Fisher Funds Management LTD Sells 125,251 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Fisher Funds Management LTD cut its stake in Intuitive Surgical by 53.1% in Q4, selling 125,251 shares and retaining 110,764 shares worth about $63.07 million, making ISRG its 18th-largest holding.
• Intuitive beat Q4 expectations with $2.53 EPS vs. $2.27 expected and revenue of $2.87 billion (up 18.8% YoY); analysts hold a consensus "Moderate Buy" with an average price target of about $598.36.
• Headwinds include recent regulatory safety and cybersecurity headlines, notable insider/institutional selling (insiders sold 32,943 shares worth ≈$17.28 million last quarter), and some trimmed price targets that increase sensitivity ahead of Q1.

Fisher Funds Management LTD reduced its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 53.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,764 shares of the medical equipment provider's stock after selling 125,251 shares during the period. Intuitive Surgical makes up 1.6% of Fisher Funds Management LTD's holdings, making the stock its 18th largest position. Fisher Funds Management LTD's holdings in Intuitive Surgical were worth $63,068,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. boosted 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. Holos Integrated Wealth LLC purchased a new stake in shares of Intuitive Surgical during the fourth quarter valued at $25,000. Olistico Wealth LLC purchased a new stake in shares of Intuitive Surgical during the fourth quarter valued at $28,000. Greykasell Wealth Strategies Inc. purchased a new stake in shares of Intuitive Surgical during the third quarter valued at $27,000. Finally, Caitlin John LLC purchased a new stake in shares of Intuitive Surgical during the third quarter valued at $30,000. 83.64% of the stock is owned by institutional investors and hedge funds.

Intuitive Surgical Trading Down 2.2%

ISRG opened at $458.08 on Friday. Intuitive Surgical, Inc. has a twelve month low of $427.84 and a twelve month high of $603.88. The firm has a market capitalization of $162.68 billion, a PE ratio of 58.06, a PEG ratio of 3.66 and a beta of 1.68. The firm's 50-day moving average price is $479.59 and its 200 day moving average price is $514.26.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its quarterly earnings results on Thursday, January 22nd. The medical equipment provider reported $2.53 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.26. The firm had revenue of $2.87 billion for the quarter, compared to analysts' expectations of $2.72 billion. Intuitive Surgical had a net margin of 28.38% and a return on equity of 15.06%. The company's revenue was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.21 EPS. As a group, analysts predict that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

More Intuitive Surgical News

Here are the key news stories impacting Intuitive Surgical this week:

• Positive Sentiment: Underlying procedure growth and da Vinci 5 roll-out remain key tailwinds that could support recurring instruments & accessories revenue and longer-term top-line expansion. Intuitive Surgical Pre-Q1 Analysis
• Positive Sentiment: Most sell-side analysts remain constructive (buy/outperform) and median price targets sit well above current levels, providing analyst support despite some recent downgrades to targets. Quiver Quantitative coverage of analysts and targets
• Neutral Sentiment: Investors are in a watch-and-wait mode ahead of Q1 — analysts and previews are focused on procedure volumes, system placements and consumable attach rates (key inputs that will drive the quarter’s guidance reaction). Seeking clues to Q1 earnings (Zacks)
• Neutral Sentiment: Competitive device news — e.g., an FDA clearance for a navigation-compatible SI-joint fusion system — is worth monitoring but is not an immediate threat to Intuitive’s core robotic surgery franchise. SurGenTec FDA 510(k) clearance
• Negative Sentiment: Regulatory safety headlines related to certain stapler/reload products compatible with da Vinci systems — including reports of serious injuries and a death cited in a U.S. regulator communication — have reintroduced headline risk and investor caution. Safety & cybersecurity overhangs (Quiver)
• Negative Sentiment: Earlier disclosed cybersecurity unauthorized access to parts of Intuitive’s internal administrative network (March disclosure) continues to weigh on sentiment even though surgical systems were not affected. Safety & cybersecurity overhangs (Quiver)
• Negative Sentiment: Price-target trims from some firms (Truist, Baird) plus a premium valuation multiple and noticeable insider/institutional selling episodes increase sensitivity to negative news and can pressure the stock ahead of earnings. Price target changes reported (Benzinga/MarketScreener/The Fly)

Insiders Place Their Bets

In other news, SVP Patricia L. Wadors sold 220 shares of the company's stock in a transaction on Friday, February 27th. The stock was sold at an average price of $499.71, for a total value of $109,936.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gary S. Guthart sold 24,500 shares of Intuitive Surgical stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $530.10, for a total transaction of $12,987,450.00. Following the sale, the director owned 3,694 shares of the company's stock, valued at approximately $1,958,189.40. This represents a 86.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 32,943 shares of company stock worth $17,279,568. Corporate insiders own 0.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ISRG. Truist Financial dropped their price objective on shares of Intuitive Surgical from $650.00 to $580.00 and set a "buy" rating on the stock in a report on Wednesday. Citigroup upgraded Intuitive Surgical from a "neutral" rating to a "buy" rating and set a $590.00 price objective for the company in a research note on Wednesday, March 11th. Raymond James Financial lifted their price objective on Intuitive Surgical from $603.00 to $615.00 and gave the company an "outperform" rating in a research note on Friday, January 23rd. Barclays set a $712.00 price objective on Intuitive Surgical and gave the company an "overweight" rating in a research note on Monday, January 26th. Finally, Wall Street Zen lowered Intuitive Surgical from a "buy" rating to a "hold" rating in a research note on Saturday, February 7th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $598.36.

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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