Winslow Capital Management LLC has increased its ownership in Intuitive Surgical, Inc. (NASDAQ: ISRG) by 20.2% in the second quarter of 2023, according to a report from HoldingsChannel.com. The investment firm now holds 1,342,473 shares of the medical equipment company after acquiring an additional 225,545 shares during this period. Intuitive Surgical now constitutes approximately 2.4% of Winslow’s total portfolio, ranking as its 13th largest holding. As of the latest filing with the Securities and Exchange Commission (SEC), the value of Winslow’s stake in Intuitive Surgical is approximately $729.5 million.
Several other institutional investors have also adjusted their positions in Intuitive Surgical. Vanguard Group Inc. increased its holdings by 2.1% during the same quarter, now owning 33,335,833 shares valued at $18.12 billion. Geode Capital Management LLC raised its stake by 1.4%, bringing its total to 8,188,685 shares worth about $4.43 billion. Norges Bank made a notable entry into the company with a new stake valued at approximately $2.57 billion. Invesco Ltd. also expanded its position, lifting its holdings by 4.8% to own 4,421,133 shares, valued at $2.40 billion. Northern Trust Corp. slightly increased its stake by 0.3%, now holding 3,631,281 shares worth about $1.80 billion. Together, institutional investors own 83.64% of Intuitive Surgical’s stock.
Recent Insider Transactions
In recent developments, CEO David J. Rosa sold 24,500 shares of Intuitive Surgical stock on October 24, 2023, at an average price of $547.55, amounting to a total of $13.41 million. Following this sale, Rosa retained 234,256 shares, valued at approximately $128.27 million. This transaction represents a 9.47% reduction in his ownership.
Additionally, Executive Vice President Henry L. Charlton sold 13,731 shares on November 12, 2023, at an average price of $580.00, totaling $7.96 million. After this sale, Charlton holds 3,056 shares worth around $1.77 million, reflecting an 81.80% decrease in his ownership. Over the past ninety days, company insiders have sold 108,939 shares, valued at approximately $60.76 million.
Market Performance and Analyst Outlook
On October 21, 2023, Intuitive Surgical reported earnings showing an earnings per share (EPS) of $2.40, exceeding analysts’ expectations of $1.99 by $0.41. The company’s revenue for the quarter reached $2.51 billion, surpassing estimates of $2.41 billion, and marking a 22.9% increase compared to the same quarter in the previous year. Intuitive Surgical has a market capitalization of $206.25 billion, a price-to-earnings ratio of 76.10, and a beta of 1.68.
The stock opened at $575.34 on the latest trading day. Its 50-day moving average stands at $518.60, while the 200-day moving average is at $505.04. The company’s stock has seen a fifty-two week range of $425.00 to $616.00.
Research analysts predict that Intuitive Surgical will achieve an EPS of $6.43 for the current year, reflecting ongoing confidence in the company’s growth potential. Intuitive Surgical, Inc. specializes in developing, manufacturing, and marketing products designed to improve minimally invasive surgical practices, including the renowned da Vinci Surgical System and the Ion endoluminal system for diagnostic procedures.
As the healthcare sector continues to evolve, Intuitive Surgical remains at the forefront, enhancing access to advanced medical technologies globally.
