Intuitive Surgical, Inc. $ISRG Shares Sold by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. MD reduced its stake in Intuitive Surgical, Inc. by 4.7%, selling 686,369 shares and now holding 13,783,243 shares, which makes up 0.8% of its portfolio.
• Analysts have a consensus rating of "Moderate Buy" for Intuitive Surgical, with the average price target set at $595.95, noting recent price adjustments from major firms.
• In the latest earnings report, Intuitive Surgical surpassed expectations with $2.19 EPS and revenue of $2.44 billion, both exceeding analyst forecasts.

Price T Rowe Associates Inc. MD lessened its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 4.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,783,243 shares of the medical equipment provider's stock after selling 686,369 shares during the period. Intuitive Surgical accounts for approximately 0.8% of Price T Rowe Associates Inc. MD's investment portfolio, making the stock its 16th biggest position. Price T Rowe Associates Inc. MD owned approximately 3.85% of Intuitive Surgical worth $6,826,428,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Nuveen LLC acquired a new stake in Intuitive Surgical in the 1st quarter valued at about $1,715,899,000. GAMMA Investing LLC raised its holdings in Intuitive Surgical by 54,010.7% in the 1st quarter. GAMMA Investing LLC now owns 3,028,576 shares of the medical equipment provider's stock valued at $14,999,630,000 after acquiring an additional 3,022,979 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Intuitive Surgical by 26.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,819,666 shares of the medical equipment provider's stock valued at $1,396,496,000 after acquiring an additional 584,375 shares during the last quarter. Northern Trust Corp raised its holdings in Intuitive Surgical by 15.8% in the 4th quarter. Northern Trust Corp now owns 3,619,293 shares of the medical equipment provider's stock valued at $1,889,126,000 after acquiring an additional 494,496 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in Intuitive Surgical by 15.0% in the 1st quarter. Wellington Management Group LLP now owns 3,499,052 shares of the medical equipment provider's stock valued at $1,732,975,000 after acquiring an additional 457,080 shares during the last quarter. Institutional investors and hedge funds own 83.64% of the company's stock.

Intuitive Surgical Stock Up 1.3%

ISRG stock traded up $6.28 during midday trading on Friday, hitting $476.16. The company's stock had a trading volume of 2,023,902 shares, compared to its average volume of 1,973,062. Intuitive Surgical, Inc. has a 52-week low of $425.00 and a 52-week high of $616.00. The firm has a market capitalization of $170.69 billion, a P/E ratio of 66.41, a PEG ratio of 4.99 and a beta of 1.59. The firm has a 50-day simple moving average of $504.42 and a 200-day simple moving average of $521.58.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 EPS for the quarter, beating the consensus estimate of $1.93 by $0.26. Intuitive Surgical had a net margin of 28.51% and a return on equity of 14.56%. The company had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.35 billion. During the same quarter last year, the company posted $1.78 EPS. The firm's revenue was up 21.4% compared to the same quarter last year. On average, sell-side analysts expect that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ISRG has been the subject of several analyst reports. Truist Financial increased their price target on shares of Intuitive Surgical from $590.00 to $600.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Erste Group Bank reissued a "hold" rating on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. Royal Bank Of Canada reissued an "outperform" rating and issued a $615.00 price target on shares of Intuitive Surgical in a research note on Tuesday. Citigroup reissued a "buy" rating and issued a $650.00 price target (up previously from $590.00) on shares of Intuitive Surgical in a research note on Thursday, May 22nd. Finally, BTIG Research increased their price objective on shares of Intuitive Surgical from $566.00 to $571.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Thirteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $595.95.

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, EVP Myriam Curet sold 4,500 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $492.48, for a total value of $2,216,160.00. Following the completion of the transaction, the executive vice president owned 353 shares of the company's stock, valued at $173,845.44. This trade represents a 92.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Gary S. Guthart sold 7,893 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $498.64, for a total transaction of $3,935,765.52. Following the completion of the transaction, the insider directly owned 13,187 shares of the company's stock, valued at $6,575,565.68. This represents a 37.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,839 shares of company stock valued at $7,896,972 in the last 90 days. Company insiders own 0.70% of the company's stock.

Intuitive Surgical Company Profile

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.