Harvest Portfolios Group Inc. Sells 11,094 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Harvest Portfolios Group reduced its Intuitive Surgical stake by 9.3% in the fourth quarter, selling 11,094 shares and ending the period with 108,497 shares valued at about $61.4 million.
• Analyst sentiment remains positive overall, with 19 Buy ratings, 7 Hold ratings, and 1 Sell rating; the stock carries a consensus rating of Moderate Buy and an average price target of $579.33.
• Intuitive Surgical beat earnings expectations in its latest quarter, posting $2.50 EPS on $2.77 billion in revenue, while insiders also sold shares in recent months.

Harvest Portfolios Group Inc. trimmed its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 9.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,497 shares of the medical equipment provider's stock after selling 11,094 shares during the period. Harvest Portfolios Group Inc.'s holdings in Intuitive Surgical were worth $61,448,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Holos Integrated Wealth LLC acquired a new position in Intuitive Surgical in the fourth quarter valued at about $25,000. Newbridge Financial Services Group Inc. lifted its stake 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 valued at $25,000 after buying an additional 33 shares during the period. Greykasell Wealth Strategies Inc. acquired a new position in Intuitive Surgical in the third quarter valued at about $27,000. Olistico Wealth LLC acquired a new position in Intuitive Surgical in the fourth quarter valued at about $28,000. Finally, Caitlin John LLC acquired a new position in Intuitive Surgical in the third quarter valued at about $30,000. 83.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ISRG. Wall Street Zen raised shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a research report on Saturday. Citigroup raised shares of Intuitive Surgical from a "neutral" rating to a "buy" rating and set a $590.00 price target on the stock in a research report on Wednesday, March 11th. Bank of America reduced their price target on shares of Intuitive Surgical from $650.00 to $520.00 and set a "buy" rating on the stock in a research report on Monday. Evercore reduced their price target on shares of Intuitive Surgical from $550.00 to $480.00 and set a "neutral" rating on the stock in a research report on Monday, April 6th. Finally, UBS Group decreased their price objective on Intuitive Surgical from $570.00 to $550.00 and set a "neutral" rating for the company in a research report on Tuesday, March 17th. Nineteen 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $579.33.

Insider Buying and Selling at Intuitive Surgical

In other news, EVP Gary Loeb sold 400 shares of the firm's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $446.95, for a total transaction of $178,780.00. Following the completion of the sale, the executive vice president owned 6,120 shares in the company, valued at approximately $2,735,334. This trade represents a 6.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark Brosius sold 2,362 shares of the firm's stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $498.68, for a total transaction of $1,177,882.16. Following the sale, the senior vice president owned 3,554 shares of the company's stock, valued at approximately $1,772,308.72. This represents a 39.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 5,647 shares of company stock valued at $2,760,359 in the last 90 days. Company insiders own 0.60% of the company's stock.

Intuitive Surgical Trading Up 0.4%

Intuitive Surgical stock opened at $441.58 on Wednesday. The company has a market cap of $156.39 billion, a P/E ratio of 53.52, a price-to-earnings-growth ratio of 3.51 and a beta of 1.51. The company has a fifty day simple moving average of $461.52 and a 200 day simple moving average of $512.36. 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 for the quarter, topping analysts' consensus estimates of $2.08 by $0.42. The business had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.62 billion. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The firm's revenue for the quarter was up 23.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.81 earnings per share. On average, equities research analysts forecast that Intuitive Surgical, Inc. will post 8.57 EPS for the current year.

Intuitive Surgical 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.

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