BI Asset Management Fondsmaeglerselskab A S Buys 5,992 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its stake in Intuitive Surgical by 10.5% in the first quarter, buying 5,992 more shares and bringing its total holding to 62,795 shares worth about $28.95 million.
• Intuitive Surgical reported better-than-expected quarterly results, with EPS of $2.50 versus the $2.08 estimate and revenue of $2.77 billion, up 23% year over year.
• Despite strong results, the stock has pulled back, opening at $406.78 with a 52-week range of $396.68 to $603.88, while analysts still rate it a Moderate Buy with an average target price of $573.42.

BI Asset Management Fondsmaeglerselskab A S raised its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 10.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 62,795 shares of the medical equipment provider's stock after purchasing an additional 5,992 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Intuitive Surgical were worth $28,948,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Draper Asset Management LLC increased its stake in 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 valued at $2,848,000 after buying an additional 1,485 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of Intuitive Surgical by 9.6% in 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 during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Intuitive Surgical by 29.3% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 71,077 shares of the medical equipment provider's stock worth $40,255,000 after buying an additional 16,119 shares during the last quarter. Procyon Advisors LLC boosted its stake in shares of Intuitive Surgical by 787.8% in the 4th quarter. Procyon Advisors LLC now owns 4,794 shares of the medical equipment provider's stock worth $2,715,000 after buying an additional 4,254 shares during the last quarter. Finally, Robinhood Asset Management LLC bought a new position in shares of Intuitive Surgical in the fourth quarter valued at approximately $6,478,000. Institutional investors own 83.64% of the company's stock.

Intuitive Surgical Price Performance

Shares of ISRG stock opened at $406.78 on Friday. The firm has a market cap of $144.07 billion, a P/E ratio of 49.31, a PEG ratio of 3.31 and a beta of 1.46. The company has a 50 day moving average of $438.43 and a 200-day moving average of $490.46. Intuitive Surgical, Inc. has a 12-month low of $396.68 and a 12-month high of $603.88.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the prior year, the business earned $1.81 earnings per share. Intuitive Surgical's revenue for the quarter was up 23.0% on a year-over-year basis. As a group, equities analysts expect that Intuitive Surgical, Inc. will post 8.57 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on ISRG. Leerink Partners decreased their price target on Intuitive Surgical from $622.00 to $573.00 and set an "outperform" rating for the company in a research report on Wednesday, April 22nd. Barclays set a $651.00 price objective on Intuitive Surgical and gave the stock an "overweight" rating in a research report on Thursday, April 23rd. Raymond James Financial reduced their price objective on Intuitive Surgical from $615.00 to $577.00 and set an "outperform" rating for the company in a research note on Wednesday, April 22nd. Robert W. Baird raised their target price on Intuitive Surgical from $575.00 to $610.00 and gave the company an "outperform" rating in a research report on Wednesday, April 22nd. Finally, Truist Financial lowered their target price on Intuitive Surgical from $650.00 to $580.00 and set a "buy" rating on the stock in a research note on Wednesday, April 15th. Nineteen investment 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's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $573.42.

Insider Buying and Selling at Intuitive Surgical

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

Intuitive Surgical Company 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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