Fayez Sarofim & Co Sells 15,561 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Key Points

• Fayez Sarofim & Co reduced its stake in Intuitive Surgical by 1.4%, selling 15,561 shares and owning approximately $559 million worth of stock, which represents 1.4% of its investment portfolio.
• Multiple large investors have adjusted their positions in Intuitive Surgical, with Arlington Trust Co LLC increasing its stake by 34.5% and others making various changes during the latest quarters.
• Analysts have mixed views on the stock's target price, with Barclays lowering its target from $684.00 to $635.00, while Citigroup increased its target to $650.00, contributing to a consensus rating of "Moderate Buy."

Fayez Sarofim & Co lowered its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 1.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,116,009 shares of the medical equipment provider's stock after selling 15,561 shares during the quarter. Intuitive Surgical comprises approximately 1.4% of Fayez Sarofim & Co's investment portfolio, making the stock its 26th biggest holding. Fayez Sarofim & Co owned 0.31% of Intuitive Surgical worth $559,042,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Intuitive Surgical by 1.4% in the first quarter. Vanguard Group Inc. now owns 32,665,531 shares of the medical equipment provider's stock valued at $16,178,258,000 after buying an additional 453,335 shares in the last quarter. Northern Trust Corp lifted its stake in Intuitive Surgical by 15.8% in the fourth quarter. Northern Trust Corp now owns 3,619,293 shares of the medical equipment provider's stock valued at $1,889,126,000 after buying an additional 494,496 shares in the last quarter. Capital Research Global Investors lifted its stake in Intuitive Surgical by 25.5% in the fourth quarter. Capital Research Global Investors now owns 3,381,302 shares of the medical equipment provider's stock valued at $1,764,904,000 after buying an additional 687,906 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Intuitive Surgical by 54,010.7% in the first quarter. GAMMA Investing LLC now owns 3,028,576 shares of the medical equipment provider's stock worth $14,999,630,000 after purchasing an additional 3,022,979 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Intuitive Surgical by 12.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,826,972 shares of the medical equipment provider's stock worth $1,475,566,000 after purchasing an additional 319,694 shares in the last quarter. Institutional investors own 83.64% of the company's stock.

Insider Buying and Selling

In related news, SVP Mark Brosius sold 216 shares of the company's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $563.11, for a total transaction of $121,631.76. Following the completion of the sale, the senior vice president owned 907 shares of the company's stock, valued at $510,740.77. This represents a 19.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Gary S. Guthart sold 2,800 shares of the company's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $495.24, for a total transaction of $1,386,672.00. Following the sale, the insider directly owned 18,520 shares of the company's stock, valued at $9,171,844.80. This represents a 13.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,903 shares of company stock valued at $7,932,778 over the last quarter. 0.70% of the stock is owned by company insiders.

Intuitive Surgical Stock Performance

Shares of ISRG stock traded up $0.27 on Friday, hitting $470.08. The company's stock had a trading volume of 1,445,546 shares, compared to its average volume of 2,319,941. The stock's 50 day moving average is $516.52 and its 200-day moving average is $528.79. Intuitive Surgical, Inc. has a fifty-two week low of $425.00 and a fifty-two week high of $616.00. The company has a market capitalization of $168.51 billion, a PE ratio of 65.56, a PEG ratio of 4.93 and a beta of 1.59.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 EPS for the quarter, beating the consensus estimate of $1.93 by $0.26. Intuitive Surgical had a net margin of 28.51% and a return on equity of 14.56%. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the prior year, the company posted $1.78 earnings per share. Intuitive Surgical's revenue was up 21.4% compared to the same quarter last year. On average, research analysts forecast that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on ISRG. UBS Group boosted their price objective on shares of Intuitive Surgical from $547.00 to $585.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada boosted their price objective on shares of Intuitive Surgical from $605.00 to $615.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Piper Sandler reissued an "overweight" rating and issued a $595.00 price objective (up previously from $575.00) on shares of Intuitive Surgical in a research report on Wednesday, July 23rd. Wall Street Zen raised shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, Robert W. Baird cut their price objective on shares of Intuitive Surgical from $600.00 to $575.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $595.95.

Intuitive Surgical Profile

Intuitive Surgical, Inc develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally. The company offers the da Vinci Surgical System that enables complex surgery using a minimally invasive approach; and Ion endoluminal system, which extends its commercial offerings beyond surgery into diagnostic procedures enabling minimally invasive biopsies in the lung.