ABN AMRO Bank N.V. Has $18.89 Million Position in Intuitive Surgical, Inc. $ISRG

Key Points

• ABN AMRO Bank N.V. reduced its Intuitive Surgical stake by 37.1% in the first quarter, selling 23,961 shares and leaving it with 40,572 shares worth about $18.89 million.
• Intuitive Surgical reported strong quarterly results, with EPS of $2.50 beating estimates and revenue of $2.77 billion topping expectations, while revenue rose 23% year over year.
• Analyst sentiment remains positive overall, with a consensus rating of “Moderate Buy” and an average price target of $573.42, though several firms have recently lowered their targets.

ABN AMRO Bank N.V. cut its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 37.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,572 shares of the medical equipment provider's stock after selling 23,961 shares during the quarter. ABN AMRO Bank N.V.'s holdings in Intuitive Surgical were worth $18,894,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ISRG. Riversedge Advisors LLC grew its stake in shares of Intuitive Surgical by 1.9% in the fourth quarter. Riversedge Advisors LLC now owns 901 shares of the medical equipment provider's stock valued at $510,000 after buying an additional 17 shares in the last quarter. Fiduciary Financial Group LLC raised its position in Intuitive Surgical by 2.1% during the fourth quarter. Fiduciary Financial Group LLC now owns 920 shares of the medical equipment provider's stock worth $521,000 after acquiring an additional 19 shares in the last quarter. Prosperity Consulting Group LLC raised its position in Intuitive Surgical by 0.5% during the third quarter. Prosperity Consulting Group LLC now owns 4,033 shares of the medical equipment provider's stock worth $1,804,000 after acquiring an additional 19 shares in the last quarter. Sunburst Financial Group LLC lifted its stake in Intuitive Surgical by 4.3% in the fourth quarter. Sunburst Financial Group LLC now owns 485 shares of the medical equipment provider's stock valued at $275,000 after acquiring an additional 20 shares during the last quarter. Finally, WoodTrust Financial Corp lifted its stake in Intuitive Surgical by 0.5% in the fourth quarter. WoodTrust Financial Corp now owns 4,180 shares of the medical equipment provider's stock valued at $2,367,000 after acquiring an additional 20 shares during the last quarter. Institutional investors own 83.64% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of Intuitive Surgical in a research note on Tuesday, May 19th. Barclays set a $651.00 price target on Intuitive Surgical and gave the stock an "overweight" rating in a research report on Thursday, April 23rd. Raymond James Financial cut their price objective on Intuitive Surgical from $615.00 to $577.00 and set an "outperform" rating for the company in a research report on Wednesday, April 22nd. HSBC reduced their target price on Intuitive Surgical from $653.00 to $604.00 and set a "buy" rating for the company in a research note on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. decreased their target price on Intuitive Surgical from $625.00 to $550.00 and set an "overweight" rating on the stock in a report on Wednesday, April 22nd. Nineteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $573.42.

Intuitive Surgical Stock Performance

Shares of NASDAQ ISRG opened at $404.70 on Friday. Intuitive Surgical, Inc. has a 52 week low of $396.68 and a 52 week high of $603.88. The stock has a market capitalization of $143.33 billion, a P/E ratio of 49.05, a PEG ratio of 3.29 and a beta of 1.46. The stock's fifty day moving average is $432.67 and its 200 day moving average is $484.61.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.08 by $0.42. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same period in the prior year, the company posted $1.81 earnings per share. The business's revenue for the quarter was up 23.0% on a year-over-year basis. Equities research analysts forecast that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current year.

Insider Buying and Selling at Intuitive Surgical

In other news, Director Amy L. Ladd sold 119 shares of Intuitive Surgical stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $463.50, for a total value of $55,156.50. Following the transaction, the director owned 120 shares in the company, valued at approximately $55,620. This trade represents a 49.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of the company's stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total value of $169,656.00. Following the sale, the executive vice president owned 5,720 shares of the company's stock, valued at approximately $2,426,080.80. This represents a 6.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 7,169 shares of company stock valued at $3,059,135. 0.60% of the stock is currently owned by corporate insiders.

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.

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