Handelsbanken Fonder AB Increases Stock Holdings in Intuitive Surgical, Inc. $ISRG

Key Points

• Handelsbanken Fonder AB increased its stake in Intuitive Surgical by 13.2% in the fourth quarter, adding 41,605 shares to bring its total to 357,586 shares valued at about $202.5 million.
• Intuitive Surgical reported strong quarterly results, posting EPS of $2.50 versus the $2.08 estimate 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 price target of $579.33, though several firms recently trimmed their targets.

Handelsbanken Fonder AB boosted its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 13.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 357,586 shares of the medical equipment provider's stock after purchasing an additional 41,605 shares during the period. Intuitive Surgical comprises 0.6% of Handelsbanken Fonder AB's holdings, making the stock its 22nd largest position. Handelsbanken Fonder AB owned approximately 0.10% of Intuitive Surgical worth $202,522,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Newbridge Financial Services Group Inc. boosted its position in Intuitive Surgical by 300.0% in the fourth 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 during the last quarter. Holos Integrated Wealth LLC purchased a new position in Intuitive Surgical in the fourth quarter worth $25,000. Olistico Wealth LLC purchased a new position in Intuitive Surgical in the fourth quarter worth $28,000. Laurel Wealth Advisors LLC purchased a new position in Intuitive Surgical in the fourth quarter worth $31,000. Finally, Turning Point Benefit Group Inc. boosted its position in Intuitive Surgical by 833.3% in the fourth quarter. Turning Point Benefit Group Inc. now owns 56 shares of the medical equipment provider's stock worth $32,000 after purchasing an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company's stock.

Intuitive Surgical Price Performance

Shares of ISRG opened at $439.92 on Tuesday. The firm has a market cap of $155.80 billion, a PE ratio of 53.32, a PEG ratio of 3.36 and a beta of 1.51. The stock's fifty day moving average price is $462.50 and its two-hundred day moving average price is $513.03. Intuitive Surgical, Inc. has a 1 year low of $417.74 and a 1 year high of $603.88.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $2.62 billion. During the same period 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. Sell-side analysts anticipate that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current fiscal year.

Insider Activity at Intuitive Surgical

In related news, SVP Mark Brosius sold 645 shares of the business's stock in a transaction on Monday, March 9th. The stock was sold at an average price of $485.01, for a total transaction of $312,831.45. Following the sale, the senior vice president directly owned 1,613 shares in the company, valued at approximately $782,321.13. The trade was a 28.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Amy L. Ladd sold 119 shares of the business's stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $463.50, for a total value of $55,156.50. Following the sale, the director owned 120 shares in the company, valued at approximately $55,620. The trade was a 49.79% decrease in their ownership of the stock. 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 a total of 5,647 shares of company stock worth $2,760,359 in the last 90 days. 0.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on ISRG shares. Piper Sandler cut their price objective on Intuitive Surgical from $620.00 to $580.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 22nd. The Goldman Sachs Group boosted their price objective on Intuitive Surgical from $609.00 to $621.00 and gave the stock a "buy" rating in a research report on Wednesday, April 22nd. Bank of America lowered their target price on Intuitive Surgical from $650.00 to $520.00 and set a "buy" rating on the stock in a research note on Monday. BTIG Research restated a "buy" rating and issued a $574.00 target price on shares of Intuitive Surgical in a research note on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. lowered their target price on Intuitive Surgical from $625.00 to $550.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 22nd. Nineteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $579.33.

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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