Harvest Fund Management Co. Ltd Raises Stock Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Harvest Fund Management Co. Ltd lifted its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 32.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,154 shares of the medical equipment provider’s stock after buying an additional 5,729 shares during the period. Intuitive Surgical makes up 0.7% of Harvest Fund Management Co. Ltd’s investment portfolio, making the stock its 27th largest holding. Harvest Fund Management Co. Ltd’s holdings in Intuitive Surgical were worth $11,372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Silvercrest Asset Management Group LLC boosted its position in shares of Intuitive Surgical by 25.0% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 60,339 shares of the medical equipment provider’s stock valued at $24,081,000 after purchasing an additional 12,056 shares during the period. Waverly Advisors LLC increased its holdings in shares of Intuitive Surgical by 27.1% in the 1st quarter. Waverly Advisors LLC now owns 2,552 shares of the medical equipment provider’s stock valued at $1,018,000 after acquiring an additional 544 shares during the period. Kennedy Capital Management LLC purchased a new stake in Intuitive Surgical in the 1st quarter valued at $2,545,000. Janus Henderson Group PLC boosted its stake in Intuitive Surgical by 11.0% during the 1st quarter. Janus Henderson Group PLC now owns 781,069 shares of the medical equipment provider’s stock worth $311,707,000 after purchasing an additional 77,107 shares during the period. Finally, Connective Capital Management LLC purchased a new position in Intuitive Surgical during the 1st quarter worth $9,274,000. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Intuitive Surgical Stock Down 0.5 %

Shares of NASDAQ:ISRG opened at $547.87 on Monday. The company has a market capitalization of $195.14 billion, a P/E ratio of 88.08, a P/E/G ratio of 5.39 and a beta of 1.39. Intuitive Surgical, Inc. has a 52-week low of $304.50 and a 52-week high of $552.00. The stock’s fifty day simple moving average is $504.73 and its 200-day simple moving average is $464.13.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings results on Thursday, October 17th. The medical equipment provider reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.32. The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Intuitive Surgical had a net margin of 28.51% and a return on equity of 13.41%. On average, sell-side analysts anticipate that Intuitive Surgical, Inc. will post 5.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ISRG. Piper Sandler reiterated an “overweight” rating and set a $538.00 target price (up previously from $495.00) on shares of Intuitive Surgical in a research note on Friday, October 18th. Mizuho increased their price objective on Intuitive Surgical from $440.00 to $500.00 in a research report on Thursday, October 17th. Erste Group Bank raised Intuitive Surgical from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. BTIG Research set a $535.00 price target on Intuitive Surgical in a report on Friday, October 18th. Finally, Redburn Atlantic raised shares of Intuitive Surgical from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $380.00 to $510.00 in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Intuitive Surgical has an average rating of “Moderate Buy” and a consensus target price of $524.61.

Insider Buying and Selling at Intuitive Surgical

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 trade was a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gary S. Guthart sold 18,151 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $511.63, for a total value of $9,286,596.13. Following the transaction, the chief executive officer now owns 24,219 shares in the company, valued at $12,391,166.97. This trade represents a 42.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 50,539 shares of company stock worth $26,112,364. Insiders own 0.80% of the company’s stock.

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.