Putnam Investments LLC Sells 40,672 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Posted by Defense World Staff on Jun 13th, 2023

Putnam Investments LLC lowered its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG – Get Rating) by 7.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 477,882 shares of the medical equipment provider’s stock after selling 40,672 shares during the quarter. Putnam Investments LLC owned 0.14% of Intuitive Surgical worth $126,806,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ISRG. RB Capital Management LLC increased its stake in Intuitive Surgical by 4.4% in the first quarter. RB Capital Management LLC now owns 1,735 shares of the medical equipment provider’s stock valued at $523,000 after acquiring an additional 73 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Intuitive Surgical by 0.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 946,709 shares of the medical equipment provider’s stock valued at $285,603,000 after acquiring an additional 5,233 shares during the period. Baird Financial Group Inc. boosted its position in Intuitive Surgical by 2.3% in the first quarter. Baird Financial Group Inc. now owns 21,089 shares of the medical equipment provider’s stock valued at $6,362,000 after buying an additional 481 shares in the last quarter. Brown Brothers Harriman & Co. increased its holdings in shares of Intuitive Surgical by 576.7% during the first quarter. Brown Brothers Harriman & Co. now owns 406 shares of the medical equipment provider’s stock worth $122,000 after buying an additional 346 shares in the last quarter. Finally, Covestor Ltd increased its holdings in shares of Intuitive Surgical by 50.4% during the first quarter. Covestor Ltd now owns 418 shares of the medical equipment provider’s stock worth $126,000 after buying an additional 140 shares in the last quarter. Institutional investors own 81.96% of the company’s stock.

Intuitive Surgical Stock Performance

ISRG opened at $313.64 on Tuesday. The firm’s fifty day moving average is $295.96 and its two-hundred day moving average is $267.91. The firm has a market cap of $109.90 billion, a PE ratio of 85.69, a price-to-earnings-growth ratio of 5.59 and a beta of 1.31. Intuitive Surgical, Inc. has a twelve month low of $180.07 and a twelve month high of $318.92.

Intuitive Surgical (NASDAQ:ISRG – Get Rating) last posted its earnings results on Tuesday, April 18th. The medical equipment provider reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.03. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.59 billion. Intuitive Surgical had a net margin of 20.40% and a return on equity of 11.39%. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period last year, the business posted $1.00 earnings per share. Equities analysts forecast that Intuitive Surgical, Inc. will post 4.3 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Fredrik Widman sold 630 shares of the firm’s stock in a transaction on Friday, April 21st. The shares were sold at an average price of $297.87, for a total transaction of $187,658.10. Following the sale, the vice president now directly owns 2,233 shares in the company, valued at $665,143.71. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP Fredrik Widman sold 630 shares of the firm’s stock in a transaction on Friday, April 21st. The shares were sold at an average price of $297.87, for a total transaction of $187,658.10. Following the sale, the vice president now directly owns 2,233 shares in the company, valued at $665,143.71. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark J. Rubash sold 7,323 shares of Intuitive Surgical stock in a transaction on Friday, April 28th. The shares were sold at an average price of $300.00, for a total transaction of $2,196,900.00. Following the completion of the sale, the director now owns 15,482 shares in the company, valued at $4,644,600. The disclosure for this sale can be found here. Insiders have sold a total of 60,023 shares of company stock worth $17,967,137 over the last ninety days. Company insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on ISRG shares. Raymond James raised their price objective on shares of Intuitive Surgical from $270.00 to $323.00 and gave the stock an “outperform” rating in a report on Wednesday, April 19th. Stifel Nicolaus raised their price objective on shares of Intuitive Surgical from $285.00 to $315.00 and gave the stock a “buy” rating in a report on Wednesday, April 19th. Barclays raised their price objective on shares of Intuitive Surgical from $298.00 to $314.00 and gave the stock an “overweight” rating in a report on Wednesday, April 19th. William Blair assumed coverage on shares of Intuitive Surgical in a report on Thursday, March 23rd. They set an “outperform” rating for the company. Finally, Citigroup increased their price target on shares of Intuitive Surgical from $305.00 to $317.00 and gave the company a “buy” rating in a research note on Wednesday, April 19th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $303.35.

About Intuitive Surgical

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Intuitive Surgical, Inc engages in the provision of robotic-assisted surgical solutions and invasive care through a comprehensive ecosystem of products and services. Its products include Da Vinci Surgical and Ion Endoluminal systems. The company was founded by Frederic H. Moll, John Gordon Freund, and Robert G.

Institutional Ownership by Quarter for Intuitive Surgical (NASDAQ:ISRG)

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