Fred Alger Management LLC Grows Stock Position in Intuitive Surgical, Inc. $ISRG

Fred Alger Management LLC lifted its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 30.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 350,972 shares of the medical equipment provider’s stock after purchasing an additional 81,062 shares during the quarter. Intuitive Surgical comprises approximately 0.8% of Fred Alger Management LLC’s portfolio, making the stock its 24th biggest position. Fred Alger Management LLC’s holdings in Intuitive Surgical were worth $198,777,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Riversedge Advisors LLC raised its stake in shares of Intuitive Surgical by 1.9% during the fourth quarter. Riversedge Advisors LLC now owns 901 shares of the medical equipment provider’s stock worth $510,000 after purchasing an additional 17 shares during the last quarter. Fiduciary Financial Group LLC raised its stake in shares of Intuitive Surgical by 2.1% during the fourth quarter. Fiduciary Financial Group LLC now owns 920 shares of the medical equipment provider’s stock worth $521,000 after purchasing an additional 19 shares during the last quarter. Prosperity Consulting Group LLC raised its position in Intuitive Surgical by 0.5% in the third quarter. Prosperity Consulting Group LLC now owns 4,033 shares of the medical equipment provider’s stock worth $1,804,000 after acquiring an additional 19 shares in the last quarter. Sunburst Financial Group LLC raised its position in Intuitive Surgical by 4.3% in the fourth quarter. Sunburst Financial Group LLC now owns 485 shares of the medical equipment provider’s stock worth $275,000 after acquiring an additional 20 shares in the last quarter. Finally, WoodTrust Financial Corp raised its position in Intuitive Surgical by 0.5% in the fourth quarter. WoodTrust Financial Corp now owns 4,180 shares of the medical equipment provider’s stock worth $2,367,000 after acquiring an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on ISRG. Deutsche Bank Aktiengesellschaft cut their price objective on Intuitive Surgical from $440.00 to $366.00 and set a “sell” rating for the company in a research report on Tuesday, June 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Intuitive Surgical in a research report on Tuesday, May 19th. The Goldman Sachs Group set a $558.00 price objective on Intuitive Surgical in a research report on Wednesday, May 27th. Piper Sandler reiterated an “overweight” rating and issued a $580.00 price objective on shares of Intuitive Surgical in a research report on Tuesday, June 2nd. Finally, Wall Street Zen upgraded Intuitive Surgical from a “hold” rating to a “buy” rating in a research report on Saturday. Nineteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Intuitive Surgical presently has an average rating of “Moderate Buy” and a consensus price target of $573.42.

Intuitive Surgical Stock Performance

Intuitive Surgical stock opened at $417.07 on Wednesday. The firm has a market capitalization of $147.71 billion, a price-to-earnings ratio of 50.55, a price-to-earnings-growth ratio of 3.39 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 stock’s fifty day moving average is $441.47 and its two-hundred day moving average is $493.43.

Intuitive Surgical (NASDAQ:ISRG) last posted its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.42. The company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.62 billion. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.Intuitive Surgical’s revenue was up 23.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.81 earnings per share. As a group, sell-side analysts forecast that Intuitive Surgical, Inc. will post 8.57 EPS for the current fiscal year.

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, EVP Gary Loeb sold 400 shares of the company’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total value of $169,656.00. Following the sale, the executive vice president owned 5,720 shares of the company’s stock, valued at approximately $2,426,080.80. This represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Iman Jeddi sold 5,625 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $420.55, for a total value of $2,365,593.75. Following the completion of the sale, the senior vice president directly owned 6,463 shares in the company, valued at $2,718,014.65. This trade represents a 46.53% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 7,169 shares of company stock valued at $3,059,135. Insiders own 0.60% of the company’s stock.

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.