LPL Financial LLC Boosts Stake in Intuitive Surgical, Inc. (NASDAQ:ISRG)

LPL Financial LLC grew its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 11.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 329,704 shares of the medical equipment provider’s stock after acquiring an additional 34,964 shares during the quarter. LPL Financial LLC owned 0.09% of Intuitive Surgical worth $161,974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Intech Investment Management LLC grew its position in Intuitive Surgical by 23.8% in the third quarter. Intech Investment Management LLC now owns 26,346 shares of the medical equipment provider’s stock worth $12,943,000 after acquiring an additional 5,067 shares in the last quarter. Cornerstone Advisors LLC increased its position in shares of Intuitive Surgical by 16.3% during the 3rd quarter. Cornerstone Advisors LLC now owns 14,300 shares of the medical equipment provider’s stock valued at $7,025,000 after purchasing an additional 2,000 shares during the last quarter. Citizens Financial Group Inc. RI raised its holdings in Intuitive Surgical by 20.9% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 8,120 shares of the medical equipment provider’s stock valued at $3,989,000 after buying an additional 1,406 shares during the period. Moran Wealth Management LLC lifted its position in Intuitive Surgical by 24.2% in the third quarter. Moran Wealth Management LLC now owns 1,749 shares of the medical equipment provider’s stock worth $859,000 after buying an additional 341 shares during the last quarter. Finally, Portfolio Design Labs LLC grew its stake in shares of Intuitive Surgical by 479.7% during the third quarter. Portfolio Design Labs LLC now owns 3,519 shares of the medical equipment provider’s stock valued at $1,729,000 after buying an additional 2,912 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ISRG shares. Royal Bank of Canada boosted their price objective on Intuitive Surgical from $525.00 to $555.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Piper Sandler reiterated an “overweight” rating and set a $538.00 price objective (up from $495.00) on shares of Intuitive Surgical in a research note on Friday, October 18th. Oppenheimer reaffirmed a “market perform” rating on shares of Intuitive Surgical in a research report on Friday, October 18th. Redburn Atlantic raised Intuitive Surgical from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $380.00 to $510.00 in a research report on Friday, August 2nd. Finally, Robert W. Baird raised their price objective on Intuitive Surgical from $503.00 to $565.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $524.61.

Insider Activity

In related news, EVP Robert Desantis sold 188 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $482.21, for a total value of $90,655.48. Following the sale, the executive vice president now owns 5,506 shares of the company’s stock, valued at $2,655,048.26. This trade represents a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jamie Samath sold 269 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $539.89, for a total transaction of $145,230.41. Following the transaction, the insider now owns 8,757 shares of the company’s stock, valued at $4,727,816.73. This trade represents a 2.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,935 shares of company stock valued at $26,305,169 in the last 90 days. Company insiders own 0.90% of the company’s stock.

Intuitive Surgical Trading Up 1.6 %

ISRG opened at $550.43 on Friday. Intuitive Surgical, Inc. has a twelve month low of $304.50 and a twelve month high of $551.78. The firm has a market capitalization of $196.05 billion, a PE ratio of 88.49, a PEG ratio of 5.30 and a beta of 1.39. The firm’s 50-day moving average price is $503.57 and its 200 day moving average price is $461.88.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings results on Thursday, October 17th. The medical equipment provider reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.32. Intuitive Surgical had a return on equity of 13.41% and a net margin of 28.51%. The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.01 billion. As a group, analysts predict that Intuitive Surgical, Inc. will post 5.45 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.