Cercano Management LLC Has $352,000 Holdings in Intuitive Surgical, Inc. $ISRG

Key Points

• Cercano Management LLC cut its Intuitive Surgical stake by 93.3% in the fourth quarter, leaving it with 621 shares valued at about $352,000.
• Other institutional activity was mixed, with several funds taking small new positions, while institutional investors and hedge funds still own 83.64% of Intuitive Surgical’s stock.
• Analysts remain generally constructive despite some downgrades: the stock has a Moderate Buy consensus, and Intuitive Surgical recently beat quarterly EPS and revenue estimates, even as the shares fell to around $412.26.

Cercano Management LLC lessened its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 93.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 621 shares of the medical equipment provider's stock after selling 8,614 shares during the quarter. Cercano Management LLC's holdings in Intuitive Surgical were worth $352,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Holos Integrated Wealth LLC bought a new stake in shares of Intuitive Surgical in the fourth quarter worth $25,000. Newbridge Financial Services Group Inc. lifted its position in shares of Intuitive Surgical by 300.0% in the fourth 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. Greykasell Wealth Strategies Inc. bought a new stake in shares of Intuitive Surgical in the third quarter worth $27,000. Olistico Wealth LLC bought a new stake in shares of Intuitive Surgical in the fourth quarter worth $28,000. Finally, Caitlin John LLC bought a new stake in Intuitive Surgical during the third quarter worth $30,000. Institutional investors and hedge funds own 83.64% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Barclays set a $651.00 price target on shares of Intuitive Surgical and gave the stock an "overweight" rating in a research report on Thursday, April 23rd. UBS Group dropped their price target on shares of Intuitive Surgical from $570.00 to $550.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 17th. Wall Street Zen lowered shares of Intuitive Surgical from a "buy" rating to a "hold" rating in a research report on Sunday, May 24th. Piper Sandler dropped their price target on shares of Intuitive Surgical from $620.00 to $580.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 22nd. Finally, Leerink Partners dropped their price target on shares of Intuitive Surgical from $622.00 to $573.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 22nd. Nineteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $576.71.

Insider Activity at Intuitive Surgical

In related news, Director Amy L. Ladd sold 500 shares of the company's stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $473.46, for a total transaction of $236,730.00. Following the completion of the transaction, the director directly owned 239 shares in the company, valued at $113,156.94. This represents a 67.66% 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 Myriam Curet sold 105 shares of the business's stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $493.95, for a total transaction of $51,864.75. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 4,833 shares of company stock worth $2,357,582 over the last three months. 0.60% of the stock is owned by insiders.

Intuitive Surgical Stock Down 2.9%

Shares of Intuitive Surgical stock opened at $412.26 on Tuesday. The company has a market capitalization of $146.01 billion, a price-to-earnings ratio of 49.97, a PEG ratio of 3.39 and a beta of 1.46. Intuitive Surgical, Inc. has a 12-month low of $411.83 and a 12-month high of $603.88. The firm's 50-day moving average price is $452.19 and its two-hundred day moving average price is $504.81.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $2.77 billion for 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 business's revenue for the quarter was up 23.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.81 earnings per share. On average, sell-side analysts expect that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current 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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