Riverbridge Partners LLC Buys 75,148 Shares of Intuitive Surgical, Inc. $ISRG

Riverbridge Partners LLC purchased a new position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 75,148 shares of the medical equipment provider’s stock, valued at approximately $30,557,000.

Other institutional investors have also recently made changes to their positions in the company. Bank of America Corp DE raised its holdings in shares of Intuitive Surgical by 3.3% in the first quarter. Bank of America Corp DE now owns 3,616,973 shares of the medical equipment provider’s stock valued at $1,667,388,000 after acquiring an additional 116,292 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Intuitive Surgical during the 2nd quarter worth about $1,335,753,000. Amundi grew its holdings in Intuitive Surgical by 8.6% during the 1st quarter. Amundi now owns 2,428,356 shares of the medical equipment provider’s stock worth $1,119,448,000 after acquiring an additional 193,096 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Intuitive Surgical by 95.3% during 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 acquiring an additional 1,027,475 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in Intuitive Surgical by 10.8% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,893,485 shares of the medical equipment provider’s stock valued at $769,948,000 after purchasing an additional 184,044 shares during the period. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Price Performance

Shares of ISRG stock opened at $450.04 on Wednesday. Intuitive Surgical, Inc. has a 1-year low of $328.57 and a 1-year high of $603.88. The stock’s 50-day moving average is $413.15 and its 200 day moving average is $431.20. The company has a market cap of $156.00 billion, a P/E ratio of 54.42, a PEG ratio of 3.17 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.65 by $0.35. The company had revenue of $3.05 billion for the quarter, compared to analyst estimates of $2.91 billion. Intuitive Surgical had a return on equity of 18.17% and a net margin of 25.54%. The firm’s quarterly revenue was up 21.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.40 earnings per share. On average, analysts anticipate that Intuitive Surgical, Inc. will post 9.37 EPS for the current year.

Insider Buying and Selling at Intuitive Surgical

In other news, VP Fredrik Widman sold 4,047 shares of Intuitive Surgical stock in a transaction that occurred on Friday, October 23rd. The shares were sold at an average price of $453.21, for a total value of $1,834,140.87. Following the transaction, the vice president owned 1,026 shares of the company’s stock, valued at $464,993.46. The trade was a 79.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Brosius sold 61 shares of the business’s stock in a transaction that occurred on Wednesday, October 28th. The stock was sold at an average price of $441.60, for a total transaction of $26,937.60. Following the transaction, the executive vice president owned 581 shares of the company’s stock, valued at approximately $256,569.60. This trade represents a 9.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 39,056 shares of company stock valued at $17,585,864. 0.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ISRG shares. KeyCorp restated an “overweight” rating on shares of Intuitive Surgical in a report on Wednesday, August 12th. Royal Bank Of Canada lowered their price target on shares of Intuitive Surgical from $575.00 to $550.00 and set an “outperform” rating for the company in a research report on Wednesday, October 21st. Zacks Research upgraded shares of Intuitive Surgical from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 22nd. UBS Group reissued a “buy” rating on shares of Intuitive Surgical in a report on Tuesday, October 13th. Finally, Wall Street Zen raised shares of Intuitive Surgical from a “hold” rating to a “buy” rating in a research note on Saturday, October 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Intuitive Surgical presently has an average rating of “Moderate Buy” and a consensus target price of $493.54.

About Intuitive Surgical

Intuitive Surgical develops, manufactures and markets robotic-assisted systems for minimally invasive procedures. Its products include da Vinci surgical systems, which allow surgeons to control instruments and a high-definition vision system from a console, as well as the Ion endoluminal system, designed to assist with minimally invasive lung biopsies. The company also provides instruments, accessories, training and support services for its systems. Its technology is used in a range of surgical specialties, including urology, general surgery and gynecology.