Capital World Investors Has $4.45 Billion Stake in Intuitive Surgical, Inc. $ISRG

Key Points

• Capital World Investors increased its Intuitive Surgical stake by 1.7% in the fourth quarter, ending with 7.86 million shares valued at about $4.45 billion.
• Other large institutions also raised exposure to ISRG, including Norges Bank and Northwestern Mutual, and institutional investors now own 83.64% of the company.
• Analysts remain generally positive despite some target cuts: the stock has a Moderate Buy consensus with an average price target of $573.63, while Intuitive Surgical recently beat earnings and revenue expectations for the quarter.

Capital World Investors boosted its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 1.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,856,018 shares of the medical equipment provider's stock after buying an additional 127,526 shares during the quarter. Capital World Investors owned approximately 2.21% of Intuitive Surgical worth $4,449,491,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of ISRG. Norges Bank acquired a new stake in Intuitive Surgical in the 4th quarter valued at $2,856,987,000. Northwestern Mutual Wealth Management Co. boosted its stake 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 valued at $760,124,000 after buying an additional 1,224,734 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake 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 valued at $868,667,000 after buying an additional 791,516 shares in the last quarter. Amundi boosted its stake in Intuitive Surgical by 29.7% in the 3rd quarter. Amundi now owns 3,227,472 shares of the medical equipment provider's stock valued at $1,451,362,000 after buying an additional 739,444 shares in the last quarter. Finally, Sands Capital Management LLC boosted its stake 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 valued at $599,784,000 after buying an additional 583,539 shares in the last quarter. Institutional investors and hedge funds own 83.64% of the company's stock.

Analyst Ratings Changes

ISRG has been the topic of several recent analyst reports. Piper Sandler reaffirmed an "overweight" rating and issued a $580.00 price target on shares of Intuitive Surgical in a research note on Tuesday. Leerink Partners decreased their price target on Intuitive Surgical from $622.00 to $573.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. cut their price objective on Intuitive Surgical from $625.00 to $550.00 and set an "overweight" rating for the company in a research report on Wednesday, April 22nd. Raymond James Financial cut their price objective on Intuitive Surgical from $615.00 to $577.00 and set an "outperform" rating for the company in a research report on Wednesday, April 22nd. Finally, Zacks Research downgraded Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 30th. Nineteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $573.63.

Insider Activity at Intuitive Surgical

In other news, EVP Gary Loeb sold 400 shares of the business's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $446.95, for a total transaction of $178,780.00. Following the completion of the sale, the executive vice president owned 6,120 shares in the company, valued at $2,735,334. The trade was a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Iman Jeddi sold 5,625 shares of the business'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 sale, the senior vice president owned 6,463 shares of the company's stock, valued at approximately $2,718,014.65. The trade was a 46.53% 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. Insiders have sold a total of 7,448 shares of company stock valued at $3,224,404 over the last quarter. 0.60% of the stock is currently owned by corporate insiders.

Intuitive Surgical Stock Performance

Shares of ISRG opened at $422.06 on Friday. The stock has a fifty day moving average price of $447.24 and a two-hundred day moving average price of $501.02. Intuitive Surgical, Inc. has a 52-week low of $396.68 and a 52-week high of $603.88. The company has a market cap of $149.48 billion, a price-to-earnings ratio of 51.16, a PEG ratio of 3.37 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (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 firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the previous year, the company posted $1.81 EPS. The business's revenue for the quarter 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 EPS for the current fiscal year.

Intuitive Surgical 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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