changes

ISRG has been the subject of a number of analyst reports. Wells Fargo & Company restated an “overweight” rating and issued a $486.00 price target (down from $487.00) on shares of Intuitive Surgical in a research report on Wednesday, October 21st. Raymond James Financial reaffirmed an “outperform” rating and set a $480.00 price objective on shares of Intuitive Surgical in a research report on Wednesday, October 21st. Truist Financial cut their price objective on Intuitive Surgical from $580.00 to $510.00 and set a “buy” rating for the company in a research note on Thursday, July 16th. Mizuho reduced their target price on shares of Intuitive Surgical from $415.00 to $400.00 and set a “neutral” rating for the company in a report on Wednesday, October 21st. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Intuitive Surgical in a research note on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $493.54.

Intuitive Surgical Stock Performance

ISRG opened at $482.10 on Thursday. Intuitive Surgical, Inc. has a fifty-two week low of $328.57 and a fifty-two week high of $603.88. The company has a fifty day moving average of $406.25 and a 200 day moving average of $432.60. The stock has a market capitalization of $167.12 billion, a price-to-earnings ratio of 58.30, a PEG ratio of 3.04 and a beta of 1.45.

Intuitive Surgical (NASDAQ:ISRG) last posted its earnings results on Tuesday, October 20th. The medical equipment provider reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.65 by $0.35. Intuitive Surgical had a return on equity of 18.17% and a net margin of 25.54%. The company had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $2.91 billion. During the same period in the previous year, the business earned $2.40 earnings per share. The firm’s revenue for the quarter was up 21.7% on a year-over-year basis. On average, equities research analysts forecast that Intuitive Surgical, Inc. will post 9.37 earnings per share for the current year.

Insider Activity

In other Intuitive Surgical news, Director Craig H. Barratt sold 1,150 shares of the company’s stock in a transaction that occurred on Friday, October 23rd. The stock was sold at an average price of $443.80, for a total transaction of $510,370.00. Following the sale, the director directly owned 1,150 shares in the company, valued at $510,370. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Patricia L. Wadors sold 1,078 shares of the company’s stock in a transaction that occurred on Friday, October 23rd. The shares were sold at an average price of $443.80, for a total value of $478,416.40. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 38,778 shares of company stock worth $16,814,967. 0.60% of the stock is owned by insiders.

About Intuitive Surgical

Intuitive Surgical, Inc develops and manufactures robotic-assisted systems and related technologies for minimally invasive surgery. Its products are designed to help surgeons perform procedures through small incisions while providing enhanced visualization, precision and control. The company’s primary platform is the da Vinci Surgical System, which is used across a range of specialties, including urology, gynecology, general surgery, cardiothoracic surgery and other procedures.

The company also offers the Ion endoluminal system, which is designed to support minimally invasive lung biopsy procedures.