Intuitive Surgical, Inc. $ISRG Shares Bought by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in Intuitive Surgical by 17.4% in the fourth quarter, buying 611,268 additional shares and bringing its total holding to 4.13 million shares valued at about $2.34 billion.
• Intuitive Surgical reported strong quarterly results, with EPS of $2.50 beating estimates of $2.08 and revenue of $2.77 billion topping expectations; revenue also rose 23% year over year.
• Recent insider selling and mixed analyst sentiment were notable, as executives sold shares in pre-arranged transactions while analysts maintained a “Moderate Buy” consensus with a target price of $573.42.

Invesco Ltd. grew its position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 17.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,128,735 shares of the medical equipment provider's stock after buying an additional 611,268 shares during the quarter. Invesco Ltd. owned 1.16% of Intuitive Surgical worth $2,338,350,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Draper Asset Management LLC grew its position in shares of Intuitive Surgical by 41.9% during the fourth quarter. Draper Asset Management LLC now owns 5,029 shares of the medical equipment provider's stock worth $2,848,000 after acquiring an additional 1,485 shares during the last quarter. Deutsche Bank AG raised its position in Intuitive Surgical by 9.6% in the 4th quarter. Deutsche Bank AG now owns 1,522,191 shares of the medical equipment provider's stock valued at $862,108,000 after purchasing an additional 132,966 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in Intuitive Surgical by 29.3% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 71,077 shares of the medical equipment provider's stock worth $40,255,000 after purchasing an additional 16,119 shares during the period. Procyon Advisors LLC boosted its stake in Intuitive Surgical by 787.8% during the 4th quarter. Procyon Advisors LLC now owns 4,794 shares of the medical equipment provider's stock worth $2,715,000 after purchasing an additional 4,254 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its position in Intuitive Surgical by 22.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,463 shares of the medical equipment provider's stock worth $5,127,000 after purchasing an additional 2,102 shares during the last quarter. Institutional investors and hedge funds own 83.64% of the company's stock.

Intuitive Surgical Stock Up 1.1%

Shares of NASDAQ:ISRG opened at $406.78 on Friday. Intuitive Surgical, Inc. has a fifty-two week low of $396.68 and a fifty-two week high of $603.88. The firm's 50-day simple moving average is $439.54 and its 200-day simple moving average is $491.05. The company has a market cap of $144.07 billion, a price-to-earnings ratio of 49.31, a PEG ratio of 3.27 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.42. The firm had revenue of $2.77 billion during the quarter, compared to analysts' expectations 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 prior year, the company posted $1.81 earnings per share. On average, research analysts forecast that Intuitive Surgical, Inc. will post 8.57 EPS for the current year.

Insider Activity at Intuitive Surgical

In related news, SVP Iman Jeddi sold 5,625 shares of the company's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $420.55, for a total transaction of $2,365,593.75. Following the transaction, the senior vice president owned 6,463 shares of the company's stock, valued at $2,718,014.65. This represents a 46.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of the firm's stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $424.14, for a total value of $169,656.00. Following the completion of the sale, the executive vice president directly owned 5,720 shares of the company's stock, valued at approximately $2,426,080.80. This trade represents a 6.54% 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. Insiders have sold a total of 7,169 shares of company stock worth $3,059,135 over the last three months. 0.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ISRG shares. Zacks Research cut shares of Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a report on Monday, March 30th. Jefferies Financial Group dropped their price target on Intuitive Surgical from $560.00 to $515.00 and set a "hold" rating on the stock in a research report on Wednesday, April 22nd. Bank of America reduced their price objective on Intuitive Surgical from $520.00 to $515.00 in a research note on Friday, June 12th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Intuitive Surgical in a research report on Tuesday, May 19th. Finally, HSBC lowered their target price on Intuitive Surgical from $653.00 to $604.00 and set a "buy" rating on the stock in a research note on Wednesday, April 22nd. Nineteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $573.42.

Intuitive Surgical Company 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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