Fisher Funds Management LTD Has $65.53 Million Holdings in Intuitive Surgical, Inc. $ISRG

Key Points

• Fisher Funds Management increased its Intuitive Surgical stake by 28.3% in the first quarter, buying 31,392 additional shares and bringing its total holding to 142,156 shares worth about $65.5 million.
• Several other major institutions also boosted or initiated positions in ISRG, and institutional investors now own 83.64% of the company.
• Insiders have recently sold shares, while analysts remain broadly constructive: the stock has a Moderate Buy consensus rating with a target price of $573.42, though the shares were recently trading around $406.78.

Fisher Funds Management LTD grew its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 28.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 142,156 shares of the medical equipment provider's stock after purchasing an additional 31,392 shares during the quarter. Intuitive Surgical comprises about 1.9% of Fisher Funds Management LTD's investment portfolio, making the stock its 10th largest position. Fisher Funds Management LTD's holdings in Intuitive Surgical were worth $65,532,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. State Street Corp raised its holdings in shares of Intuitive Surgical by 1.0% in the fourth quarter. State Street Corp now owns 15,701,591 shares of the medical equipment provider's stock valued at $8,892,753,000 after buying an additional 162,264 shares during the last quarter. Capital World Investors lifted its position in Intuitive Surgical by 1.7% during the 4th quarter. Capital World Investors now owns 7,856,018 shares of the medical equipment provider's stock worth $4,449,491,000 after buying an additional 127,526 shares in the last quarter. Norges Bank bought a new stake in Intuitive Surgical during the 4th quarter worth about $2,856,987,000. Invesco Ltd. grew its holdings in Intuitive Surgical by 17.4% during the 4th quarter. Invesco Ltd. now owns 4,128,735 shares of the medical equipment provider's stock worth $2,338,350,000 after acquiring an additional 611,268 shares during the last quarter. Finally, Fisher Asset Management LLC grew its holdings in Intuitive Surgical by 1.1% during the 3rd quarter. Fisher Asset Management LLC now owns 3,889,439 shares of the medical equipment provider's stock worth $1,739,475,000 after acquiring an additional 40,702 shares during the last quarter. Institutional investors own 83.64% of the company's stock.

Insider Transactions at Intuitive Surgical

In related news, SVP Iman Jeddi sold 5,625 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $420.55, for a total value of $2,365,593.75. Following the sale, the senior vice president directly owned 6,463 shares in the company, valued at $2,718,014.65. This trade represents a 46.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of Intuitive Surgical 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 transaction, the executive vice president directly owned 5,720 shares in the company, valued at $2,426,080.80. The trade was a 6.54% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 7,169 shares of company stock worth $3,059,135. 0.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ISRG. Bank of America dropped their target price on shares of Intuitive Surgical from $520.00 to $515.00 in a research note on Friday, June 12th. Citigroup raised shares of Intuitive Surgical from a "neutral" rating to a "buy" rating and set a $590.00 price target on the stock in a research note on Wednesday, March 11th. Robert W. Baird increased their price target on shares of Intuitive Surgical from $575.00 to $610.00 and gave the company an "outperform" rating in a research note on Wednesday, April 22nd. TD Cowen lowered their price target on shares of Intuitive Surgical from $660.00 to $585.00 and set a "buy" rating for the company in a report on Wednesday, April 22nd. Finally, BTIG Research restated a "buy" rating and issued a $574.00 price objective on shares of Intuitive Surgical in a research report on Wednesday, April 22nd. Nineteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $573.42.

Intuitive Surgical Price Performance

NASDAQ:ISRG opened at $406.78 on Monday. Intuitive Surgical, Inc. has a 12-month low of $396.68 and a 12-month high of $603.88. The stock's fifty day simple moving average is $438.43 and its 200-day simple moving average is $489.92. The firm has a market capitalization of $144.07 billion, a P/E ratio of 49.31, a P/E/G ratio of 3.31 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 EPS for the quarter, beating analysts' consensus estimates of $2.08 by $0.42. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the prior year, the company posted $1.81 earnings per share. The firm's revenue was up 23.0% on a year-over-year basis. As a group, equities research analysts expect that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current year.

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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