AIA Group Ltd Sells 8,950 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• AIA Group cut its Intuitive Surgical stake by 17.2%, selling 8,950 shares in the third quarter; it retained 42,977 shares valued at about $17.5 million.
• Intuitive Surgical reported quarterly EPS of $3.00, beating the $2.65 consensus, while revenue rose 21.7% year over year to $3.05 billion.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $493.54.

AIA Group Ltd trimmed its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 17.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 42,977 shares of the medical equipment provider's stock after selling 8,950 shares during the quarter. AIA Group Ltd's holdings in Intuitive Surgical were worth $17,476,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ISRG. Bank of America Corp DE increased its holdings in Intuitive Surgical by 3.3% in the first quarter. Bank of America Corp DE now owns 3,616,973 shares of the medical equipment provider's stock worth $1,667,388,000 after buying an additional 116,292 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Intuitive Surgical during the second quarter valued at approximately $1,335,753,000. Amundi raised its position in Intuitive Surgical by 8.6% during the first quarter. Amundi now owns 2,428,356 shares of the medical equipment provider's stock valued at $1,119,448,000 after acquiring an additional 193,096 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Intuitive Surgical by 95.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,105,544 shares of the medical equipment provider's stock valued at $970,635,000 after acquiring an additional 1,027,475 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in Intuitive Surgical by 10.8% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,893,485 shares of the medical equipment provider's stock valued at $769,948,000 after acquiring an additional 184,044 shares during the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.

Intuitive Surgical Stock Up 0.9%

NASDAQ:ISRG opened at $440.75 on Wednesday. Intuitive Surgical, Inc. has a 12-month low of $328.57 and a 12-month high of $603.88. The stock's fifty day simple moving average is $404.05 and its 200-day simple moving average is $432.90. The firm has a market capitalization of $152.78 billion, a P/E ratio of 48.98, a P/E/G ratio of 3.01 and a beta of 1.45.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued its quarterly earnings data on Tuesday, October 20th. The medical equipment provider reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.65 by $0.35. Intuitive Surgical had a net margin of 25.54% and a return on equity of 18.17%. The company had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $2.91 billion. During the same quarter in the prior year, the firm earned $2.40 earnings per share. The firm's revenue was up 21.7% compared to the same quarter last year. As a group, equities research analysts expect that Intuitive Surgical, Inc. will post 9.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Wall Street Zen raised shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a research report on Saturday. Wells Fargo & Company reiterated an "overweight" rating and issued a $486.00 price objective (down from $487.00) on shares of Intuitive Surgical in a research note on Wednesday, October 21st. Sanford C. Bernstein reissued an "outperform" rating on shares of Intuitive Surgical in a research report on Wednesday, August 12th. BMO Capital Markets restated an "outperform" rating on shares of Intuitive Surgical in a research note on Monday, July 20th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Intuitive Surgical in a report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $493.54.

Insider Buying and Selling at Intuitive Surgical

In other news, Director Gary Guthart sold 20,095 shares of the business's stock in a transaction that occurred on Friday, October 23rd. The shares were sold at an average price of $451.61, for a total value of $9,075,102.95. Following the completion of the transaction, the director directly owned 1,204,530 shares in the company, valued at approximately $543,977,793.30. The trade was a 1.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Craig Barratt sold 1,150 shares of the company's stock in a transaction that occurred on Friday, October 23rd. The stock was sold at an average price of $443.80, for a total transaction of $510,370.00. Following the transaction, the director owned 1,150 shares of the company's stock, valued at approximately $510,370. This represents a 50.00% 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. Insiders sold 38,778 shares of company stock valued at $16,814,967 in the last quarter. Company insiders own 0.60% of the company's stock.

Intuitive Surgical Company Profile

Intuitive Surgical, Inc develops and manufactures robotic-assisted systems and related technologies for minimally invasive surgery. Its products are designed to help surgeons perform procedures through small incisions while providing enhanced visualization, precision and control. The company's primary platform is the da Vinci Surgical System, which is used across a range of specialties, including urology, gynecology, general surgery, cardiothoracic surgery and other procedures.

The company also offers the Ion endoluminal system, which is designed to support minimally invasive lung biopsy procedures.

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