Factory Mutual Insurance Co. Reduces Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Factory Mutual Insurance Co. lowered its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 36.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 20,500 shares of the medical equipment provider’s stock after selling 11,800 shares during the quarter. Factory Mutual Insurance Co.’s holdings in Intuitive Surgical were worth $10,071,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ISRG. Ridgewood Investments LLC purchased a new position in shares of Intuitive Surgical in the second quarter worth about $26,000. Creekmur Asset Management LLC grew its stake in Intuitive Surgical by 200.0% in the 1st quarter. Creekmur Asset Management LLC now owns 63 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 42 shares in the last quarter. LGT Financial Advisors LLC lifted its position in shares of Intuitive Surgical by 415.4% during the second quarter. LGT Financial Advisors LLC now owns 67 shares of the medical equipment provider’s stock worth $30,000 after acquiring an additional 54 shares in the last quarter. Delos Wealth Advisors LLC boosted its holdings in shares of Intuitive Surgical by 380.0% in the first quarter. Delos Wealth Advisors LLC now owns 72 shares of the medical equipment provider’s stock worth $29,000 after acquiring an additional 57 shares during the period. Finally, LRI Investments LLC purchased a new position in shares of Intuitive Surgical in the first quarter valued at $30,000. 83.64% of the stock is currently owned by institutional investors.

Intuitive Surgical Price Performance

NASDAQ ISRG traded up $0.94 during trading hours on Friday, reaching $484.78. 1,170,154 shares of the company’s stock traded hands, compared to its average volume of 1,469,034. The firm has a 50-day simple moving average of $480.34 and a 200 day simple moving average of $434.94. Intuitive Surgical, Inc. has a 52-week low of $254.85 and a 52-week high of $496.48. The firm has a market cap of $172.27 billion, a PE ratio of 83.30, a PEG ratio of 5.40 and a beta of 1.39.

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, beating 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 business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter in the previous year, the business earned $1.18 earnings per share. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. Sell-side analysts forecast that Intuitive Surgical, Inc. will post 5.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Morgan Stanley raised their target price on Intuitive Surgical from $375.00 to $460.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Evercore ISI lifted their price target on Intuitive Surgical from $410.00 to $475.00 and gave the company an “in-line” rating in a research report on Tuesday, October 1st. BTIG Research increased their price target on shares of Intuitive Surgical from $469.00 to $494.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Stifel Nicolaus upped their price objective on Intuitive Surgical from $430.00 to $475.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Finally, Piper Sandler raised 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. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $458.35.

Insider Transactions at Intuitive Surgical

In other Intuitive Surgical news, Director Amy L. Ladd sold 450 shares of Intuitive Surgical stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $490.28, for a total value of $220,626.00. Following the completion of the transaction, the director now directly owns 821 shares of the company’s stock, valued at approximately $402,519.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Intuitive Surgical news, Director Amal M. Johnson sold 2,943 shares of Intuitive Surgical stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $443.30, for a total value of $1,304,631.90. Following the completion of the sale, the director now owns 12,275 shares of the company’s stock, valued at approximately $5,441,507.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Amy L. Ladd sold 450 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $490.28, for a total value of $220,626.00. Following the sale, the director now directly owns 821 shares in the company, valued at $402,519.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 53,120 shares of company stock valued at $25,528,753 in the last quarter. 0.90% of the stock is owned by insiders.

About Intuitive Surgical

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.