Formuepleje A S Has $1.33 Million Stake in Intuitive Surgical, Inc. $ISRG

Key Points

• Formuepleje A S cut its Intuitive Surgical stake by 70.8% in the second quarter, selling 8,141 shares and retaining 3,354 shares valued at approximately $1.33 million. Institutional investors and hedge funds collectively own 83.64% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $508.68, despite several firms recently lowering their targets.
• Intuitive Surgical reported stronger-than-expected quarterly results, posting $2.80 in earnings per share and $2.89 billion in revenue, with revenue rising 18.4% year over year.

Formuepleje A S trimmed its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 70.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,354 shares of the medical equipment provider's stock after selling 8,141 shares during the quarter. Formuepleje A S's holdings in Intuitive Surgical were worth $1,334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in ISRG. Brown Financial Advisors boosted its holdings in shares of Intuitive Surgical by 18.3% during the second quarter. Brown Financial Advisors now owns 2,293 shares of the medical equipment provider's stock worth $912,000 after purchasing an additional 355 shares during the period. Advus Financial Partners LLC purchased a new stake in Intuitive Surgical in the 2nd quarter worth approximately $208,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Intuitive Surgical in the 2nd quarter worth approximately $14,316,000. California State Teachers Retirement System lifted its position in Intuitive Surgical by 39,531.1% in the 2nd quarter. California State Teachers Retirement System now owns 213,725,958 shares of the medical equipment provider's stock worth $84,994,539,000 after buying an additional 213,186,670 shares in the last quarter. Finally, Tanager Wealth Management LLP boosted its stake in shares of Intuitive Surgical by 70.2% during the 2nd quarter. Tanager Wealth Management LLP now owns 749 shares of the medical equipment provider's stock valued at $298,000 after buying an additional 309 shares during the period. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Wells Fargo & Company restated an "overweight" rating and set a $487.00 price target (down from $654.00) on shares of Intuitive Surgical in a report on Friday, July 17th. Raymond James Financial reiterated an "outperform" rating and set a $483.00 price objective (down from $577.00) on shares of Intuitive Surgical in a report on Friday, July 17th. Leerink Partners reduced their price objective on Intuitive Surgical from $573.00 to $454.00 and set an "outperform" rating for the company in a research report on Friday, July 17th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Intuitive Surgical in a research report on Wednesday, August 12th. Finally, Oppenheimer raised Intuitive Surgical from a "market perform" rating to an "outperform" rating and set a $500.00 target price on the stock in a research report on Wednesday, August 12th. Twenty-two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $508.68.

Intuitive Surgical Price Performance

ISRG stock opened at $366.70 on Monday. The firm has a 50 day moving average of $381.44 and a two-hundred day moving average of $428.20. Intuitive Surgical, Inc. has a 12 month low of $328.57 and a 12 month high of $603.88. The company has a market capitalization of $129.55 billion, a price-to-earnings ratio of 42.00, a P/E/G ratio of 2.77 and a beta of 1.47.

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

Insider Buying and Selling at Intuitive Surgical

In other news, Director Amy L. Ladd sold 400 shares of the company's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $379.00, for a total transaction of $151,600.00. Following the completion of the sale, the director owned 251 shares in the company, valued at approximately $95,129. This represents a 61.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Brosius sold 77 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $375.57, for a total value of $28,918.89. Following the transaction, the executive vice president directly owned 881 shares in the company, valued at approximately $330,877.17. This represents a 8.04% decrease in their position. 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. Over the last ninety days, insiders sold 11,635 shares of company stock valued at $4,640,172. Corporate insiders own 0.60% of the company's stock.

Intuitive Surgical 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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