5,044,472 Shares in Intuitive Surgical, Inc. $ISRG Bought by Norges Bank

Key Points

• Norges Bank opened a large new position in Intuitive Surgical, buying 5,044,472 shares worth about $2.86 billion in the fourth quarter and ending with roughly 1.42% ownership of the company.
• Institutional ownership remains high, with 83.64% of shares held by institutions. Several other investors also added stakes, while insiders sold shares over the last three months.
• Analysts remain broadly positive despite some mixed ratings changes: Intuitive Surgical has a Moderate Buy consensus and an average price target of $576.71, while the stock recently traded around $424.59 after reporting better-than-expected quarterly earnings and revenue growth.

Norges Bank acquired a new position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 5,044,472 shares of the medical equipment provider's stock, valued at approximately $2,856,987,000. Norges Bank owned about 1.42% of Intuitive Surgical at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Eurizon SLJ Capital Ltd acquired a new position in Intuitive Surgical during the 4th quarter worth $502,000. Eurizon Capital SGR S.p.A. acquired a new position in Intuitive Surgical during the 4th quarter worth $128,693,000. JTC Employer Solutions Trustee Ltd acquired a new position in Intuitive Surgical during the 4th quarter worth $227,000. Fideuram Asset Management Ireland dac acquired a new position in Intuitive Surgical during the 4th quarter worth $5,035,000. Finally, FUKOKU MUTUAL LIFE INSURANCE Co boosted its position in Intuitive Surgical by 68.9% during the 4th quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 2,894 shares of the medical equipment provider's stock worth $1,639,000 after acquiring an additional 1,181 shares during the period. 83.64% of the stock is currently owned by institutional investors.

Insider Transactions at Intuitive Surgical

In other news, EVP Myriam Curet sold 105 shares of the company's stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $493.95, for a total transaction of $51,864.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Amy L. Ladd sold 119 shares of the company's stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $463.50, for a total value of $55,156.50. Following the sale, the director directly owned 120 shares of the company's stock, valued at approximately $55,620. This represents a 49.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 5,481 shares of company stock worth $2,673,871. Corporate insiders own 0.60% of the company's stock.

Analyst Ratings Changes

ISRG has been the subject of a number of analyst reports. Wall Street Zen lowered Intuitive Surgical from a "buy" rating to a "hold" rating in a research report on Sunday, May 24th. Mizuho set a $525.00 price target on Intuitive Surgical and gave the stock a "neutral" rating in a research report on Monday, April 13th. Citigroup upgraded Intuitive Surgical from a "neutral" rating to a "buy" rating and set a $590.00 price target for the company in a research report on Wednesday, March 11th. Evercore reduced their price target on Intuitive Surgical from $550.00 to $480.00 and set a "neutral" rating for the company in a research report on Monday, April 6th. Finally, BTIG Research reiterated a "buy" rating and set a $574.00 price target on shares of Intuitive Surgical in a research report on Wednesday, April 22nd. Nineteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Intuitive Surgical currently has an average rating of "Moderate Buy" and a consensus price target of $576.71.

Intuitive Surgical Stock Up 0.2%

Shares of Intuitive Surgical stock opened at $424.59 on Friday. The firm has a market cap of $150.37 billion, a price-to-earnings ratio of 51.47, a price-to-earnings-growth ratio of 3.38 and a beta of 1.51. The business has a fifty day simple moving average of $453.54 and a 200-day simple moving average of $506.43. Intuitive Surgical, Inc. has a fifty-two week low of $414.30 and a fifty-two week high of $603.88.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.42. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.62 billion. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The company's revenue was up 23.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.81 earnings per share. Analysts anticipate that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current fiscal year.

Key Intuitive Surgical News

Here are the key news stories impacting Intuitive Surgical this week:

• Positive Sentiment: Wall Street optimism is supporting the stock, with one article arguing Intuitive Surgical could rise more than 30% from current levels because analysts believe the long-term growth story remains intact and the recent selloff has created an attractive entry point. Article Title
• Positive Sentiment: Intuitive Surgical announced a leadership change in commercial and marketing, promoting Taylor Patton to Chief Commercial and Marketing Officer effective July 1, which may be viewed as a continuity move that could support execution and sales strategy. Article Title
• Neutral Sentiment: Market commentary noted the stock is still trading well below its recent high, underscoring that investor caution remains elevated even though the company continues to be viewed as a leader in robotic-assisted surgery. Article Title
• Neutral Sentiment: Third-party market reports described ISRG as underperforming peers and highlighted recent short-interest data, but the figures did not show a clear new bearish catalyst. Article Title
• Neutral Sentiment: Intuitive Surgical also appeared in broader “physical AI” and robotics commentary, which is more of a thematic mention than a company-specific catalyst for the stock. Article Title

Intuitive Surgical Profile

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon's hand movements into finer, scaled motions of small instruments inside the patient. Intuitive's business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.

Want to see what other hedge funds are holding ISRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.