Aware Super Pty Ltd as trustee of Aware Super Takes Position in Intuitive Surgical, Inc. $ISRG

Key Points

• Aware Super disclosed a new position in Intuitive Surgical during the first quarter, buying 33,028 shares valued at about $15.2 million.
• Intuitive Surgical reported strong quarterly results, beating earnings and revenue expectations, with revenue up 23% year over year to $2.77 billion and EPS of $2.50 versus a $2.08 estimate.
• Despite solid fundamentals, the stock has fallen sharply and is trading near its 52-week low as investors react to a cautious outlook, slower U.S. procedure growth, and several analysts trimming price targets while mostly keeping bullish ratings.

Aware Super Pty Ltd as trustee of Aware Super acquired a new position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 33,028 shares of the medical equipment provider's stock, valued at approximately $15,226,000.

A number of other hedge funds also recently bought and sold shares of ISRG. Draper Asset Management LLC raised its holdings in shares of Intuitive Surgical by 41.9% in the 4th quarter. Draper Asset Management LLC now owns 5,029 shares of the medical equipment provider's stock worth $2,848,000 after buying an additional 1,485 shares in the last quarter. Deutsche Bank AG lifted its position in Intuitive Surgical by 9.6% during the 4th quarter. Deutsche Bank AG now owns 1,522,191 shares of the medical equipment provider's stock worth $862,108,000 after buying an additional 132,966 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Intuitive Surgical by 29.3% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 71,077 shares of the medical equipment provider's stock valued at $40,255,000 after purchasing an additional 16,119 shares during the last quarter. Procyon Advisors LLC boosted its position in Intuitive Surgical by 787.8% in the 4th quarter. Procyon Advisors LLC now owns 4,794 shares of the medical equipment provider's stock valued at $2,715,000 after buying an additional 4,254 shares during the last quarter. Finally, Robinhood Asset Management LLC acquired a new stake in Intuitive Surgical in the fourth quarter worth about $6,478,000. 83.64% of the stock is currently owned by institutional investors.

Intuitive Surgical Stock Performance

Shares of ISRG opened at $345.42 on Friday. The stock has a fifty day moving average of $415.28 and a 200-day moving average of $467.88. Intuitive Surgical, Inc. has a 52 week low of $344.55 and a 52 week high of $603.88. The stock has a market capitalization of $122.33 billion, a price-to-earnings ratio of 39.57, a PEG ratio of 3.27 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.42. Intuitive Surgical had a return on equity of 17.09% and a net margin of 28.45%.The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the prior year, the firm posted $1.81 earnings per share. The firm's revenue was up 23.0% compared to the same quarter last year. As a group, equities analysts forecast that Intuitive Surgical, Inc. will post 8.57 EPS for the current year.

Insider Activity

In related news, SVP Iman Jeddi sold 5,625 shares of Intuitive Surgical stock in a transaction on Monday, June 1st. The shares were sold at an average price of $420.55, for a total transaction of $2,365,593.75. Following the completion of the transaction, the senior vice president owned 6,463 shares of the company's stock, valued at $2,718,014.65. This trade represents a 46.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 119 shares of the business's stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $463.50, for a total value of $55,156.50. Following the completion of the transaction, the director directly owned 120 shares in the company, valued at $55,620. This represents a 49.79% 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. Over the last quarter, insiders sold 7,169 shares of company stock valued at $3,059,135. Company insiders own 0.60% of the company's stock.

Key Headlines Impacting Intuitive Surgical

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

• Positive Sentiment: Intuitive Surgical reported stronger-than-expected Q2 revenue and earnings, helped by solid demand for its da Vinci robotic surgery systems and continued adoption of its products. Reuters article
• Positive Sentiment: The company still reported healthy procedure growth overall, with worldwide procedures rising and placements of robotic systems remaining strong, which supports the long-term investment case. Yahoo Finance article
• Neutral Sentiment: Several analysts lowered price targets after the report, but most kept bullish ratings such as overweight, buy, or outperform, suggesting Wall Street still sees meaningful upside despite the near-term pullback. Benzinga article
• Negative Sentiment: Management did not raise its forecast for procedure growth, and investors reacted badly to slower U.S. procedure growth and a cautious full-year outlook. Benzinga article
• Negative Sentiment: Reuters also noted concerns that changes to some insurance plans could reduce demand, adding to worries about slower U.S. growth and a softer near-term procedure trajectory. Reuters article

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Raymond James Financial restated an "outperform" rating and issued a $483.00 price target (down from $577.00) on shares of Intuitive Surgical in a research report on Friday. Citigroup reduced their price objective on Intuitive Surgical from $590.00 to $500.00 and set a "buy" rating for the company in a research report on Friday. The Goldman Sachs Group set a $558.00 price target on shares of Intuitive Surgical in a research report on Wednesday, May 27th. Bank of America decreased their target price on shares of Intuitive Surgical from $520.00 to $515.00 in a research note on Friday, June 12th. Finally, Robert W. Baird lowered their price target on Intuitive Surgical from $525.00 to $500.00 and set an "outperform" rating on the stock in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $523.46.

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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