Bank of Nova Scotia Acquires 69,355 Shares of Intuitive Surgical, Inc. $ISRG

Bank of Nova Scotia lifted its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 24.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 347,491 shares of the medical equipment provider’s stock after acquiring an additional 69,355 shares during the period. Bank of Nova Scotia owned approximately 0.10% of Intuitive Surgical worth $188,827,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. BlackDiamond Wealth Management LLC raised its holdings in shares of Intuitive Surgical by 12.7% in the second quarter. BlackDiamond Wealth Management LLC now owns 578 shares of the medical equipment provider’s stock valued at $311,000 after purchasing an additional 65 shares during the last quarter. California Public Employees Retirement System grew its position in Intuitive Surgical by 7.0% in the 2nd quarter. California Public Employees Retirement System now owns 602,140 shares of the medical equipment provider’s stock worth $327,209,000 after purchasing an additional 39,382 shares in the last quarter. Cerity Partners LLC increased its stake in Intuitive Surgical by 2.2% in the 2nd quarter. Cerity Partners LLC now owns 164,538 shares of the medical equipment provider’s stock valued at $89,412,000 after buying an additional 3,604 shares during the last quarter. Dnca Finance boosted its stake in shares of Intuitive Surgical by 111.6% in the 2nd quarter. Dnca Finance now owns 21,050 shares of the medical equipment provider’s stock worth $11,439,000 after buying an additional 11,100 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its holdings in shares of Intuitive Surgical by 3.7% in the second quarter. Gamco Investors INC. ET AL now owns 10,443 shares of the medical equipment provider’s stock valued at $5,675,000 after acquiring an additional 376 shares in the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.

Insider Activity

In other news, EVP Henry L. Charlton sold 13,731 shares of Intuitive Surgical stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $580.00, for a total transaction of $7,963,980.00. Following the sale, the executive vice president owned 3,056 shares of the company’s stock, valued at approximately $1,772,480. The trade was a 81.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Brian Edward Miller sold 3,500 shares of the 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 transaction, the executive vice president directly owned 5,758 shares of the company’s stock, valued at $3,310,850. This represents a 37.81% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 108,939 shares of company stock valued at $60,757,995. 0.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ISRG shares. Royal Bank Of Canada set a $625.00 target price on Intuitive Surgical and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. The Goldman Sachs Group lifted their price objective on shares of Intuitive Surgical from $567.00 to $621.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Jefferies Financial Group increased their target price on shares of Intuitive Surgical from $550.00 to $560.00 and gave the company a “hold” rating in a research report on Wednesday, October 22nd. HSBC raised their price target on shares of Intuitive Surgical from $595.00 to $644.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Finally, Piper Sandler upped their price objective on Intuitive Surgical from $595.00 to $610.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $607.17.

Intuitive Surgical Price Performance

Shares of NASDAQ:ISRG opened at $575.34 on Monday. Intuitive Surgical, Inc. has a one year low of $425.00 and a one year high of $616.00. The firm has a market capitalization of $206.25 billion, a price-to-earnings ratio of 76.10, a PEG ratio of 5.29 and a beta of 1.68. The company’s fifty day moving average price is $518.60 and its 200-day moving average price is $505.04.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings results on Tuesday, October 21st. The medical equipment provider reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.41. The business had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Intuitive Surgical had a net margin of 28.58% and a return on equity of 15.08%. The business’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period last 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.

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 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.