Granite Bay Wealth Management LLC Buys Shares of 2,583 Intuitive Surgical, Inc. (NASDAQ:ISRG)

Granite Bay Wealth Management LLC purchased a new position in Intuitive Surgical, Inc. (NASDAQ:ISRG) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,583 shares of the medical equipment provider’s stock, valued at approximately $1,149,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Capital Research Global Investors purchased a new stake in Intuitive Surgical in the first quarter worth $374,390,000. Coatue Management LLC increased its stake in Intuitive Surgical by 65.7% in the 4th quarter. Coatue Management LLC now owns 1,301,595 shares of the medical equipment provider’s stock worth $439,106,000 after buying an additional 516,054 shares during the period. Vanguard Group Inc. lifted its holdings in Intuitive Surgical by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 30,868,620 shares of the medical equipment provider’s stock valued at $12,319,358,000 after buying an additional 493,126 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Intuitive Surgical by 51.2% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 893,341 shares of the medical equipment provider’s stock worth $356,524,000 after acquiring an additional 302,382 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased 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 acquiring an additional 272,741 shares during the period. 83.64% of the stock is owned by institutional investors.

Intuitive Surgical Price Performance

NASDAQ ISRG opened at $491.27 on Tuesday. The company has a market cap of $174.25 billion, a price-to-earnings ratio of 88.68, a PEG ratio of 5.39 and a beta of 1.39. The stock’s fifty day moving average price is $473.63 and its 200 day moving average price is $429.56. Intuitive Surgical, Inc. has a 1 year low of $254.85 and a 1 year high of $496.18.

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Truist Financial increased their price objective on Intuitive Surgical from $450.00 to $515.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Piper Sandler lifted their price objective on Intuitive Surgical from $490.00 to $495.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Evercore ISI dropped their target price on shares of Intuitive Surgical from $425.00 to $410.00 and set an “in-line” rating on the stock in a report on Friday, July 19th. Redburn Atlantic raised shares of Intuitive Surgical from a “neutral” rating to a “buy” rating and upped their price target for the stock from $380.00 to $510.00 in a research report on Friday, August 2nd. Finally, Morgan Stanley lifted their price objective on shares of Intuitive Surgical from $375.00 to $460.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $446.45.

Insider Activity

In related news, SVP Henry L. Charlton sold 40,243 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $486.84, for a total transaction of $19,591,902.12. Following the completion of the transaction, the senior vice president now owns 3,001 shares of the company’s stock, valued at $1,461,006.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, SVP Henry L. Charlton sold 40,243 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $486.84, for a total transaction of $19,591,902.12. Following the sale, the senior vice president now directly owns 3,001 shares in the company, valued at approximately $1,461,006.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Craig H. Barratt sold 1,400 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $458.13, for a total value of $641,382.00. The disclosure for this sale can be found here. Insiders have sold 53,120 shares of company stock valued at $25,528,753 in the last ninety days. Insiders own 0.90% of the company’s stock.

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.