6,601 Shares of Intuitive Surgical, Inc. $ISRG Purchased by Bell Asset Management Ltd

Key Points

• Bell Asset Management purchased 6,601 Intuitive Surgical shares in the third quarter, valued at approximately $2.68 million. Institutional investors collectively own 83.64% of ISRG.
• Analysts maintain a broadly positive outlook, with a consensus “Moderate Buy” rating and an average price target of $502.53, despite some target-price reductions and valuation concerns.
• Intuitive Surgical reported quarterly revenue of $2.89 billion and earnings of $2.80 per share, beating estimates, while revenue increased 18.4% year over year. Investors are also watching the da Vinci SP platform’s growth, competition, and the stock’s elevated valuation.

Bell Asset Management Ltd purchased a new position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 6,601 shares of the medical equipment provider's stock, valued at approximately $2,684,000.

A number of other institutional investors and hedge funds have also modified their holdings of ISRG. CoreCap Advisors LLC grew its holdings in Intuitive Surgical by 2.8% during the 3rd quarter. CoreCap Advisors LLC now owns 1,299 shares of the medical equipment provider's stock worth $528,000 after acquiring an additional 35 shares during the period. YHB Investment Advisors Inc. lifted its stake in shares of Intuitive Surgical by 2.2% in the 3rd quarter. YHB Investment Advisors Inc. now owns 23,672 shares of the medical equipment provider's stock valued at $9,626,000 after purchasing an additional 510 shares during the period. Apella Capital LLC boosted its position in shares of Intuitive Surgical by 162.8% in the 3rd quarter. Apella Capital LLC now owns 3,230 shares of the medical equipment provider's stock worth $1,339,000 after purchasing an additional 2,001 shares during the last quarter. Gradient Investments LLC boosted its position in shares of Intuitive Surgical by 5.5% in the 3rd quarter. Gradient Investments LLC now owns 50,280 shares of the medical equipment provider's stock worth $20,445,000 after purchasing an additional 2,640 shares during the last quarter. Finally, Avidian Wealth Enterprises LLC grew its stake in shares of Intuitive Surgical by 28.5% during the third quarter. Avidian Wealth Enterprises LLC now owns 1,904 shares of the medical equipment provider's stock worth $774,000 after purchasing an additional 422 shares during the period. 83.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. BTIG Research reiterated a "buy" rating and issued a $469.00 price target on shares of Intuitive Surgical in a research report on Tuesday, September 8th. Robert W. Baird decreased their price objective on shares of Intuitive Surgical from $525.00 to $500.00 and set an "outperform" rating for the company in a report on Friday, July 17th. Barclays raised shares of Intuitive Surgical to a "strong-buy" rating in a research note on Wednesday. Mizuho set a $500.00 price target on shares of Intuitive Surgical and gave the stock a "neutral" rating in a research report on Wednesday, July 15th. Finally, Stifel Nicolaus reduced their price target on shares of Intuitive Surgical from $670.00 to $550.00 and set a "buy" rating on the stock in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $502.53.

Key Stories Impacting Intuitive Surgical

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

• Positive Sentiment: Analyst support is strengthening. Piper Sandler initiated or reiterated a Buy rating, while Barclays upgraded Intuitive Surgical to Strong Buy after previously starting coverage at Overweight. Citi has also maintained a Buy view. The cluster of bullish ratings is likely supporting investor confidence ahead of earnings. Piper Sandler Buy article Barclays upgrade article
• Positive Sentiment: Growth expectations remain favorable. Investors are anticipating the October 20 earnings report, with expectations for year-over-year gains in revenue and earnings per share. Intuitive Surgical’s recurring procedure and instrument revenue streams continue to make it attractive despite a softer medical-device market. Barclays bullish initiation article
• Positive Sentiment: The da Vinci SP platform is gaining traction. Rising procedures, utilization and system placements, along with expanding indications and international adoption, could make the single-port platform an important future growth franchise. Single-port platform article
• Neutral Sentiment: Analyst consensus is supportive but imperfect. The average brokerage recommendation favors buying ISRG, though the articles caution that sell-side ratings can be overly optimistic and should not be used alone to make an investment decision. Wall Street analyst consensus article
• Negative Sentiment: Competition and valuation remain risks. Commentary raised concerns about rivals including Johnson & Johnson and noted that the stock’s elevated earnings multiple leaves less room for disappointment. Jim Cramer questioned whether Intuitive Surgical’s competitive advantages can persist as more companies enter robotic surgery. Competition concerns article

Intuitive Surgical Trading Up 0.2%

ISRG opened at $415.41 on Friday. The stock has a market capitalization of $146.76 billion, a P/E ratio of 47.58, a P/E/G ratio of 3.13 and a beta of 1.46. Intuitive Surgical, Inc. has a 12 month low of $328.57 and a 12 month high of $603.88. The firm's fifty day simple moving average is $384.95 and its 200 day simple moving average is $411.17.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly earnings data on Thursday, July 16th. The medical equipment provider reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.32. Intuitive Surgical had a return on equity of 16.91% and a net margin of 28.45%.The company had revenue of $2.89 billion during the quarter, compared to analysts' expectations of $2.83 billion. During the same period in the prior year, the firm earned $1.81 earnings per share. Intuitive Surgical's revenue for the quarter was up 18.4% compared to the same quarter last year. On average, equities research analysts predict that Intuitive Surgical, Inc. will post 8.87 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Mark Brosius sold 77 shares of the firm's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $375.57, for a total value of $28,918.89. Following the completion of the transaction, the executive vice president owned 881 shares of the company's stock, valued at approximately $330,877.17. This trade represents a 8.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 72 shares of Intuitive Surgical stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $393.10, for a total transaction of $28,303.20. Following the completion of the sale, the director owned 179 shares in the company, valued at $70,364.90. The trade was a 28.69% 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. Insiders sold 12,370 shares of company stock valued at $4,891,989 over the last ninety days. Insiders own 0.60% of the company's stock.

About Intuitive Surgical

Intuitive Surgical, Inc develops and commercializes robotic-assisted systems and related technologies designed to support minimally invasive medical procedures. The company's products are intended to help surgeons perform operations through small incisions while providing enhanced visualization, precision, and control.

Its principal product is the da Vinci Surgical System, a platform used across a range of specialties, including general surgery, urology, gynecology, thoracic surgery, and cardiac procedures.

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