Caxton Associates LLP Trims Holdings in Intuitive Surgical, Inc. $ISRG

Key Points

• Caxton Associates slashed its Intuitive Surgical stake by 99.6% in the first quarter, selling 167,840 shares and retaining just 696 shares valued at approximately $321,000. Institutional investors still own 83.64% of the company.
• Analysts remain broadly positive, with 21 Buy, seven Hold and one Sell rating, producing a “Moderate Buy” consensus and an average price target of $517.21. However, several firms recently lowered their targets amid concerns about slower U.S. procedure growth and potential insurance-coverage pressures.
• Intuitive Surgical reported stronger-than-expected quarterly results, including $2.80 in EPS and $2.89 billion in revenue, with revenue up 18.4% year over year. The company highlighted durable demand for da Vinci systems and improved margin guidance, though insiders sold $2.77 million of stock during the latest quarter.

Caxton Associates LLP trimmed its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 99.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 696 shares of the medical equipment provider's stock after selling 167,840 shares during the quarter. Caxton Associates LLP's holdings in Intuitive Surgical were worth $321,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ISRG. Newbridge Financial Services Group Inc. lifted its stake in Intuitive Surgical by 300.0% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider's stock worth $25,000 after purchasing an additional 33 shares in the last quarter. Main Street Group LTD purchased a new position in shares of Intuitive Surgical during the 1st quarter valued at $30,000. Laurel Wealth Advisors LLC bought a new position in shares of Intuitive Surgical in the fourth quarter worth $31,000. Vermillion Wealth Management Inc. increased its holdings in shares of Intuitive Surgical by 58.1% in the first quarter. Vermillion Wealth Management Inc. now owns 68 shares of the medical equipment provider's stock worth $31,000 after purchasing an additional 25 shares during the period. Finally, Turning Point Benefit Group Inc. increased its holdings in shares of Intuitive Surgical by 833.3% in the fourth quarter. Turning Point Benefit Group Inc. now owns 56 shares of the medical equipment provider's stock worth $32,000 after purchasing an additional 50 shares during the period. Hedge funds and other institutional investors own 83.64% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ISRG. Robert W. Baird dropped their price objective on Intuitive Surgical from $525.00 to $500.00 and set an "outperform" rating for the company in a research note on Friday, July 17th. HSBC decreased their target price on Intuitive Surgical from $653.00 to $604.00 and set a "buy" rating on the stock in a research note on Wednesday, April 22nd. Citigroup lowered their price target on Intuitive Surgical from $590.00 to $500.00 and set a "buy" rating on the stock in a report on Friday, July 17th. Truist Financial dropped their price target on Intuitive Surgical from $580.00 to $510.00 and set a "buy" rating for the company in a research report on Thursday, July 16th. Finally, Wells Fargo & Company reissued an "overweight" rating and set a $487.00 price objective (down from $654.00) on shares of Intuitive Surgical in a report on Friday, July 17th. Twenty-one analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $517.21.

Insider Transactions at Intuitive Surgical

In other news, SVP Iman Jeddi sold 5,625 shares of the company's stock in a transaction dated 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 transaction, the senior vice president directly owned 6,463 shares in the company, valued at approximately $2,718,014.65. This represents a 46.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $424.14, for a total value of $169,656.00. Following the transaction, the executive vice president owned 5,720 shares in the company, valued at $2,426,080.80. This trade represents a 6.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,550 shares of company stock valued at $2,767,249 over the last quarter. Company insiders own 0.60% of the company's stock.

Intuitive Surgical News Roundup

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 Stock Performance

NASDAQ ISRG opened at $361.80 on Wednesday. Intuitive Surgical, Inc. has a 52-week low of $328.57 and a 52-week high of $603.88. The company has a market capitalization 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 company has a fifty day moving average of $403.62 and a 200-day moving average of $455.95.

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

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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