Edgewood Management LLC Has $1.49 Billion Stock Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Edgewood Management LLC lowered its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 23.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,033,964 shares of the medical equipment provider’s stock after selling 939,202 shares during the quarter. Intuitive Surgical accounts for about 4.0% of Edgewood Management LLC’s investment portfolio, making the stock its 16th largest position. Edgewood Management LLC’s holdings in Intuitive Surgical were worth $1,490,495,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mirador Capital Partners LP increased its holdings in Intuitive Surgical by 1.4% during the 3rd quarter. Mirador Capital Partners LP now owns 3,526 shares of the medical equipment provider’s stock valued at $1,732,000 after purchasing an additional 50 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of Intuitive Surgical by 18.1% in the 1st quarter. Advisors Asset Management Inc. now owns 7,380 shares of the medical equipment provider’s stock worth $2,945,000 after purchasing an additional 1,129 shares during the last quarter. Consolidated Planning Corp grew its position in shares of Intuitive Surgical by 17.4% during the 3rd quarter. Consolidated Planning Corp now owns 8,099 shares of the medical equipment provider’s stock worth $3,979,000 after buying an additional 1,198 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Intuitive Surgical by 617.1% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 89,069 shares of the medical equipment provider’s stock valued at $39,622,000 after purchasing an additional 76,649 shares during the period. Finally, Swiss National Bank increased its position in shares of Intuitive Surgical by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,052,800 shares of the medical equipment provider’s stock valued at $517,209,000 after buying an additional 3,400 shares in the last quarter. Institutional investors own 83.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ISRG shares. Raymond James boosted their price objective on shares of Intuitive Surgical from $500.00 to $540.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Truist Financial upped their price target on shares of Intuitive Surgical from $520.00 to $570.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Oppenheimer reissued a “market perform” rating on shares of Intuitive Surgical in a report on Friday, October 18th. Erste Group Bank raised shares of Intuitive Surgical from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Robert W. Baird boosted their price objective on shares of Intuitive Surgical from $503.00 to $565.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $524.61.

Intuitive Surgical Stock Performance

Shares of NASDAQ ISRG opened at $550.43 on Friday. Intuitive Surgical, Inc. has a fifty-two week low of $304.50 and a fifty-two week high of $551.78. The stock has a market cap of $196.05 billion, a PE ratio of 88.49, a price-to-earnings-growth ratio of 5.30 and a beta of 1.39. The stock has a fifty day moving average of $503.57 and a 200-day moving average of $461.88.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings results on Thursday, October 17th. The medical equipment provider reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.32. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate 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 predict that Intuitive Surgical, Inc. will post 5.45 EPS for the current year.

Insider Buying and Selling at Intuitive Surgical

In related news, EVP Robert Desantis sold 396 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $486.88, for a total transaction of $192,804.48. Following the completion of the transaction, the executive vice president now directly owns 5,506 shares in the company, valued at $2,680,761.28. The trade was a 6.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Gary Loeb sold 300 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $475.00, for a total value of $142,500.00. Following the completion of the sale, the general counsel now directly owns 1,595 shares in the company, valued at approximately $757,625. The trade was a 15.83 % 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 three months. Company insiders own 0.90% 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.