BlackRock Inc. Purchases 470,624 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

BlackRock Inc. increased its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 1.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,918,406 shares of the medical equipment provider’s stock after acquiring an additional 470,624 shares during the period. BlackRock Inc. owned about 8.25% of Intuitive Surgical worth $7,387,785,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. HHM Wealth Advisors LLC lifted its stake in shares of Intuitive Surgical by 1,314.3% in the 1st quarter. HHM Wealth Advisors LLC now owns 99 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 92 shares during the period. Bogart Wealth LLC raised its position in Intuitive Surgical by 721.4% in the first quarter. Bogart Wealth LLC now owns 115 shares of the medical equipment provider’s stock worth $29,000 after acquiring an additional 101 shares during the period. Barrett & Company Inc. bought a new stake in shares of Intuitive Surgical during the 1st quarter valued at $30,000. Addison Advisors LLC increased its stake in shares of Intuitive Surgical by 1,837.5% in the 1st quarter. Addison Advisors LLC now owns 155 shares of the medical equipment provider’s stock worth $40,000 after purchasing an additional 147 shares in the last quarter. Finally, Close Asset Management Ltd bought a new position in Intuitive Surgical in the 1st quarter worth $45,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Intuitive Surgical Trading Down 0.6 %

Shares of NASDAQ ISRG traded down $1.74 during trading hours on Wednesday, reaching $305.94. The stock had a trading volume of 478,259 shares, compared to its average volume of 1,702,747. The business’s fifty day moving average price is $319.99 and its two-hundred day moving average price is $294.20. The firm has a market cap of $107.51 billion, a price-to-earnings ratio of 77.11, a P/E/G ratio of 4.40 and a beta of 1.30. Intuitive Surgical, Inc. has a 52-week low of $180.07 and a 52-week high of $358.07.

Intuitive Surgical (NASDAQ:ISRG) last posted its earnings results on Thursday, July 20th. The medical equipment provider reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.09. Intuitive Surgical had a net margin of 21.38% and a return on equity of 12.41%. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter last year, the firm posted $0.85 EPS. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. Equities research analysts anticipate that Intuitive Surgical, Inc. will post 4.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Alan J. Levy sold 2,000 shares of Intuitive Surgical stock in a transaction on Monday, August 7th. The stock was sold at an average price of $310.00, for a total value of $620,000.00. Following the transaction, the director now directly owns 25,319 shares in the company, valued at approximately $7,848,890. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Alan J. Levy sold 2,000 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $310.00, for a total transaction of $620,000.00. Following the completion of the sale, the director now owns 25,319 shares of the company’s stock, valued at $7,848,890. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Marshall Mohr sold 11,250 shares of Intuitive Surgical stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $325.00, for a total transaction of $3,656,250.00. Following the completion of the transaction, the vice president now directly owns 24,136 shares in the company, valued at $7,844,200. The disclosure for this sale can be found here. Insiders sold a total of 75,069 shares of company stock worth $24,452,502 over the last 90 days. Company insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ISRG. Wells Fargo & Company increased their price objective on shares of Intuitive Surgical from $310.00 to $386.00 and gave the stock an “overweight” rating in a research note on Friday, July 21st. Morgan Stanley boosted their price objective on Intuitive Surgical from $310.00 to $330.00 and gave the company an “equal weight” rating in a research report on Monday, July 24th. Piper Sandler increased their target price on Intuitive Surgical from $315.00 to $385.00 and gave the stock an “overweight” rating in a research report on Friday, July 21st. TheStreet raised Intuitive Surgical from a “c+” rating to a “b” rating in a report on Monday, July 24th. Finally, Barclays increased their price objective on shares of Intuitive Surgical from $314.00 to $385.00 and gave the company an “overweight” rating in a report on Monday, July 24th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Intuitive Surgical currently has an average rating of “Moderate Buy” and a consensus price target of $343.10.

About Intuitive Surgical

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 to enable 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.