Intuitive Surgical, Inc. $ISRG Shares Sold by ING Groep NV

Key Points

• ING Groep NV trimmed its Intuitive Surgical stake by 4.4% in the fourth quarter, selling 9,107 shares and leaving it with 198,766 shares valued at about $112.6 million.
• Intuitive Surgical reported a strong quarter, with EPS of $2.50 beating expectations and revenue of $2.77 billion coming in above estimates; revenue also rose 23% year over year.
• Despite mixed analyst sentiment and some insider selling, Wall Street still has a Moderate Buy consensus on ISRG, with an average price target of $573.63.

ING Groep NV lessened its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 4.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 198,766 shares of the medical equipment provider's stock after selling 9,107 shares during the quarter. Intuitive Surgical comprises approximately 0.7% of ING Groep NV's holdings, making the stock its 28th largest position. ING Groep NV owned approximately 0.06% of Intuitive Surgical worth $112,573,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Capital World Investors boosted its position in Intuitive Surgical by 1.7% during the 4th quarter. Capital World Investors now owns 7,856,018 shares of the medical equipment provider's stock worth $4,449,491,000 after acquiring an additional 127,526 shares during the period. Capital International Sarl boosted its position in Intuitive Surgical by 6.1% during the 4th quarter. Capital International Sarl now owns 114,521 shares of the medical equipment provider's stock worth $64,860,000 after acquiring an additional 6,598 shares during the period. Capital International Ltd. CA boosted its position in Intuitive Surgical by 1.7% during the 4th quarter. Capital International Ltd. CA now owns 65,276 shares of the medical equipment provider's stock worth $36,970,000 after acquiring an additional 1,074 shares during the period. Capital Group Investment Management PTE. LTD. boosted its position in Intuitive Surgical by 2.1% during the 4th quarter. Capital Group Investment Management PTE. LTD. now owns 14,315 shares of the medical equipment provider's stock worth $8,107,000 after acquiring an additional 294 shares during the period. Finally, Los Angeles Capital Management LLC boosted its position in Intuitive Surgical by 1,004.8% during the 4th quarter. Los Angeles Capital Management LLC now owns 46,103 shares of the medical equipment provider's stock worth $24,436,000 after acquiring an additional 41,930 shares during the period. Institutional investors and hedge funds own 83.64% of the company's stock.

Intuitive Surgical Stock Performance

Shares of ISRG stock opened at $422.06 on Friday. Intuitive Surgical, Inc. has a 1 year low of $396.68 and a 1 year high of $603.88. The stock has a market cap of $149.48 billion, a PE ratio of 51.16, a price-to-earnings-growth ratio of 3.37 and a beta of 1.46. The business's fifty day moving average is $447.24 and its 200-day moving average is $501.02.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued its earnings results 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. The business 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 company's quarterly revenue was up 23.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.81 EPS. Equities research analysts predict that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Truist Financial lowered their price target on Intuitive Surgical from $650.00 to $580.00 and set a "buy" rating on the stock in a research report on Wednesday, April 15th. Raymond James Financial lowered their price target on Intuitive Surgical from $615.00 to $577.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 22nd. Piper Sandler reiterated an "overweight" rating and set a $580.00 price target on shares of Intuitive Surgical in a research report on Tuesday. Zacks Research cut Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 30th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Intuitive Surgical from $440.00 to $366.00 and set a "sell" rating on the stock in a research report on Tuesday, June 2nd. Nineteen equities 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 company. According to MarketBeat.com, Intuitive Surgical presently has an average rating of "Moderate Buy" and an average target price of $573.63.

Insiders Place Their Bets

In related news, EVP Gary Loeb sold 400 shares of Intuitive Surgical stock in a transaction on Monday, May 11th. The stock was sold at an average price of $446.95, for a total value of $178,780.00. Following the transaction, the executive vice president directly owned 6,120 shares in the company, valued at $2,735,334. The trade was a 6.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark Brosius sold 645 shares of Intuitive Surgical stock in a transaction on Monday, March 9th. The stock was sold at an average price of $485.01, for a total value of $312,831.45. Following the completion of the transaction, the senior vice president owned 1,613 shares in the company, valued at $782,321.13. The trade was a 28.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 7,448 shares of company stock worth $3,224,404. Corporate insiders own 0.60% of the company's stock.

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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