Cullinan Associates Inc. Boosts Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Cullinan Associates Inc. grew its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 300.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,400 shares of the medical equipment provider’s stock after buying an additional 4,800 shares during the quarter. Cullinan Associates Inc.’s holdings in Intuitive Surgical were worth $2,554,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Intuitive Surgical by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 29,868,227 shares of the medical equipment provider’s stock valued at $8,730,184,000 after purchasing an additional 196,316 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Intuitive Surgical by 1.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,973,266 shares of the medical equipment provider’s stock worth $5,726,102,000 after buying an additional 272,741 shares in the last quarter. Edgewood Management LLC raised its holdings in Intuitive Surgical by 7.9% in the fourth quarter. Edgewood Management LLC now owns 5,131,066 shares of the medical equipment provider’s stock valued at $1,731,016,000 after acquiring an additional 374,667 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Intuitive Surgical by 2.0% during the 4th quarter. Fisher Asset Management LLC now owns 4,494,373 shares of the medical equipment provider’s stock valued at $1,516,222,000 after acquiring an additional 88,977 shares during the last quarter. Finally, Norges Bank acquired a new position in Intuitive Surgical during the 4th quarter worth $1,313,238,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Stock Performance

ISRG stock opened at $438.81 on Wednesday. Intuitive Surgical, Inc. has a 52 week low of $254.85 and a 52 week high of $448.10. The firm has a 50 day simple moving average of $405.17 and a 200 day simple moving average of $384.28. The stock has a market cap of $155.65 billion, a P/E ratio of 79.21, a P/E/G ratio of 5.75 and a beta of 1.39.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings data 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 analysts’ expectations of $1.87 billion. Intuitive Surgical had a net margin of 27.16% and a return on equity of 12.91%. Intuitive Surgical’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.00 earnings per share. Sell-side analysts predict that Intuitive Surgical, Inc. will post 4.8 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Robert Desantis sold 1,498 shares of Intuitive Surgical stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $369.92, for a total transaction of $554,140.16. Following the sale, the executive vice president now directly owns 5,507 shares of the company’s stock, valued at $2,037,149.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, 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 value of $1,971,169.88. Following the sale, the executive vice president now owns 298 shares of the company’s stock, valued at $110,456.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Robert Desantis sold 1,498 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $369.92, for a total transaction of $554,140.16. Following the transaction, the executive vice president now owns 5,507 shares of the company’s stock, valued at approximately $2,037,149.44. The disclosure for this sale can be found here. Insiders have sold 17,956 shares of company stock worth $6,927,011 in the last ninety days. Insiders own 0.80% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on ISRG shares. Piper Sandler increased their target price on Intuitive Surgical from $425.00 to $435.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. BTIG Research lifted their price target on shares of Intuitive Surgical from $412.00 to $421.00 and gave the company a “buy” rating in a report on Friday, April 19th. Jefferies Financial Group increased their price objective on shares of Intuitive Surgical from $365.00 to $375.00 and gave the stock a “hold” rating in a research note on Friday, April 19th. The Goldman Sachs Group started coverage on Intuitive Surgical in a research note on Thursday, May 30th. They issued a “buy” rating and a $500.00 target price for the company. Finally, Citigroup increased their price target on Intuitive Surgical from $428.00 to $462.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $404.79.

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.