Convergence Investment Partners LLC Buys Shares of 450 Intuitive Surgical, Inc. (NASDAQ:ISRG)

Convergence Investment Partners LLC bought a new stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 450 shares of the medical equipment provider’s stock, valued at approximately $200,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Indiana Trust & Investment Management CO grew its stake in shares of Intuitive Surgical by 5.3% in the 2nd quarter. Indiana Trust & Investment Management CO now owns 500 shares of the medical equipment provider’s stock valued at $222,000 after purchasing an additional 25 shares during the last quarter. Hoxton Planning & Management LLC lifted its holdings in shares of Intuitive Surgical by 4.9% in the 2nd quarter. Hoxton Planning & Management LLC now owns 534 shares of the medical equipment provider’s stock valued at $238,000 after buying an additional 25 shares during the period. First Affirmative Financial Network lifted its holdings in shares of Intuitive Surgical by 2.7% in the 2nd quarter. First Affirmative Financial Network now owns 996 shares of the medical equipment provider’s stock valued at $443,000 after buying an additional 26 shares during the period. Advance Capital Management Inc. lifted its holdings in shares of Intuitive Surgical by 3.8% in the 1st quarter. Advance Capital Management Inc. now owns 740 shares of the medical equipment provider’s stock valued at $295,000 after buying an additional 27 shares during the period. Finally, Perigon Wealth Management LLC lifted its holdings in shares of Intuitive Surgical by 0.5% in the 1st quarter. Perigon Wealth Management LLC now owns 5,363 shares of the medical equipment provider’s stock valued at $2,140,000 after buying an additional 27 shares during the period. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Robert Desantis sold 188 shares of Intuitive Surgical stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $482.21, for a total value of $90,655.48. Following the completion of the sale, the executive vice president now owns 5,506 shares of the company’s stock, valued at $2,655,048.26. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Robert Desantis sold 188 shares of Intuitive Surgical stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $482.21, for a total value of $90,655.48. Following the completion of the sale, the executive vice president now owns 5,506 shares of the company’s stock, valued at $2,655,048.26. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Henry L. Charlton sold 40,243 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $486.84, for a total value of $19,591,902.12. Following the sale, the senior vice president now directly owns 3,001 shares of the company’s stock, valued at approximately $1,461,006.84. The disclosure for this sale can be found here. Insiders sold a total of 51,656 shares of company stock valued at $24,700,644 over the last quarter. Company insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Barclays raised their price target on Intuitive Surgical from $430.00 to $490.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. Citigroup raised their price target on Intuitive Surgical from $512.00 to $560.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Robert W. Baird raised their price target on Intuitive Surgical from $487.00 to $503.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Piper Sandler raised their price target on Intuitive Surgical from $490.00 to $495.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Finally, Redburn Atlantic raised Intuitive Surgical from a “neutral” rating to a “buy” rating and raised their price target for the company from $380.00 to $510.00 in a report on Friday, August 2nd. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $446.45.

Intuitive Surgical Stock Down 1.9 %

NASDAQ ISRG opened at $483.44 on Wednesday. Intuitive Surgical, Inc. has a fifty-two week low of $254.85 and a fifty-two week high of $493.97. The stock has a market cap of $171.79 billion, a price-to-earnings ratio of 87.26, a price-to-earnings-growth ratio of 5.43 and a beta of 1.39. The business has a fifty day moving average of $456.78 and a 200-day moving average of $416.47.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings results on Thursday, July 18th. The medical equipment provider reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.24. Intuitive Surgical had a return on equity of 13.04% and a net margin of 27.65%. The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same period in the previous year, the firm posted $1.18 earnings per share. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, analysts anticipate that Intuitive Surgical, Inc. will post 5.22 EPS for the current year.

Intuitive Surgical Company 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.