Banque Cantonale Vaudoise Sells 3,471 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Banque Cantonale Vaudoise reduced its Intuitive Surgical stake by 23.4% in the fourth quarter, selling 3,471 shares and leaving it with 11,345 shares worth about $6.43 million.
• Intuitive Surgical reported strong quarterly results, with EPS of $2.50 beating estimates by $0.42 and revenue of $2.77 billion topping expectations, up 23% year over year.
• Despite some insider selling and several analysts trimming price targets, Wall Street sentiment remains constructive overall, with a Moderate Buy consensus and a target price of $579.33.

Banque Cantonale Vaudoise cut its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 23.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,345 shares of the medical equipment provider's stock after selling 3,471 shares during the period. Banque Cantonale Vaudoise's holdings in Intuitive Surgical were worth $6,426,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Brighton Jones LLC grew its position in Intuitive Surgical by 24.9% in the fourth quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider's stock valued at $1,916,000 after acquiring an additional 731 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in shares of Intuitive Surgical by 3.8% during the second quarter. Sivia Capital Partners LLC now owns 928 shares of the medical equipment provider's stock worth $504,000 after buying an additional 34 shares in the last quarter. Schnieders Capital Management LLC. raised its position in Intuitive Surgical by 38.0% in the second quarter. Schnieders Capital Management LLC. now owns 973 shares of the medical equipment provider's stock valued at $529,000 after purchasing an additional 268 shares during the last quarter. Osterweis Capital Management Inc. acquired a new position in shares of Intuitive Surgical in the second quarter valued at approximately $200,000. Finally, Main Street Financial Solutions LLC raised its holdings in Intuitive Surgical by 92.4% in the 2nd quarter. Main Street Financial Solutions LLC now owns 2,929 shares of the medical equipment provider's stock valued at $1,592,000 after buying an additional 1,407 shares during the last quarter. Institutional investors and hedge funds own 83.64% of the company's stock.

Intuitive Surgical Trading Up 0.4%

Shares of NASDAQ ISRG opened at $441.58 on Wednesday. The firm has a market capitalization of $156.39 billion, a P/E ratio of 53.52, a P/E/G ratio of 3.51 and a beta of 1.51. The firm's 50-day moving average price is $461.52 and its 200-day moving average price is $512.36. Intuitive Surgical, Inc. has a 1-year low of $417.74 and a 1-year high of $603.88.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 EPS for the quarter, beating the consensus estimate of $2.08 by $0.42. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same period last year, the business posted $1.81 EPS. The firm's revenue for the quarter was up 23.0% compared to the same quarter last year. Equities research analysts forecast that Intuitive Surgical, Inc. will post 8.57 EPS for the current year.

Insider Buying and Selling at Intuitive Surgical

In other news, EVP Myriam Curet sold 105 shares of Intuitive Surgical stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $493.95, for a total transaction of $51,864.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Mark Brosius sold 645 shares of the business's stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $485.01, for a total transaction of $312,831.45. Following the sale, the senior vice president directly owned 1,613 shares of the company's stock, valued at approximately $782,321.13. The trade was a 28.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 5,647 shares of company stock worth $2,760,359 in the last ninety days. 0.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ISRG. Piper Sandler decreased their price target on shares of Intuitive Surgical from $620.00 to $580.00 and set an "overweight" rating for the company in a research report on Wednesday, April 22nd. Barclays set a $651.00 price objective on shares of Intuitive Surgical and gave the stock an "overweight" rating in a research note on Thursday, April 23rd. HSBC decreased their price target 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. Raymond James Financial dropped their price target on shares of Intuitive Surgical from $615.00 to $577.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 22nd. Finally, TD Cowen reduced their price objective on shares of Intuitive Surgical from $660.00 to $585.00 and set a "buy" rating on the stock in a research note on Wednesday, April 22nd. Nineteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $579.33.

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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