Geode Capital Management LLC Has $4.64 Billion Holdings in Intuitive Surgical, Inc. $ISRG

Key Points

• Geode Capital Management trimmed its Intuitive Surgical stake by 0.6% in the fourth quarter, but still held 8.23 million shares valued at about $4.64 billion.
• Intuitive Surgical reported better-than-expected Q1 results, with EPS of $2.50 versus $2.08 expected and revenue of $2.77 billion, up 23% year over year.
• Despite strong fundamentals, the stock has pulled back to $418.55, near its 52-week low, while analysts remain generally positive with a Moderate Buy consensus and an average price target of $576.71.

Geode Capital Management LLC cut its position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,225,691 shares of the medical equipment provider's stock after selling 47,985 shares during the quarter. Geode Capital Management LLC owned 2.32% of Intuitive Surgical worth $4,638,187,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ISRG. Brighton Jones LLC raised its position in Intuitive Surgical by 24.9% in the fourth quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider's stock valued at $1,916,000 after purchasing an additional 731 shares during the last quarter. Sivia Capital Partners LLC raised its position in Intuitive Surgical by 3.8% in the second quarter. Sivia Capital Partners LLC now owns 928 shares of the medical equipment provider's stock valued at $504,000 after purchasing an additional 34 shares during the last quarter. Schnieders Capital Management LLC. raised its position in Intuitive Surgical by 38.0% in the second quarter. Schnieders Capital Management LLC. now owns 973 shares of the medical equipment provider's stock valued at $529,000 after purchasing an additional 268 shares during the last quarter. Osterweis Capital Management Inc. bought a new position in Intuitive Surgical in the second quarter valued at about $200,000. Finally, Main Street Financial Solutions LLC raised its position in shares of Intuitive Surgical by 92.4% during the second quarter. Main Street Financial Solutions LLC now owns 2,929 shares of the medical equipment provider's stock worth $1,592,000 after acquiring an additional 1,407 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors.

Insider Activity at Intuitive Surgical

In related news, Director Amy L. Ladd sold 119 shares of the business's stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $463.50, for a total transaction of $55,156.50. Following the sale, the director directly owned 120 shares in the company, valued at approximately $55,620. The trade was a 49.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark Brosius sold 645 shares of the business's stock in a transaction on Monday, March 9th. The shares were sold at an average price of $485.01, for a total value of $312,831.45. Following the sale, the senior vice president owned 1,613 shares in the company, valued at approximately $782,321.13. The trade was a 28.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 5,701 shares of company stock worth $2,783,807 in the last 90 days. 0.60% of the stock is owned by company insiders.

Intuitive Surgical Price Performance

Shares of ISRG opened at $418.55 on Thursday. The firm has a market cap of $148.23 billion, a PE ratio of 50.73, a PEG ratio of 3.49 and a beta of 1.51. The stock's fifty day moving average price is $455.79 and its two-hundred day moving average price is $507.97. Intuitive Surgical, Inc. has a 1 year low of $414.30 and a 1 year high of $603.88.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (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 company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same period in the previous year, the company posted $1.81 EPS. The firm's revenue for the quarter was up 23.0% compared to the same quarter last year. Sell-side analysts anticipate that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ISRG shares. Argus reduced their price objective on Intuitive Surgical from $630.00 to $560.00 and set a "buy" rating for the company in a research note on Wednesday, February 4th. Citigroup raised Intuitive Surgical from a "neutral" rating to a "buy" rating and set a $590.00 target price on the stock in a research report on Wednesday, March 11th. TD Cowen cut their target price on Intuitive Surgical from $660.00 to $585.00 and set a "buy" rating on the stock in a research report on Wednesday, April 22nd. Mizuho set a $525.00 price target on Intuitive Surgical and gave the stock a "neutral" rating in a report on Monday, April 13th. Finally, Piper Sandler dropped their price target on Intuitive Surgical from $620.00 to $580.00 and set an "overweight" rating on the stock in a report on Wednesday, April 22nd. Nineteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $576.71.

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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