Deepwater Asset Management LLC Takes $14.28 Million Position in Intuitive Surgical, Inc. $ISRG

Deepwater Asset Management LLC acquired a new stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 25,210 shares of the medical equipment provider’s stock, valued at approximately $14,278,000. Intuitive Surgical comprises approximately 4.2% of Deepwater Asset Management LLC’s portfolio, making the stock its 8th biggest holding.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Intuitive Surgical by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 33,599,661 shares of the medical equipment provider’s stock worth $15,026,776,000 after purchasing an additional 263,828 shares in the last quarter. Capital World Investors increased its position in Intuitive Surgical by 1.7% during the 4th quarter. Capital World Investors now owns 7,856,018 shares of the medical equipment provider’s stock worth $4,449,491,000 after purchasing an additional 127,526 shares in the last quarter. Norges Bank acquired a new stake in Intuitive Surgical during the 4th quarter worth approximately $2,856,987,000. Fisher Asset Management LLC increased its position in Intuitive Surgical by 1.1% during the 3rd quarter. Fisher Asset Management LLC now owns 3,889,439 shares of the medical equipment provider’s stock worth $1,739,475,000 after purchasing an additional 40,702 shares in the last quarter. Finally, Amundi increased its position in Intuitive Surgical by 29.7% during the 3rd quarter. Amundi now owns 3,227,472 shares of the medical equipment provider’s stock worth $1,451,362,000 after purchasing an additional 739,444 shares in the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Myriam Curet sold 105 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $493.95, for a total transaction of $51,864.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Amy L. Ladd sold 500 shares of the firm’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $473.46, for a total value of $236,730.00. Following the transaction, the director owned 239 shares in the company, valued at $113,156.94. This trade represents a 67.66% 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. In the last 90 days, insiders have sold 6,803 shares of company stock valued at $2,911,573. Corporate insiders own 0.60% of the company’s stock.

Intuitive Surgical Price Performance

NASDAQ ISRG opened at $422.06 on Monday. The stock has a market cap of $149.48 billion, a PE ratio of 51.16, a P/E/G ratio of 3.37 and a beta of 1.46. Intuitive Surgical, Inc. has a fifty-two week low of $396.68 and a fifty-two week high of $603.88. The business has a 50 day moving average price of $447.24 and a two-hundred day moving average price of $500.70.

Intuitive Surgical (NASDAQ:ISRG) last released its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 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 analysts’ expectations of $2.62 billion. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The business’s revenue was up 23.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.81 EPS. Sell-side analysts anticipate that Intuitive Surgical, Inc. will post 8.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ISRG shares. Truist Financial dropped their target price on shares of Intuitive Surgical from $650.00 to $580.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Raymond James Financial dropped their target price on shares of Intuitive Surgical from $615.00 to $577.00 and set an “outperform” rating for the company in a research report on Wednesday, April 22nd. Barclays set a $651.00 target price on shares of Intuitive Surgical and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. Zacks Research downgraded shares of Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Finally, Jefferies Financial Group dropped their target price on shares of Intuitive Surgical from $560.00 to $515.00 and set a “hold” rating for the company in a research report on Wednesday, April 22nd. Nineteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $573.63.

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.