Rafferty Asset Management LLC Grows Stake in Intuitive Surgical, Inc. $ISRG

Rafferty Asset Management LLC grew its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 10.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,303 shares of the medical equipment provider’s stock after purchasing an additional 6,721 shares during the quarter. Rafferty Asset Management LLC’s holdings in Intuitive Surgical were worth $30,547,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. Norges Bank acquired a new position in shares of Intuitive Surgical in the 2nd quarter worth approximately $2,569,260,000. Rakuten Investment Management Inc. bought a new position in Intuitive Surgical during the third quarter worth $388,436,000. Vanguard Group Inc. boosted its holdings in Intuitive Surgical by 2.1% in the second 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. Canada Pension Plan Investment Board increased its stake in Intuitive Surgical by 27.1% during the second quarter. Canada Pension Plan Investment Board now owns 1,089,293 shares of the medical equipment provider’s stock valued at $591,933,000 after purchasing an additional 231,980 shares during the last quarter. Finally, Winslow Capital Management LLC lifted its position in shares of Intuitive Surgical by 20.2% in the 2nd quarter. Winslow Capital Management LLC now owns 1,342,473 shares of the medical equipment provider’s stock worth $729,513,000 after buying an additional 225,545 shares during the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.

Intuitive Surgical Stock Performance

Shares of ISRG stock opened at $503.51 on Friday. Intuitive Surgical, Inc. has a 1 year low of $425.00 and a 1 year high of $603.88. The firm has a market capitalization of $178.81 billion, a PE ratio of 63.82, a price-to-earnings-growth ratio of 3.91 and a beta of 1.65. The stock has a fifty day moving average of $529.83 and a two-hundred day moving average of $511.48.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings data on Thursday, January 22nd. The medical equipment provider reported $2.53 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.26. The business had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.72 billion. Intuitive Surgical had a net margin of 28.38% and a return on equity of 15.06%. The company’s revenue was up 18.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.21 earnings per share. Equities research analysts predict that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, Director Gary S. Guthart sold 24,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $530.10, for a total value of $12,987,450.00. Following the completion of the sale, the director directly owned 3,694 shares in the company, valued at $1,958,189.40. This represents a 86.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Mark Brosius sold 4,500 shares of the stock in a transaction on Friday, December 12th. The shares were sold at an average price of $547.36, for a total value of $2,463,120.00. Following the transaction, the senior vice president directly owned 907 shares of the company’s stock, valued at approximately $496,455.52. The trade was a 83.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 56,409 shares of company stock valued at $30,895,377. 0.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ISRG shares. TD Cowen raised shares of Intuitive Surgical to a “strong-buy” rating in a research report on Tuesday, January 27th. Piper Sandler reaffirmed an “overweight” rating and set a $620.00 target price (up from $610.00) on shares of Intuitive Surgical in a report on Friday, January 23rd. Wells Fargo & Company raised their price target on Intuitive Surgical from $600.00 to $654.00 and gave the stock an “overweight” rating in a report on Friday, December 12th. Robert W. Baird lowered their price objective on Intuitive Surgical from $655.00 to $645.00 and set an “outperform” rating for the company in a research note on Friday, January 23rd. Finally, Royal Bank Of Canada raised their target price on Intuitive Surgical from $625.00 to $650.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Intuitive Surgical currently has an average rating of “Moderate Buy” and an average price target of $615.86.

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.