Envestnet Portfolio Solutions Inc. Grows Stock Position in Intuitive Surgical, Inc. $ISRG

Envestnet Portfolio Solutions Inc. grew its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 7.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 46,820 shares of the medical equipment provider’s stock after purchasing an additional 3,447 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Intuitive Surgical were worth $26,517,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in ISRG. Northwestern Mutual Wealth Management Co. raised its stake in Intuitive Surgical by 1,043.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,342,121 shares of the medical equipment provider’s stock valued at $760,124,000 after acquiring an additional 1,224,734 shares during the period. Rakuten Investment Management Inc. purchased a new position in shares of Intuitive Surgical in the third quarter worth about $388,436,000. Assenagon Asset Management S.A. raised its position in shares of Intuitive Surgical by 106.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,533,771 shares of the medical equipment provider’s stock valued at $868,667,000 after purchasing an additional 791,516 shares during the period. Amundi lifted its stake in shares of Intuitive Surgical by 29.7% during the 3rd quarter. Amundi now owns 3,227,472 shares of the medical equipment provider’s stock valued at $1,451,362,000 after buying an additional 739,444 shares in the last quarter. Finally, Sands Capital Management LLC lifted its stake in shares of Intuitive Surgical by 77.0% during the 3rd quarter. Sands Capital Management LLC now owns 1,341,109 shares of the medical equipment provider’s stock valued at $599,784,000 after buying an additional 583,539 shares in the last quarter. Institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Price Performance

Shares of NASDAQ:ISRG opened at $439.92 on Tuesday. The firm has a fifty day moving average price of $462.50 and a two-hundred day moving average price of $513.03. The company has a market cap of $155.80 billion, a price-to-earnings ratio of 53.32, a PEG ratio of 3.36 and a beta of 1.51. Intuitive Surgical, Inc. has a one year low of $417.74 and a one year high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.42. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The firm had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter in the prior year, the firm posted $1.81 earnings per share. The business’s quarterly revenue was up 23.0% on a year-over-year basis. Equities research analysts expect that Intuitive Surgical, Inc. will post 8.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other Intuitive Surgical news, Director Amy L. Ladd sold 500 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $473.46, for a total value of $236,730.00. Following the sale, the director owned 239 shares of the company’s stock, valued at $113,156.94. This trade represents a 67.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of Intuitive Surgical stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $446.95, for a total value of $178,780.00. Following the sale, the executive vice president owned 6,120 shares of the company’s stock, valued at approximately $2,735,334. This trade represents a 6.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 5,647 shares of company stock worth $2,760,359. 0.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on ISRG. The Goldman Sachs Group lifted their price objective on shares of Intuitive Surgical from $609.00 to $621.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Robert W. Baird increased their target price on Intuitive Surgical from $575.00 to $610.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Truist Financial cut their price target on Intuitive Surgical from $650.00 to $580.00 and set a “buy” rating for the company in a report on Wednesday, April 15th. Raymond James Financial decreased their price objective on Intuitive Surgical from $615.00 to $577.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 22nd. Finally, TD Cowen dropped their price objective on Intuitive Surgical from $660.00 to $585.00 and set a “buy” rating on the stock in a report on Wednesday, April 22nd. Nineteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $579.33.

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.