Bessemer Group Inc. Sells 183,828 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Bessemer Group Inc. reduced its Intuitive Surgical stake by 19.0% in the fourth quarter, selling 183,828 shares and leaving it with 783,950 shares valued at about $444 million.
• Intuitive Surgical reported strong quarterly results, with EPS of $2.50 and revenue of $2.77 billion, both beating analyst expectations; revenue also rose 23% year over year.
• Despite recent stock weakness, analysts remain largely positive: the stock was down about 1% in Friday trading, while Wall Street’s consensus rating is Moderate Buy with a target price of $581.91.

Bessemer Group Inc. trimmed its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 19.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 783,950 shares of the medical equipment provider's stock after selling 183,828 shares during the quarter. Intuitive Surgical accounts for about 0.7% of Bessemer Group Inc.'s holdings, making the stock its 25th biggest holding. Bessemer Group Inc. owned approximately 0.22% of Intuitive Surgical worth $443,998,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ISRG. Brighton Jones LLC lifted its holdings in shares of Intuitive Surgical by 24.9% in the 4th quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider's stock worth $1,916,000 after acquiring an additional 731 shares during the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of Intuitive Surgical by 3.8% in the 2nd quarter. Sivia Capital Partners LLC now owns 928 shares of the medical equipment provider's stock worth $504,000 after acquiring an additional 34 shares during the last quarter. Schnieders Capital Management LLC. lifted its holdings in shares of Intuitive Surgical by 38.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 973 shares of the medical equipment provider's stock worth $529,000 after acquiring an additional 268 shares during the last quarter. Osterweis Capital Management Inc. bought a new stake in shares of Intuitive Surgical in the 2nd quarter worth approximately $200,000. Finally, Main Street Financial Solutions LLC lifted its holdings in shares of 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 worth $1,592,000 after acquiring an additional 1,407 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors.

Intuitive Surgical Stock Down 1.0%

Shares of NASDAQ ISRG opened at $428.06 on Friday. Intuitive Surgical, Inc. has a 52 week low of $417.74 and a 52 week high of $603.88. The firm's fifty day moving average is $465.23 and its 200 day moving average is $514.69. The company has a market cap of $151.60 billion, a price-to-earnings ratio of 51.89, a PEG ratio of 3.45 and a beta of 1.51.

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ISRG. Citigroup upgraded shares of Intuitive Surgical from a "neutral" rating to a "buy" rating and set a $590.00 price objective for the company in a report on Wednesday, March 11th. The Goldman Sachs Group lifted their target price on shares of Intuitive Surgical from $609.00 to $621.00 and gave the stock a "buy" rating in a research note on Wednesday, April 22nd. Piper Sandler decreased their target price on shares of Intuitive Surgical from $620.00 to $580.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 22nd. Jefferies Financial Group decreased their target price on shares of Intuitive Surgical from $560.00 to $515.00 and set a "hold" rating on the stock in a research note on Wednesday, April 22nd. Finally, Robert W. Baird lifted their target price on shares of Intuitive Surgical from $575.00 to $610.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 22nd. Eighteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Intuitive Surgical currently has a consensus rating of "Moderate Buy" and a consensus target price of $581.91.

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, Director Amy L. Ladd sold 500 shares of the business's stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $473.46, for a total transaction of $236,730.00. Following the transaction, the director directly owned 239 shares of the company's stock, valued at approximately $113,156.94. The trade was a 67.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Patricia L. Wadors sold 220 shares of the business's stock in a transaction on Friday, February 27th. The shares were sold at an average price of $499.71, for a total transaction of $109,936.20. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 5,647 shares of company stock worth $2,760,359. 0.60% of the stock is owned by corporate insiders.

About Intuitive Surgical

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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