Intuitive Surgical, Inc. $ISRG Shares Acquired by Atle Fund Management AB

Key Points

• Atle Fund Management AB increased its stake in Intuitive Surgical by 13.3% in Q4, holding 22,322 shares worth about $12.6 million at the end of the period.
• Intuitive Surgical reported better-than-expected quarterly results, with EPS of $2.50 versus $2.08 expected and revenue of $2.77 billion, up 23% year over year.
• Analysts remain mostly constructive on the stock, with a Moderate Buy consensus and a target price of $579.33, though some firms have recently lowered price targets or ratings.

Atle Fund Management AB grew its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 13.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,322 shares of the medical equipment provider's stock after buying an additional 2,615 shares during the quarter. Intuitive Surgical makes up about 4.0% of Atle Fund Management AB's investment portfolio, making the stock its 6th largest holding. Atle Fund Management AB's holdings in Intuitive Surgical were worth $12,642,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Intrust Bank NA boosted its position in Intuitive Surgical by 4.9% during the fourth quarter. Intrust Bank NA now owns 7,359 shares of the medical equipment provider's stock worth $4,168,000 after purchasing an additional 347 shares during the period. Cullen Frost Bankers Inc. boosted its position in Intuitive Surgical by 2.2% during the fourth quarter. Cullen Frost Bankers Inc. now owns 83,822 shares of the medical equipment provider's stock worth $47,473,000 after purchasing an additional 1,766 shares during the period. Hardy Reed LLC bought a new stake in Intuitive Surgical during the fourth quarter worth approximately $253,000. Jag Capital Management LLC bought a new stake in Intuitive Surgical during the fourth quarter worth approximately $18,771,000. Finally, Mitsubishi UFJ Asset Management UK Ltd. boosted its position in Intuitive Surgical by 23.3% during the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 5,300 shares of the medical equipment provider's stock worth $3,002,000 after purchasing an additional 1,000 shares during the period. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Myriam Curet sold 105 shares of the firm's 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value of $178,780.00. Following the completion of the transaction, the executive vice president owned 6,120 shares in the company, valued at approximately $2,735,334. This represents a 6.13% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 5,647 shares of company stock valued at $2,760,359 over the last 90 days. Corporate insiders own 0.60% of the company's stock.

Intuitive Surgical Stock Performance

Shares of ISRG stock opened at $441.58 on Wednesday. The stock's fifty day moving average is $461.52 and its 200-day moving average is $512.36. The stock has a market capitalization of $156.39 billion, a PE ratio of 53.52, a PEG ratio of 3.51 and a beta of 1.51. Intuitive Surgical, Inc. has a 52 week low of $417.74 and a 52 week high of $603.88.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 EPS for the quarter, topping the consensus estimate of $2.08 by $0.42. The company had revenue of $2.77 billion for the quarter, compared to analysts' expectations of $2.62 billion. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The business's revenue for the quarter was up 23.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.81 earnings per share. As a group, analysts forecast that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. The Goldman Sachs Group upped their price target on Intuitive Surgical from $609.00 to $621.00 and gave the stock a "buy" rating in a report on Wednesday, April 22nd. Wall Street Zen upgraded Intuitive Surgical from a "hold" rating to a "buy" rating in a report on Saturday. Evercore cut their price target on Intuitive Surgical from $550.00 to $480.00 and set a "neutral" rating for the company in a report on Monday, April 6th. Zacks Research downgraded shares of Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 30th. Finally, Raymond James Financial decreased their price target on shares of Intuitive Surgical from $615.00 to $577.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 22nd. Nineteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $579.33.

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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