Intech Investment Management LLC Sells 24,212 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Intech Investment Management cut its stake in Intuitive Surgical by 28.5% in the fourth quarter, selling 24,212 shares and leaving it with 60,747 shares valued at about $34.4 million.
• Insider selling has also been notable, with EVP Myriam Curet and SVP Mark Brosius both selling shares recently; insiders sold 5,481 shares worth about $2.67 million over the last 90 days.
• Intuitive Surgical’s fundamentals remain solid, as the company recently beat earnings and revenue expectations, and analysts still broadly view the stock favorably with a consensus “Moderate Buy” rating and an average price target of $576.71.

Intech Investment Management LLC decreased its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 28.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 60,747 shares of the medical equipment provider's stock after selling 24,212 shares during the period. Intech Investment Management LLC's holdings in Intuitive Surgical were worth $34,405,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of ISRG. Holos Integrated Wealth LLC bought a new stake in shares of Intuitive Surgical during the 4th quarter worth about $25,000. Newbridge Financial Services Group Inc. boosted its holdings in shares of Intuitive Surgical by 300.0% during the 4th 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 period. Greykasell Wealth Strategies Inc. bought a new stake in shares of Intuitive Surgical during the 3rd quarter worth about $27,000. Olistico Wealth LLC bought a new stake in shares of Intuitive Surgical during the 4th quarter worth about $28,000. Finally, Caitlin John LLC bought a new stake in shares of Intuitive Surgical during the 3rd quarter worth about $30,000. Institutional investors own 83.64% of the company's stock.

Insider Buying and Selling

In other news, EVP Myriam Curet sold 105 shares of the stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $493.95, for a total value of $51,864.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mark Brosius sold 645 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $485.01, for a total value of $312,831.45. Following the completion of the sale, the senior vice president directly owned 1,613 shares of the company's stock, valued at approximately $782,321.13. The trade was a 28.57% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 5,481 shares of company stock worth $2,673,871. Corporate insiders own 0.60% of the company's stock.

Intuitive Surgical Price Performance

ISRG stock opened at $423.63 on Friday. The company has a 50 day simple moving average of $454.60 and a 200 day simple moving average of $507.01. The stock has a market cap of $150.03 billion, a price-to-earnings ratio of 51.35, a P/E/G ratio of 3.34 and a beta of 1.51. Intuitive Surgical, Inc. has a 1 year low of $414.30 and a 1 year high of $603.88.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.08 by $0.42. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The business had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.62 billion. During the same period in the prior year, the company earned $1.81 EPS. The firm's quarterly revenue was up 23.0% compared to the same quarter last year. On average, equities research analysts anticipate that Intuitive Surgical, Inc. will post 8.57 EPS for the current fiscal year.

Trending Headlines about Intuitive Surgical

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

• Positive Sentiment: Intuitive Surgical announced Taylor Patton will become Chief Commercial and Marketing Officer effective July 1, while current commercial chief Henry Charlton moves to SVP of Global Business Operations. The change appears to be an internal promotion, suggesting leadership continuity rather than disruption. Article Title
• Positive Sentiment: The company has also highlighted major updates to its da Vinci 5 robotic surgical system, with more than 100 improvements set to roll out to U.S. customers starting in June. Investors may view that as a sign of continued innovation and potential to support procedure growth. Article Title
• Positive Sentiment: Recent commentary from market and research outlets has remained favorable, with articles arguing that Intuitive Surgical’s above-average financial growth and optimistic analyst outlook could make the stock attractive to growth investors. Article Title
• Neutral Sentiment: A market note said Intuitive Surgical underperformed competitors on Wednesday, but the item did not point to a company-specific setback or new fundamental issue. Article Title

Analyst Upgrades and Downgrades

Several brokerages recently commented on ISRG. Citigroup raised shares of Intuitive Surgical from a "neutral" rating to a "buy" rating and set a $590.00 target price for the company in a report on Wednesday, March 11th. Wall Street Zen downgraded shares of Intuitive Surgical from a "buy" rating to a "hold" rating in a report on Sunday, May 24th. TD Cowen cut their price objective on shares of Intuitive Surgical from $660.00 to $585.00 and set a "buy" rating for the company in a report on Wednesday, April 22nd. JPMorgan Chase & Co. cut their price objective on shares of Intuitive Surgical from $625.00 to $550.00 and set an "overweight" rating for the company in a report on Wednesday, April 22nd. Finally, The Goldman Sachs Group set a $558.00 price objective on shares of Intuitive Surgical in a report on Wednesday. Nineteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $576.71.

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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