Gulf International Bank UK Ltd Sells 7,247 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Key Points

• Gulf International Bank UK Ltd reduced its stake in Intuitive Surgical, Inc. by 26.1%, selling 7,247 shares during the first quarter, resulting in an ownership of 20,549 shares valued at approximately $10.18 million.
• Several institutional investors increased their holdings in Intuitive Surgical, with LGT Group Foundation raising its stake by 41.9% and the National Pension Service increasing by 5.8% in the same quarter.
• Analysts have varying price objectives for Intuitive Surgical, with UBS raising its target from $547.00 to $585.00 and Barclays lowering it from $684.00 to $635.00, reflecting a mixed outlook for the stock.

Gulf International Bank UK Ltd trimmed its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 26.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,549 shares of the medical equipment provider's stock after selling 7,247 shares during the quarter. Gulf International Bank UK Ltd's holdings in Intuitive Surgical were worth $10,177,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. National Pension Service boosted its stake in Intuitive Surgical by 5.8% in the 1st quarter. National Pension Service now owns 797,929 shares of the medical equipment provider's stock worth $395,190,000 after purchasing an additional 43,408 shares during the period. Klingman & Associates LLC boosted its stake in Intuitive Surgical by 7.6% in the 1st quarter. Klingman & Associates LLC now owns 839 shares of the medical equipment provider's stock worth $416,000 after purchasing an additional 59 shares during the period. Fox Hill Wealth Management boosted its stake in Intuitive Surgical by 2.0% in the 1st quarter. Fox Hill Wealth Management now owns 5,154 shares of the medical equipment provider's stock worth $2,553,000 after purchasing an additional 103 shares during the period. LGT Group Foundation boosted its stake in Intuitive Surgical by 41.9% in the 1st quarter. LGT Group Foundation now owns 87,248 shares of the medical equipment provider's stock worth $43,211,000 after purchasing an additional 25,758 shares during the period. Finally, LGT Fund Management Co Ltd. boosted its stake in Intuitive Surgical by 25.2% in the 1st quarter. LGT Fund Management Co Ltd. now owns 1,540 shares of the medical equipment provider's stock worth $763,000 after purchasing an additional 310 shares during the period. 83.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on ISRG shares. Truist Financial upped their price target on Intuitive Surgical from $590.00 to $600.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft cut Intuitive Surgical from a "hold" rating to a "sell" rating and decreased their price objective for the stock from $515.00 to $440.00 in a report on Monday, June 9th. Royal Bank Of Canada upped their price objective on Intuitive Surgical from $605.00 to $615.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Robert W. Baird decreased their price objective on Intuitive Surgical from $600.00 to $575.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $595.00 price objective (up from $575.00) on shares of Intuitive Surgical in a report on Wednesday, July 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $595.95.

Intuitive Surgical Stock Performance

ISRG stock traded up $3.18 during midday trading on Friday, reaching $480.26. The company's stock had a trading volume of 1,436,064 shares, compared to its average volume of 1,995,683. The stock has a fifty day simple moving average of $510.29 and a two-hundred day simple moving average of $526.13. Intuitive Surgical, Inc. has a 1 year low of $425.00 and a 1 year high of $616.00. The firm has a market capitalization of $172.16 billion, a price-to-earnings ratio of 66.98, a PEG ratio of 5.06 and a beta of 1.59.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.93 by $0.26. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the firm posted $1.78 earnings per share. The business's revenue was up 21.4% compared to the same quarter last year. As a group, analysts forecast that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Mark Brosius sold 216 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $563.11, for a total transaction of $121,631.76. Following the transaction, the senior vice president owned 907 shares in the company, valued at approximately $510,740.77. This trade represents a 19.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Myriam Curet sold 4,500 shares of the firm's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $492.48, for a total value of $2,216,160.00. Following the transaction, the executive vice president owned 353 shares in the company, valued at approximately $173,845.44. This represents a 92.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,839 shares of company stock worth $7,896,972 over the last quarter. Company insiders own 0.70% of the company's stock.

About Intuitive Surgical

Intuitive Surgical, Inc develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally. The company offers the da Vinci Surgical System that enables complex surgery using a minimally invasive approach; and Ion endoluminal system, which extends its commercial offerings beyond surgery into diagnostic procedures enabling minimally invasive biopsies in the lung.