California State Teachers Retirement System Trims Stake in Intuitive Surgical, Inc. $ISRG

Key Points

• CalSTRS reduced its Intuitive Surgical stake by 3.2% in the first quarter, selling 17,549 shares and retaining 539,288 shares valued at approximately $248.6 million. Institutional investors collectively own 83.64% of the company.
• Intuitive Surgical reported a strong quarter, with earnings of $2.80 per share and revenue of $2.89 billion, exceeding analyst estimates; revenue increased 18.4% year over year.
• Insiders sold 6,550 shares worth about $2.77 million during the quarter, while analysts maintained an overall “Moderate Buy” rating with a consensus price target of $517.21, despite concerns over slower U.S. procedure growth and potential insurance-coverage risks.

California State Teachers Retirement System reduced its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 3.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 539,288 shares of the medical equipment provider's stock after selling 17,549 shares during the quarter. California State Teachers Retirement System owned approximately 0.15% of Intuitive Surgical worth $248,606,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Empowered Funds LLC increased its holdings in Intuitive Surgical by 143.1% in the 1st quarter. Empowered Funds LLC now owns 43,981 shares of the medical equipment provider's stock worth $20,275,000 after acquiring an additional 25,886 shares in the last quarter. Evelyn Partners Asset Management Ltd raised its stake in Intuitive Surgical by 3.9% during the 1st quarter. Evelyn Partners Asset Management Ltd now owns 4,942 shares of the medical equipment provider's stock worth $2,278,000 after acquiring an additional 187 shares during the period. Evelyn Partners Investment Management Europe Ltd lifted its holdings in Intuitive Surgical by 2.7% during the first quarter. Evelyn Partners Investment Management Europe Ltd now owns 1,044 shares of the medical equipment provider's stock valued at $481,000 after purchasing an additional 27 shares in the last quarter. Evelyn Partners Investment Management LLP lifted its holdings in Intuitive Surgical by 16.6% during the first quarter. Evelyn Partners Investment Management LLP now owns 62,473 shares of the medical equipment provider's stock valued at $28,799,000 after purchasing an additional 8,874 shares in the last quarter. Finally, Evelyn Partners Investment Management Services Ltd boosted its position in shares of Intuitive Surgical by 7.2% in the first quarter. Evelyn Partners Investment Management Services Ltd now owns 23,884 shares of the medical equipment provider's stock worth $11,010,000 after purchasing an additional 1,601 shares during the period. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Iman Jeddi sold 5,625 shares of the firm's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $420.55, for a total value of $2,365,593.75. Following the completion of the sale, the senior vice president owned 6,463 shares of the company's stock, valued at $2,718,014.65. This trade represents a 46.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of the business's stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total transaction of $169,656.00. Following the sale, the executive vice president directly owned 5,720 shares in the company, valued at approximately $2,426,080.80. This represents a 6.54% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 6,550 shares of company stock worth $2,767,249. Insiders own 0.60% of the company's stock.

Intuitive Surgical Trading Up 1.4%

ISRG opened at $361.80 on Wednesday. The firm has a market cap of $127.82 billion, a P/E ratio of 41.44, a P/E/G ratio of 2.58 and a beta of 1.46. The stock has a 50-day moving average of $403.62 and a 200 day moving average of $455.95. Intuitive Surgical, Inc. has a 12 month low of $328.57 and a 12 month high of $603.88.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued its quarterly earnings results on Thursday, July 16th. The medical equipment provider reported $2.80 EPS for the quarter, beating the consensus estimate of $2.48 by $0.32. Intuitive Surgical had a net margin of 28.45% and a return on equity of 16.91%. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.83 billion. During the same period in the prior year, the firm posted $1.81 EPS. The firm's revenue was up 18.4% compared to the same quarter last year. On average, research analysts forecast that Intuitive Surgical, Inc. will post 8.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on ISRG shares. Piper Sandler set a $357.44 price objective on shares of Intuitive Surgical in a research note on Monday. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Intuitive Surgical from $440.00 to $366.00 and set a "sell" rating for the company in a report on Tuesday, June 2nd. Truist Financial decreased their price target on Intuitive Surgical from $580.00 to $510.00 and set a "buy" rating on the stock in a report on Thursday, July 16th. Evercore set a $430.00 price objective on Intuitive Surgical in a research report on Monday, July 6th. Finally, UBS Group initiated coverage on Intuitive Surgical in a research note on Tuesday. They issued a "neutral" rating and a $500.00 price objective for the company. Twenty-one analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Intuitive Surgical has a consensus rating of "Moderate Buy" and a consensus target price of $517.21.

Key Stories Impacting Intuitive Surgical

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

• Positive Sentiment: Durable demand and improved margins: On its second-quarter earnings call, Intuitive Surgical highlighted continued demand for its da Vinci surgical systems and raised margin guidance. The company’s latest quarter also exceeded analyst expectations for revenue and earnings, supporting confidence in operating execution. ISRG Q2 Earnings Call Signals Durable Demand & U.S. Caution
• Positive Sentiment: Analysts see significant recovery potential: Wall Street’s average price target is substantially above the current trading level, with one analyst reportedly assigning a target of $685. The bullish view reflects expectations for further procedure growth, broader adoption of robotic-assisted surgery and recurring instrument and service revenue. Why Wall Street Thinks Intuitive Surgical Stock Could Soar
• Positive Sentiment: Patient-awareness campaign: Intuitive announced a collaboration with Deion “Coach Prime” Sanders to educate patients about surgical options and encourage discussions with physicians. The campaign could increase public awareness of da Vinci procedures, although its financial impact is likely longer term. Intuitive Collaborates with Deion Sanders
• Neutral Sentiment: Governance update: The board amended the company’s bylaws and proxy rules. The changes may affect shareholder proposals and corporate governance but do not appear to alter Intuitive Surgical’s operating outlook. Intuitive Surgical Tightens Shareholder Governance and Proxy Rules
• Negative Sentiment: U.S. growth and coverage risks: Management cautioned about slower U.S. procedure growth and deferred care. Separately, the loss of enhanced Affordable Care Act subsidies could reduce insurance coverage, potentially delaying elective procedures and limiting near-term demand. The ACA Coverage Debate Just Became a $50 Billion Question

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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