RMR Wealth Builders Grows Stake in Intuitive Surgical, Inc. $ISRG

RMR Wealth Builders increased its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 18.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,377 shares of the medical equipment provider’s stock after purchasing an additional 1,161 shares during the quarter. RMR Wealth Builders’ holdings in Intuitive Surgical were worth $3,299,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of ISRG. Vanguard Group Inc. increased its holdings in 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 valued at $18,115,025,000 after acquiring an additional 670,302 shares in the last quarter. State Street Corp grew its holdings in shares of Intuitive Surgical by 1.2% during the second quarter. State Street Corp now owns 15,552,203 shares of the medical equipment provider’s stock worth $8,451,223,000 after buying an additional 182,871 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Intuitive Surgical by 1.4% during the second quarter. Geode Capital Management LLC now owns 8,188,685 shares of the medical equipment provider’s stock worth $4,429,590,000 after buying an additional 109,904 shares in the last quarter. Norges Bank acquired a new position in shares of Intuitive Surgical in the second quarter valued at approximately $2,569,260,000. Finally, Invesco Ltd. lifted its stake in shares of Intuitive Surgical by 4.8% during the second quarter. Invesco Ltd. now owns 4,421,133 shares of the medical equipment provider’s stock valued at $2,402,488,000 after buying an additional 201,159 shares during the period. Institutional investors and hedge funds own 83.64% of the company’s stock.

Wall Street Analysts Forecast Growth

ISRG has been the subject of several analyst reports. Sanford C. Bernstein boosted their price target on Intuitive Surgical from $740.00 to $750.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Argus upped their target price on Intuitive Surgical from $600.00 to $630.00 in a research note on Monday, October 27th. Zacks Research lowered Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 21st. Piper Sandler restated an “overweight” rating and issued a $620.00 price target (up previously from $610.00) on shares of Intuitive Surgical in a report on Friday, January 23rd. Finally, Leerink Partners increased their price objective on shares of Intuitive Surgical from $593.00 to $600.00 and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Intuitive Surgical has a consensus rating of “Moderate Buy” and a consensus target price of $620.41.

Intuitive Surgical Price Performance

Intuitive Surgical stock opened at $478.49 on Thursday. The company has a market cap of $171.53 billion, a price-to-earnings ratio of 60.65, a price-to-earnings-growth ratio of 3.72 and a beta of 1.65. Intuitive Surgical, Inc. has a 12 month low of $425.00 and a 12 month high of $609.08. The stock’s 50-day moving average is $553.29 and its 200-day moving average is $510.97.

Intuitive Surgical (NASDAQ:ISRG) last posted its earnings results on Thursday, January 22nd. The medical equipment provider reported $2.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.26. The firm had revenue of $2.87 billion during the quarter, compared to the consensus estimate 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 quarter in the prior year, the company earned $2.21 EPS. Research analysts anticipate that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Mark Brosius sold 4,500 shares of Intuitive Surgical stock in a transaction on Friday, December 12th. The shares were sold at an average price of $547.36, for a total transaction of $2,463,120.00. Following the transaction, the senior vice president owned 907 shares in the company, valued at approximately $496,455.52. The trade was a 83.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gary S. Guthart sold 24,500 shares of the stock in a transaction on Tuesday, January 27th. The shares were 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 owned 3,694 shares of the company’s stock, valued at approximately $1,958,189.40. This represents a 86.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 73,616 shares of company stock worth $40,929,575. 0.70% of the stock is owned by company insiders.

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.