Intuitive Surgical, Inc. $ISRG Shares Sold by AIA Group Ltd

Key Points

• AIA Group Ltd cut its stake in Intuitive Surgical by 21.4% in the first quarter, selling 14,032 shares and leaving it with 51,488 shares worth about $23.7 million.
• Wall Street remains broadly constructive on ISRG despite some target-price cuts: the stock has an average rating of “Moderate Buy” with an average target price of $523.46.
• Intuitive Surgical reported a strong quarter, beating EPS and revenue estimates, but the stock has been pressured by a cautious outlook and investor concerns about slower U.S. procedure growth.

AIA Group Ltd trimmed its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 21.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,488 shares of the medical equipment provider's stock after selling 14,032 shares during the quarter. AIA Group Ltd's holdings in Intuitive Surgical were worth $23,735,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of ISRG. Newbridge Financial Services Group Inc. increased its holdings in Intuitive Surgical by 300.0% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider's stock valued at $25,000 after purchasing an additional 33 shares during the last quarter. Holos Integrated Wealth LLC acquired a new stake in shares of Intuitive Surgical in the fourth quarter valued at $25,000. Olistico Wealth LLC acquired a new stake in shares of Intuitive Surgical in the fourth quarter valued at $28,000. Laurel Wealth Advisors LLC purchased a new stake in shares of Intuitive Surgical in the 4th quarter valued at $31,000. Finally, Turning Point Benefit Group Inc. raised its holdings in shares of Intuitive Surgical by 833.3% in the 4th quarter. Turning Point Benefit Group Inc. now owns 56 shares of the medical equipment provider's stock valued at $32,000 after buying an additional 50 shares during the period. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ISRG has been the subject of a number of research analyst reports. Jefferies Financial Group lowered their target price on Intuitive Surgical from $560.00 to $515.00 and set a "hold" rating for the company in a report on Wednesday, April 22nd. Zacks Research lowered shares of Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 30th. Barclays set a $651.00 price target on shares of Intuitive Surgical and gave the stock an "overweight" rating in a research report on Thursday, April 23rd. The Goldman Sachs Group set a $558.00 price objective on shares of Intuitive Surgical in a report on Wednesday, May 27th. Finally, Royal Bank Of Canada cut their target price on shares of Intuitive Surgical from $650.00 to $600.00 and set an "outperform" rating on the stock in a research note on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $523.46.

Insider Transactions at Intuitive Surgical

In other news, EVP Gary Loeb sold 400 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total value of $169,656.00. Following the transaction, the executive vice president owned 5,720 shares in the company, valued at approximately $2,426,080.80. This represents a 6.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 119 shares of the firm's stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $463.50, for a total value of $55,156.50. Following the sale, the director directly owned 120 shares in the company, valued at $55,620. This trade represents a 49.79% 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. In the last three months, insiders sold 7,169 shares of company stock valued at $3,059,135. Insiders own 0.60% of the company's stock.

Intuitive Surgical Price Performance

ISRG stock opened at $345.42 on Friday. The firm has a market capitalization of $122.33 billion, a P/E ratio of 39.57, a P/E/G ratio of 2.81 and a beta of 1.46. The business's 50-day moving average is $415.28 and its two-hundred day moving average is $467.88. Intuitive Surgical, Inc. has a 1 year low of $344.55 and a 1 year high of $603.88.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 EPS for the quarter, topping analysts' consensus estimates of $2.08 by $0.42. Intuitive Surgical had a return on equity of 17.09% and a net margin of 28.45%.The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same period in the previous year, the company posted $1.81 earnings per share. The business's revenue for the quarter was up 23.0% on a year-over-year basis. On average, analysts expect that Intuitive Surgical, Inc. will post 8.62 EPS for the current year.

Key Intuitive Surgical News

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

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.

Want to see what other hedge funds are holding ISRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.