Allspring Global Investments Holdings LLC Sells 17,930 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Allspring Global Investments Holdings LLC has reduced its stake in Intuitive Surgical, Inc. by 5.9%, selling 17,930 shares during the second quarter, leaving it with an ownership of 286,841 shares valued at approximately $154.3 million.
• Intuitive Surgical reported $2.19 EPS for the last quarter, exceeding analysts' expectations of $1.93, with a 21.4% year-over-year revenue increase resulting in total revenue of $2.44 billion.
• Wall Street analysts have an average rating of "Moderate Buy" for Intuitive Surgical, with a consensus price target of $589.43, following recent target price adjustments by several firms.

Allspring Global Investments Holdings LLC reduced its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 5.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 286,841 shares of the medical equipment provider's stock after selling 17,930 shares during the period. Allspring Global Investments Holdings LLC owned 0.08% of Intuitive Surgical worth $154,318,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Chilton Capital Management LLC grew its position in shares of Intuitive Surgical by 614.3% in the first quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock valued at $25,000 after purchasing an additional 43 shares during the last quarter. Elite Financial Inc. bought a new position in Intuitive Surgical during the first quarter worth about $26,000. LFA Lugano Financial Advisors SA bought a new position in Intuitive Surgical during the first quarter worth about $30,000. TD Capital Management LLC lifted its stake in Intuitive Surgical by 300.0% during the first quarter. TD Capital Management LLC now owns 60 shares of the medical equipment provider's stock worth $30,000 after purchasing an additional 45 shares during the period. Finally, 1248 Management LLC bought a new position in shares of Intuitive Surgical in the first quarter valued at approximately $30,000. 83.64% of the stock is owned by institutional investors and hedge funds.

Intuitive Surgical Stock Performance

Shares of ISRG stock opened at $429.59 on Monday. The firm's 50-day moving average is $458.68 and its 200-day moving average is $497.84. The stock has a market cap of $154.00 billion, a price-to-earnings ratio of 59.91, a PEG ratio of 4.51 and a beta of 1.61. Intuitive Surgical, Inc. has a 52-week low of $425.00 and a 52-week high of $616.00.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.93 by $0.26. Intuitive Surgical had a net margin of 28.51% and a return on equity of 14.56%. The company had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.35 billion. During the same period in the prior year, the firm earned $1.78 EPS. Intuitive Surgical's quarterly revenue was up 21.4% compared to the same quarter last year. Sell-side analysts predict that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ISRG has been the subject of a number of research analyst reports. Evercore ISI cut their target price on shares of Intuitive Surgical from $535.00 to $450.00 and set an "in-line" rating for the company in a research note on Tuesday, October 7th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $615.00 target price on shares of Intuitive Surgical in a report on Tuesday, August 19th. Erste Group Bank reissued a "hold" rating on shares of Intuitive Surgical in a report on Wednesday, July 23rd. Zacks Research lowered shares of Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 20th. Finally, The Goldman Sachs Group reduced their target price on shares of Intuitive Surgical from $621.00 to $567.00 and set a "buy" rating for the company in a research note on Wednesday, October 1st. Fourteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Intuitive Surgical presently has an average rating of "Moderate Buy" and a consensus price target of $589.43.

Insider Activity at Intuitive Surgical

In related news, insider Gary S. Guthart sold 29,360 shares of the company's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $472.49, for a total value of $13,872,306.40. Following the transaction, the insider owned 19,827 shares in the company, valued at approximately $9,368,059.23. This represents a 59.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Amy L. Ladd sold 336 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $470.11, for a total transaction of $157,956.96. Following the transaction, the director owned 1,074 shares in the company, valued at approximately $504,898.14. The trade was a 23.83% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,224 shares of company stock worth $21,716,492. Insiders own 0.70% of the company's stock.

Intuitive Surgical Company Profile

Intuitive Surgical, Inc develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally. The company offers the da Vinci Surgical System that enables complex surgery using a minimally invasive approach; and Ion endoluminal system, which extends its commercial offerings beyond surgery into diagnostic procedures enabling minimally invasive biopsies in the lung.

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