Illinois Municipal Retirement Fund Has $4.83 Million Stake in Intuitive Surgical, Inc. $ISRG

Key Points

• Illinois Municipal Retirement Fund increased its stake in Intuitive Surgical by 58.8% in the first quarter, ending with 10,488 shares worth about $4.83 million.
• Wall Street remains generally positive on ISRG despite some target cuts: the stock has a Moderate Buy consensus rating, with a consensus price target of $523.46.
• Intuitive Surgical recently posted strong quarterly results, but investors were rattled by a cautious outlook and slower U.S. procedure growth; the stock was also under pressure from insider selling and concerns about future demand.

Illinois Municipal Retirement Fund boosted its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 58.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,488 shares of the medical equipment provider's stock after acquiring an additional 3,885 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Intuitive Surgical were worth $4,835,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of ISRG. Holos Integrated Wealth LLC acquired a new stake in Intuitive Surgical in the 4th quarter valued at about $25,000. Newbridge Financial Services Group Inc. increased its position in Intuitive Surgical by 300.0% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider's stock worth $25,000 after buying an additional 33 shares during the last quarter. Olistico Wealth LLC acquired a new position in Intuitive Surgical during the fourth quarter worth approximately $28,000. Laurel Wealth Advisors LLC bought a new stake in Intuitive Surgical in the fourth quarter valued at approximately $31,000. Finally, Vermillion Wealth Management Inc. raised its stake in Intuitive Surgical by 58.1% in the first quarter. Vermillion Wealth Management Inc. now owns 68 shares of the medical equipment provider's stock valued at $31,000 after buying an additional 25 shares during the period. Institutional investors own 83.64% of the company's stock.

Wall Street Analyst Weigh In

ISRG has been the subject of several research analyst reports. TD Cowen reduced their target price on Intuitive Surgical from $585.00 to $520.00 and set a "buy" rating for the company in a research note on Monday, July 13th. Weiss Ratings restated a "hold (c)" rating on shares of Intuitive Surgical in a research note on Tuesday, May 19th. Zacks Research downgraded Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a report on Monday, March 30th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $487.00 price objective (down from $654.00) on shares of Intuitive Surgical in a research report on Friday. Finally, Jefferies Financial Group decreased their price objective on shares of Intuitive Surgical from $560.00 to $515.00 and set a "hold" rating on the stock in a report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Intuitive Surgical presently has a consensus rating of "Moderate Buy" and a consensus price target of $523.46.

Key Headlines Impacting Intuitive Surgical

Here are the key news stories impacting Intuitive Surgical this week:

• Positive Sentiment: Intuitive Surgical reported stronger-than-expected Q2 revenue and earnings, helped by solid demand for its da Vinci robotic surgery systems and continued adoption of its products. Reuters article
• Positive Sentiment: The company still reported healthy procedure growth overall, with worldwide procedures rising and placements of robotic systems remaining strong, which supports the long-term investment case. Yahoo Finance article
• Neutral Sentiment: Several analysts lowered price targets after the report, but most kept bullish ratings such as overweight, buy, or outperform, suggesting Wall Street still sees meaningful upside despite the near-term pullback. Benzinga article
• Negative Sentiment: Management did not raise its forecast for procedure growth, and investors reacted badly to slower U.S. procedure growth and a cautious full-year outlook. Benzinga article
• Negative Sentiment: Reuters also noted concerns that changes to some insurance plans could reduce demand, adding to worries about slower U.S. growth and a softer near-term procedure trajectory. Reuters article

Insider Activity

In other Intuitive Surgical news, EVP Gary Loeb sold 400 shares of the firm's stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total transaction of $169,656.00. Following the transaction, the executive vice president owned 5,720 shares in the company, valued at $2,426,080.80. This trade represents a 6.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Iman Jeddi sold 5,625 shares of the firm's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $420.55, for a total value of $2,365,593.75. Following the transaction, the senior vice president owned 6,463 shares in the company, valued at approximately $2,718,014.65. This trade represents a 46.53% decrease in their position. 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. Over the last ninety days, insiders sold 7,169 shares of company stock worth $3,059,135. Corporate insiders own 0.60% of the company's stock.

Intuitive Surgical Stock Performance

NASDAQ:ISRG opened at $345.42 on Friday. Intuitive Surgical, Inc. has a 52 week low of $344.55 and a 52 week high of $603.88. The firm's 50-day simple moving average is $415.28 and its 200 day simple moving average is $467.88. The firm has a market cap of $122.33 billion, a price-to-earnings ratio of 39.57, a P/E/G ratio of 2.81 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted 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 net margin of 28.45% and a return on equity of 17.09%. The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the previous year, the firm posted $1.81 EPS. The business'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 8.62 EPS for the current year.

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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