CIBC Asset Management Inc Has $93.25 Million Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

CIBC Asset Management Inc raised its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 5.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 189,822 shares of the medical equipment provider’s stock after purchasing an additional 9,524 shares during the period. CIBC Asset Management Inc’s holdings in Intuitive Surgical were worth $93,254,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Intuitive Surgical by 1.6% during the first 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 during the last quarter. Capital World Investors increased its position in shares of Intuitive Surgical by 1.0% during the first quarter. Capital World Investors now owns 7,284,269 shares of the medical equipment provider’s stock valued at $2,907,079,000 after acquiring an additional 73,634 shares during the last quarter. Baillie Gifford & Co. boosted its position in Intuitive Surgical by 0.6% in the third quarter. Baillie Gifford & Co. now owns 3,848,547 shares of the medical equipment provider’s stock worth $1,890,676,000 after purchasing an additional 24,183 shares during the last quarter. American Century Companies Inc. grew its stake in Intuitive Surgical by 3.0% in the 2nd quarter. American Century Companies Inc. now owns 2,398,193 shares of the medical equipment provider’s stock valued at $1,066,837,000 after purchasing an additional 70,556 shares during the period. Finally, Clearbridge Investments LLC raised its stake in shares of Intuitive Surgical by 1.6% during the 2nd quarter. Clearbridge Investments LLC now owns 1,981,297 shares of the medical equipment provider’s stock worth $881,380,000 after purchasing an additional 30,449 shares during the period. Institutional investors and hedge funds own 83.64% of the company’s stock.

Insider Buying and Selling

In other Intuitive Surgical news, CEO Gary S. Guthart sold 18,151 shares of Intuitive Surgical stock in a transaction on 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 completion of the sale, the chief executive officer now owns 24,219 shares of the company’s stock, valued at approximately $12,391,166.97. This trade represents a 42.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jamie Samath sold 269 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $539.89, for a total value of $145,230.41. Following the transaction, the insider now directly owns 8,757 shares in the company, valued at approximately $4,727,816.73. The trade was a 2.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 91,178 shares of company stock valued at $45,897,071 over the last three months. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ISRG. Leerink Partners increased their target price on shares of Intuitive Surgical from $489.00 to $502.00 in a research report on Thursday, October 17th. Piper Sandler restated an “overweight” rating and issued a $538.00 target price (up from $495.00) on shares of Intuitive Surgical in a research note on Friday, October 18th. The Goldman Sachs Group set a $604.00 price target on Intuitive Surgical in a research note on Friday, October 18th. Evercore ISI reiterated a “cautious” rating on shares of Intuitive Surgical in a research note on Friday, October 18th. Finally, Truist Financial upped their price target on Intuitive Surgical from $520.00 to $570.00 and gave the company a “buy” rating in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $513.74.

Intuitive Surgical Price Performance

ISRG opened at $537.80 on Friday. Intuitive Surgical, Inc. has a 1 year low of $291.39 and a 1 year high of $544.38. The stock’s 50 day simple moving average is $496.95 and its 200 day simple moving average is $455.65. The firm has a market cap of $191.55 billion, a price-to-earnings ratio of 86.46, a PEG ratio of 5.28 and a beta of 1.39.

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

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.