Panagora Asset Management Inc. Boosts Stake in Intuitive Surgical, Inc. $ISRG

Panagora Asset Management Inc. lifted its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 530.7% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,653 shares of the medical equipment provider’s stock after buying an additional 42,622 shares during the period. Panagora Asset Management Inc.’s holdings in Intuitive Surgical were worth $27,525,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in Intuitive Surgical in the 2nd quarter valued at $2,569,260,000. Nuveen LLC bought a new stake in shares of Intuitive Surgical during the 1st quarter worth $1,715,899,000. Vanguard Group Inc. raised its stake in shares of Intuitive Surgical by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 33,335,833 shares of the medical equipment provider’s stock worth $18,115,025,000 after purchasing an additional 670,302 shares during the period. Goldman Sachs Group Inc. grew its position in Intuitive Surgical by 26.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,819,666 shares of the medical equipment provider’s stock valued at $1,396,496,000 after buying an additional 584,375 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Intuitive Surgical by 20.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,393,951 shares of the medical equipment provider’s stock valued at $1,680,922,000 after buying an additional 566,979 shares during the period. 83.64% of the stock is owned by institutional investors.

Intuitive Surgical Price Performance

Shares of NASDAQ:ISRG opened at $567.37 on Tuesday. The company’s fifty day moving average price is $508.39 and its 200-day moving average price is $504.67. The firm has a market capitalization of $203.39 billion, a price-to-earnings ratio of 75.05, a PEG ratio of 4.94 and a beta of 1.62. Intuitive Surgical, Inc. has a one year low of $425.00 and a one year high of $616.00.

Intuitive Surgical (NASDAQ:ISRG) last announced its earnings results on Tuesday, October 21st. The medical equipment provider reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.41. The company had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.41 billion. Intuitive Surgical had a net margin of 28.58% and a return on equity of 15.08%. The firm’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.84 earnings per share. As a group, equities research analysts expect that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on ISRG. Wall Street Zen raised shares of Intuitive Surgical from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. Daiwa Capital Markets lifted their price target on shares of Intuitive Surgical from $510.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, October 24th. Zacks Research upgraded Intuitive Surgical from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 24th. Rothschild & Co Redburn increased their price objective on Intuitive Surgical from $610.00 to $615.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Finally, Piper Sandler raised their target price on Intuitive Surgical from $595.00 to $610.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $607.28.

Insider Activity

In related news, CEO David J. Rosa sold 24,500 shares of the firm’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $547.55, for a total transaction of $13,414,975.00. Following the transaction, the chief executive officer directly owned 234,256 shares of the company’s stock, valued at approximately $128,266,872.80. This trade represents a 9.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Brian Edward Miller sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $575.00, for a total value of $2,012,500.00. Following the completion of the sale, the executive vice president owned 5,758 shares of the company’s stock, valued at $3,310,850. The trade was a 37.81% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 86,804 shares of company stock worth $48,043,866. 0.70% of the stock is currently owned by insiders.

Intuitive Surgical Company Profile

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 that enables 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.