C WorldWide Group Holding A S Sells 16,000 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• C WorldWide Group Holding A S cut its Intuitive Surgical stake by 17% in the fourth quarter, selling 16,000 shares and ending with 78,311 shares worth about $44.35 million.
• Insider selling has also been notable, with executives including Myriam Curet and Mark Brosius selling shares; insiders sold 5,906 shares worth about $2.91 million over the last three months.
• Wall Street remains constructive on ISRG despite some lowered price targets, with analysts rating the stock a Moderate Buy and an average target price of $581.91; the company also recently beat quarterly EPS and revenue estimates.

C WorldWide Group Holding A S lessened its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 17.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 78,311 shares of the medical equipment provider's stock after selling 16,000 shares during the quarter. Intuitive Surgical makes up approximately 0.8% of C WorldWide Group Holding A S's portfolio, making the stock its 21st largest holding. C WorldWide Group Holding A S's holdings in Intuitive Surgical were worth $44,352,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Riversedge Advisors LLC raised its position in Intuitive Surgical by 1.9% during the fourth quarter. Riversedge Advisors LLC now owns 901 shares of the medical equipment provider's stock valued at $510,000 after acquiring an additional 17 shares in the last quarter. Fiduciary Financial Group LLC raised its position in Intuitive Surgical by 2.1% during the fourth quarter. Fiduciary Financial Group LLC now owns 920 shares of the medical equipment provider's stock valued at $521,000 after acquiring an additional 19 shares in the last quarter. Prosperity Consulting Group LLC raised its position in Intuitive Surgical by 0.5% during the third quarter. Prosperity Consulting Group LLC now owns 4,033 shares of the medical equipment provider's stock valued at $1,804,000 after acquiring an additional 19 shares in the last quarter. Rossmore Private Capital raised its position in Intuitive Surgical by 2.0% during the third quarter. Rossmore Private Capital now owns 998 shares of the medical equipment provider's stock valued at $446,000 after acquiring an additional 20 shares in the last quarter. Finally, Activest Wealth Management raised its position in Intuitive Surgical by 21.7% during the third quarter. Activest Wealth Management now owns 112 shares of the medical equipment provider's stock valued at $50,000 after acquiring an additional 20 shares in the last quarter. Institutional investors own 83.64% of the company's stock.

Insider Buying and Selling at Intuitive Surgical

In related news, EVP Myriam Curet sold 421 shares of the business's stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $494.96, for a total transaction of $208,378.16. Following the transaction, the executive vice president owned 409 shares of the company's stock, valued at approximately $202,438.64. The trade was a 50.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Mark Brosius sold 2,362 shares of the business's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $498.68, for a total transaction of $1,177,882.16. Following the transaction, the senior vice president directly owned 3,554 shares in the company, valued at $1,772,308.72. This trade represents a 39.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 5,906 shares of company stock valued at $2,907,726 in the last three months. 0.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ISRG has been the topic of several recent research reports. Citigroup raised shares of Intuitive Surgical from a "neutral" rating to a "buy" rating and set a $590.00 price objective on the stock in a research report on Wednesday, March 11th. Raymond James Financial reduced their price objective on shares of Intuitive Surgical from $615.00 to $577.00 and set an "outperform" rating for the company in a research note on Wednesday, April 22nd. Jefferies Financial Group reduced their price objective on shares of Intuitive Surgical from $560.00 to $515.00 and set a "hold" rating for the company in a research note on Wednesday, April 22nd. Mizuho set a $525.00 price objective on shares of Intuitive Surgical and gave the stock a "neutral" rating in a research note on Monday, April 13th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Intuitive Surgical from $625.00 to $550.00 and set an "overweight" rating for the company in a research note on Wednesday, April 22nd. Eighteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $581.91.

Intuitive Surgical Stock Performance

Shares of Intuitive Surgical stock opened at $450.06 on Monday. The firm has a fifty day simple moving average of $472.19 and a 200-day simple moving average of $517.39. Intuitive Surgical, Inc. has a 1-year low of $427.84 and a 1-year high of $603.88. The stock has a market capitalization of $159.39 billion, a price-to-earnings ratio of 54.55, a PEG ratio of 3.59 and a beta of 1.51.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.08 by $0.42. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the previous year, the firm posted $1.81 earnings per share. Intuitive Surgical's revenue was up 23.0% compared to the same quarter last year. As a group, research analysts predict that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current year.

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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