Intuitive Surgical, Inc. $ISRG Shares Bought by Saudi Central Bank

Saudi Central Bank grew its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 90.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,862 shares of the medical equipment provider’s stock after buying an additional 11,777 shares during the quarter. Saudi Central Bank’s holdings in Intuitive Surgical were worth $9,887,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ISRG. Norges Bank bought a new position in Intuitive Surgical during the 4th quarter valued at $2,856,987,000. Bank of New York Mellon Corp bought a new stake in shares of Intuitive Surgical in the 2nd quarter worth about $1,335,753,000. J. Stern & Co. LLP increased its position in shares of Intuitive Surgical by 18,504.6% in the 4th quarter. J. Stern & Co. LLP now owns 2,127,248 shares of the medical equipment provider’s stock worth $1,204,788,000 after purchasing an additional 2,115,814 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of 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 purchasing an additional 1,224,734 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Intuitive Surgical by 95.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,105,544 shares of the medical equipment provider’s stock valued at $970,635,000 after purchasing an additional 1,027,475 shares in the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.

Intuitive Surgical Stock Down 0.8%

Shares of NASDAQ:ISRG opened at $366.70 on Friday. The company has a market cap of $129.55 billion, a PE ratio of 42.00, a P/E/G ratio of 2.77 and a beta of 1.47. Intuitive Surgical, Inc. has a fifty-two week low of $328.57 and a fifty-two week high of $603.88. The firm has a 50-day simple moving average of $381.44 and a 200 day simple moving average of $428.60.

Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Thursday, July 16th. The medical equipment provider reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.32. Intuitive Surgical had a net margin of 28.45% and a return on equity of 16.91%. The firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.83 billion. During the same quarter last year, the company posted $1.81 earnings per share. Intuitive Surgical’s revenue was up 18.4% on a year-over-year basis. As a group, research analysts forecast that Intuitive Surgical, Inc. will post 8.87 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Gary Guthart sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $400.00, for a total value of $4,000,000.00. Following the sale, the director owned 1,245,679 shares of the company’s stock, valued at approximately $498,271,600. This trade represents a 0.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy Ladd sold 72 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $393.10, for a total value of $28,303.20. Following the transaction, the director owned 179 shares of the company’s stock, valued at $70,364.90. This represents a 28.69% 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. Insiders have sold a total of 11,658 shares of company stock valued at $4,649,835 over the last quarter. Company insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Truist Financial decreased their price target on Intuitive Surgical from $580.00 to $510.00 and set a “buy” rating for the company in a research note on Thursday, July 16th. Bank of America reduced their target price on Intuitive Surgical from $520.00 to $515.00 in a report on Friday, June 12th. Raymond James Financial reiterated an “outperform” rating and issued a $483.00 target price (down from $577.00) on shares of Intuitive Surgical in a research report on Friday, July 17th. Wells Fargo & Company reiterated an “overweight” rating and issued a $487.00 price target (down from $654.00) on shares of Intuitive Surgical in a report on Friday, July 17th. Finally, The Goldman Sachs Group set a $558.00 price target on Intuitive Surgical in a research report on Wednesday, May 27th. Twenty-two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $508.68.

Intuitive Surgical 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.