Harvest Fund Management Co. Ltd Has $14.20 Million Stake in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Key Points

• Harvest Fund Management Co. Ltd trimmed its stake in Intuitive Surgical by 8.7%, now holding $14.20 million worth of shares, which represents 0.7% of its portfolio.
• Multiple institutional investors have made notable changes to their positions in Intuitive Surgical, with Castleark Management LLC increasing its stake by 3.4% and Longbow Finance SA boosting holdings by 132%.
• Despite exceeding earnings expectations for the last quarter, analysts have adjusted price targets downwards, with Robert W. Baird setting a new target at $575, reflecting a cautious outlook on the stock.

Harvest Fund Management Co. Ltd reduced its position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 8.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,681 shares of the medical equipment provider's stock after selling 2,719 shares during the period. Intuitive Surgical makes up about 0.7% of Harvest Fund Management Co. Ltd's holdings, making the stock its 23rd biggest holding. Harvest Fund Management Co. Ltd's holdings in Intuitive Surgical were worth $14,201,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in Intuitive Surgical by 24.9% during the fourth quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider's stock worth $1,916,000 after acquiring an additional 731 shares during the period. Bank Pictet & Cie Europe AG raised its holdings in shares of Intuitive Surgical by 0.5% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 190,969 shares of the medical equipment provider's stock valued at $99,678,000 after buying an additional 883 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of Intuitive Surgical during the fourth quarter valued at approximately $1,098,000. Level Four Advisory Services LLC raised its holdings in shares of Intuitive Surgical by 18.3% during the fourth quarter. Level Four Advisory Services LLC now owns 894 shares of the medical equipment provider's stock valued at $467,000 after buying an additional 138 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Intuitive Surgical by 11.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 369,968 shares of the medical equipment provider's stock valued at $193,108,000 after buying an additional 37,063 shares during the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

Intuitive Surgical Price Performance

Intuitive Surgical stock traded up $2.03 during midday trading on Friday, reaching $483.12. The stock had a trading volume of 2,982,876 shares, compared to its average volume of 1,997,437. The firm's fifty day simple moving average is $524.01 and its two-hundred day simple moving average is $533.35. Intuitive Surgical, Inc. has a twelve month low of $425.00 and a twelve month high of $616.00. The firm has a market cap of $173.19 billion, a price-to-earnings ratio of 67.38, a PEG ratio of 5.04 and a beta of 1.60.

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

Insider Buying and Selling at Intuitive Surgical

In related news, insider Gary S. Guthart sold 2,800 shares of Intuitive Surgical stock in a transaction on Monday, July 28th. The shares were sold at an average price of $495.24, for a total value of $1,386,672.00. Following the completion of the sale, the insider owned 18,520 shares of the company's stock, valued at approximately $9,171,844.80. The trade was a 13.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mark Brosius sold 216 shares of Intuitive Surgical 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 completion of the transaction, the senior vice president owned 907 shares in the company, valued at $510,740.77. This trade represents a 19.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,903 shares of company stock valued at $7,932,778 in the last quarter. Company insiders own 0.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ISRG. Citigroup reaffirmed a "buy" rating and set a $650.00 price target (up previously from $590.00) on shares of Intuitive Surgical in a report on Thursday, May 22nd. Erste Group Bank reaffirmed a "hold" rating on shares of Intuitive Surgical in a report on Wednesday, July 23rd. Barclays cut their price target on Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Wells Fargo & Company raised their price objective on shares of Intuitive Surgical from $559.00 to $599.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Piper Sandler reiterated an "overweight" rating and set a $595.00 price objective (up previously from $575.00) on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $592.05.

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.