Bowen Hanes & Co. Inc. Acquires 4,680 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Bowen Hanes & Co. Inc. increased its stake in Intuitive Surgical by 2.7% in the fourth quarter, buying 4,680 additional shares and bringing its total to 179,190 shares valued at about $101.5 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.
• Wall Street remains mixed on the stock: analysts still assign a Moderate Buy consensus overall, but several firms cut price targets, and Deutsche Bank recently lowered its target to $366 while keeping a Sell rating.

Bowen Hanes & Co. Inc. increased its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 2.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 179,190 shares of the medical equipment provider's stock after acquiring an additional 4,680 shares during the quarter. Intuitive Surgical makes up approximately 2.5% of Bowen Hanes & Co. Inc.'s holdings, making the stock its 8th biggest holding. Bowen Hanes & Co. Inc. owned 0.05% of Intuitive Surgical worth $101,486,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of ISRG. Norges Bank bought a new position in Intuitive Surgical in the 4th quarter worth about $2,856,987,000. Northwestern Mutual Wealth Management Co. grew its position in Intuitive Surgical by 1,043.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,342,121 shares of the medical equipment provider's stock worth $760,124,000 after purchasing an additional 1,224,734 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Intuitive Surgical by 106.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,533,771 shares of the medical equipment provider's stock worth $868,667,000 after purchasing an additional 791,516 shares during the last quarter. Amundi grew its position in Intuitive Surgical by 29.7% in the 3rd quarter. Amundi now owns 3,227,472 shares of the medical equipment provider's stock worth $1,451,362,000 after purchasing an additional 739,444 shares during the last quarter. Finally, Sands Capital Management LLC grew its position in Intuitive Surgical by 77.0% in the 3rd quarter. Sands Capital Management LLC now owns 1,341,109 shares of the medical equipment provider's stock worth $599,784,000 after purchasing an additional 583,539 shares during the last quarter. Institutional investors own 83.64% of the company's stock.

Insiders Place Their Bets

In related news, EVP Gary Loeb sold 400 shares of the company's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $446.95, for a total value of $178,780.00. Following the completion of the sale, the executive vice president owned 6,120 shares in the company, valued at approximately $2,735,334. This represents a 6.13% decrease in their position. The sale was disclosed in a legal filing 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, EVP Myriam Curet sold 105 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $493.95, for a total transaction of $51,864.75. The disclosure for this sale is available in the SEC filing. Insiders have sold 7,448 shares of company stock worth $3,224,404 in the last quarter. Corporate insiders own 0.60% of the company's stock.

Intuitive Surgical Stock Performance

Shares of NASDAQ:ISRG opened at $407.29 on Thursday. The company has a market cap of $144.25 billion, a PE ratio of 49.37, a price-to-earnings-growth ratio of 3.21 and a beta of 1.46. Intuitive Surgical, Inc. has a 52 week low of $396.68 and a 52 week high of $603.88. The firm has a 50 day simple moving average of $449.26 and a 200 day simple moving average of $502.50.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued its quarterly 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. The business had revenue of $2.77 billion during 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 quarterly revenue was up 23.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.81 EPS. On average, equities analysts predict that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have commented on ISRG. JPMorgan Chase & Co. decreased their target price on shares of Intuitive Surgical from $625.00 to $550.00 and set an "overweight" rating for the company in a research report on Wednesday, April 22nd. The Goldman Sachs Group set a $558.00 price objective on shares of Intuitive Surgical in a report on Wednesday, May 27th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Intuitive Surgical from $440.00 to $366.00 and set a "sell" rating for the company in a report on Tuesday. Evercore decreased their price objective on shares of Intuitive Surgical from $550.00 to $480.00 and set a "neutral" rating for the company in a report on Monday, April 6th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Intuitive Surgical in a report on Tuesday, May 19th. Nineteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Intuitive Surgical presently has an average rating of "Moderate Buy" and an average target price of $573.63.

Trending Headlines about Intuitive Surgical

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

• Positive Sentiment: Piper Sandler reiterated its Buy rating on Intuitive Surgical, which helps support the case that Wall Street still sees upside in the company’s robotic surgery franchise. Article Title
• Positive Sentiment: Commentary highlighted Intuitive Surgical’s AI-driven digital roadmap and da Vinci 5 adoption as potential long-term growth drivers, suggesting its robotics ecosystem still has room to expand. Article Title
• Neutral Sentiment: Several articles simply noted that ISRG has been a weak performer recently and raised the question of a rebound; these pieces did not provide a fresh catalyst. Article Title
• Negative Sentiment: Deutsche Bank cut its price target on Intuitive Surgical to $366 from $440 and kept a Sell rating, reinforcing concerns that the shares may still have downside from current levels. Article Title
• Negative Sentiment: SVP Iman Jeddi sold 5,625 shares in a pre-arranged 10b5-1 transaction, which can still weigh on sentiment because it reduces insider ownership and may be viewed cautiously by investors. Article Title
• Negative Sentiment: Market coverage also said ISRG underperformed peers and the broader healthcare group, adding to the narrative that the stock has lost momentum recently. Article Title

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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