Generate Investment Management Ltd Sells 19,265 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Generate Investment Management Ltd cut its Intuitive Surgical stake by 95.1% in the first quarter, selling 19,265 shares and leaving it with 989 shares worth about $456,000.
• Intuitive Surgical reported better-than-expected quarterly results, posting EPS of $2.50 versus $2.08 expected and revenue of $2.77 billion, up 23% year over year.
• Analysts remain broadly positive on the stock, with 19 Buy ratings and an average target price of $573.42, even as several firms trimmed their price targets recently.

Generate Investment Management Ltd lowered its position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 95.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 989 shares of the medical equipment provider's stock after selling 19,265 shares during the quarter. Generate Investment Management Ltd's holdings in Intuitive Surgical were worth $456,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp raised its position in Intuitive Surgical by 1.0% during 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 purchasing an additional 162,264 shares in the last quarter. Capital World Investors boosted its holdings in shares of Intuitive Surgical by 1.7% in 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 purchasing an additional 127,526 shares in the last quarter. Norges Bank purchased a new position in shares of Intuitive Surgical in the 4th quarter worth about $2,856,987,000. Invesco Ltd. increased its position in shares of Intuitive Surgical by 17.4% during the 4th quarter. Invesco Ltd. now owns 4,128,735 shares of the medical equipment provider's stock valued at $2,338,350,000 after purchasing an additional 611,268 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of 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 valued at $1,739,475,000 after purchasing an additional 40,702 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company's stock.

Intuitive Surgical Price Performance

ISRG opened at $402.95 on Tuesday. The stock's 50 day simple moving average is $437.39 and its 200 day simple moving average is $488.76. The firm has a market cap of $142.71 billion, a price-to-earnings ratio of 48.84, a PEG ratio of 3.31 and a beta of 1.46. Intuitive Surgical, Inc. has a 1 year low of $396.68 and a 1 year high of $603.88.

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 for the quarter, beating the consensus estimate of $2.08 by $0.42. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the previous year, the company posted $1.81 earnings per share. The business's revenue was up 23.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Intuitive Surgical, Inc. will post 8.57 EPS for the current year.

Analysts Set New Price Targets

ISRG has been the subject of a number of recent research reports. Piper Sandler restated an "overweight" rating and issued a $580.00 target price on shares of Intuitive Surgical in a research report on Tuesday, June 2nd. TD Cowen reduced their price target on shares of Intuitive Surgical from $660.00 to $585.00 and set a "buy" rating on the stock in a research report on Wednesday, April 22nd. Truist Financial decreased their price target on shares of Intuitive Surgical from $650.00 to $580.00 and set a "buy" rating on the stock in a research note on Wednesday, April 15th. Mizuho set a $525.00 price objective on shares of Intuitive Surgical and gave the stock a "neutral" rating in a report on Monday, April 13th. Finally, HSBC cut their price objective on shares of Intuitive Surgical from $653.00 to $604.00 and set a "buy" rating for the company in a research note on Wednesday, April 22nd. Nineteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $573.42.

Insider Activity at Intuitive Surgical

In related news, Director Amy L. Ladd sold 119 shares of the company's stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $463.50, for a total transaction of $55,156.50. Following the completion of the sale, the director directly owned 120 shares in the company, valued at $55,620. This represents a 49.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of the stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $424.14, for a total transaction of $169,656.00. Following the sale, the executive vice president directly owned 5,720 shares of the company's stock, valued at $2,426,080.80. The trade was a 6.54% 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. Insiders sold 7,169 shares of company stock worth $3,059,135 in the last three months. 0.60% of the stock is owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.