Norden Group LLC Buys 17,650 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Norden Group LLC grew its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 2,441.2% during the first quarter, HoldingsChannel.com reports. The firm owned 18,373 shares of the medical equipment provider’s stock after acquiring an additional 17,650 shares during the quarter. Norden Group LLC’s holdings in Intuitive Surgical were worth $7,332,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ISRG. Norges Bank acquired a new position in shares of Intuitive Surgical during the 4th quarter worth approximately $1,313,238,000. WCM Investment Management LLC acquired a new position in shares of Intuitive Surgical during the 4th quarter worth approximately $575,536,000. International Assets Investment Management LLC grew its position in shares of Intuitive Surgical by 32,360.5% during the 4th quarter. International Assets Investment Management LLC now owns 686,865 shares of the medical equipment provider’s stock worth $231,721,000 after purchasing an additional 684,749 shares in the last quarter. Alphinity Investment Management Pty Ltd boosted its position in shares of Intuitive Surgical by 113.2% during the 4th quarter. Alphinity Investment Management Pty Ltd now owns 1,276,158 shares of the medical equipment provider’s stock worth $430,525,000 after acquiring an additional 677,455 shares in the last quarter. Finally, Coatue Management LLC boosted its position in shares of Intuitive Surgical by 65.7% during the 4th quarter. Coatue Management LLC now owns 1,301,595 shares of the medical equipment provider’s stock worth $439,106,000 after acquiring an additional 516,054 shares in the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.

Insider Activity at Intuitive Surgical

In related news, Director Craig H. Barratt sold 1,400 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $421.06, for a total value of $589,484.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Craig H. Barratt sold 1,400 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $421.06, for a total value of $589,484.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Myriam Curet sold 5,318 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $370.66, for a total transaction of $1,971,169.88. Following the transaction, the executive vice president now owns 298 shares in the company, valued at approximately $110,456.68. The disclosure for this sale can be found here. Insiders have sold a total of 17,956 shares of company stock worth $6,927,011 over the last quarter. Company insiders own 0.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ISRG shares. Piper Sandler increased their price target on shares of Intuitive Surgical from $425.00 to $435.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Citigroup increased their price target on shares of Intuitive Surgical from $428.00 to $462.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. BTIG Research increased their price target on shares of Intuitive Surgical from $412.00 to $421.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Robert W. Baird reduced their price target on shares of Intuitive Surgical from $440.00 to $436.00 and set an “outperform” rating on the stock in a research report on Friday, April 19th. Finally, The Goldman Sachs Group began coverage on shares of Intuitive Surgical in a research report on Thursday, May 30th. They set a “buy” rating and a $500.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Intuitive Surgical presently has a consensus rating of “Moderate Buy” and an average target price of $404.79.

Intuitive Surgical Stock Performance

ISRG stock opened at $434.81 on Friday. The company has a fifty day moving average price of $407.60 and a 200-day moving average price of $385.43. The company has a market capitalization of $154.23 billion, a P/E ratio of 78.49, a PEG ratio of 5.62 and a beta of 1.39. Intuitive Surgical, Inc. has a 52-week low of $254.85 and a 52-week high of $448.10.

Intuitive Surgical (NASDAQ:ISRG) last announced its earnings results on Thursday, April 18th. The medical equipment provider reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.10. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.87 billion. Intuitive Surgical had a net margin of 27.16% and a return on equity of 12.91%. Intuitive Surgical’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.00 earnings per share. As a group, sell-side analysts forecast that Intuitive Surgical, Inc. will post 4.8 earnings per share for the current fiscal year.

Intuitive Surgical Profile

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.