Intuitive Surgical, Inc. $ISRG Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. cut its stake in Intuitive Surgical by 10.9% in the fourth quarter, selling 6,542 shares and leaving it with 53,718 shares valued at about $30.4 million.
• The article notes that insider selling has continued, including recent sales by Director Amy L. Ladd and EVP Gary Loeb; insiders sold 7,169 shares worth about $3.06 million over the last 90 days.
• Despite mixed trading activity, Intuitive Surgical reported strong quarterly results with EPS of $2.50 and revenue of $2.77 billion, both above estimates, while analysts still rate the stock a Moderate Buy with an average price target of $573.42.

Pacer Advisors Inc. trimmed its position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 10.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,718 shares of the medical equipment provider's stock after selling 6,542 shares during the quarter. Pacer Advisors Inc.'s holdings in Intuitive Surgical were worth $30,424,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Holos Integrated Wealth LLC acquired a new position in Intuitive Surgical in the 4th quarter worth approximately $25,000. Newbridge Financial Services Group Inc. lifted its stake in Intuitive Surgical by 300.0% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider's stock valued at $25,000 after acquiring an additional 33 shares during the period. Olistico Wealth LLC purchased a new stake in shares of Intuitive Surgical in the 4th quarter valued at $28,000. Caitlin John LLC acquired a new stake in shares of Intuitive Surgical in the third quarter worth $30,000. Finally, Laurel Wealth Advisors LLC purchased a new position in shares of Intuitive Surgical during the fourth quarter worth $31,000. Institutional investors and hedge funds own 83.64% of the company's stock.

Insider Activity

In other news, Director Amy L. Ladd sold 119 shares of the firm's stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $463.50, for a total transaction of $55,156.50. Following the completion of the sale, the director owned 120 shares in the company, valued at $55,620. This trade represents a 49.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of Intuitive Surgical stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $424.14, for a total transaction of $169,656.00. Following the sale, the executive vice president directly owned 5,720 shares in the company, valued at approximately $2,426,080.80. The trade was a 6.54% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 7,169 shares of company stock valued at $3,059,135 in the last 90 days. Company insiders own 0.60% of the company's stock.

Intuitive Surgical Price Performance

Shares of Intuitive Surgical stock opened at $406.78 on Friday. The stock has a market capitalization of $144.07 billion, a P/E ratio of 49.31, a PEG ratio of 3.31 and a beta of 1.46. The business has a 50 day simple moving average of $438.43 and a two-hundred day simple moving average of $490.46. Intuitive Surgical, Inc. has a 12 month low of $396.68 and a 12 month high of $603.88.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its quarterly earnings data 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. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The firm had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.62 billion. During the same period last year, the business earned $1.81 earnings per share. Intuitive Surgical's revenue was up 23.0% compared to the same quarter last year. As a group, research analysts anticipate that Intuitive Surgical, Inc. will post 8.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ISRG has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Intuitive Surgical from $440.00 to $366.00 and set a "sell" rating on the stock in a report on Tuesday, June 2nd. Barclays set a $651.00 price objective on Intuitive Surgical and gave the company an "overweight" rating in a report on Thursday, April 23rd. Jefferies Financial Group reduced their price target on Intuitive Surgical from $560.00 to $515.00 and set a "hold" rating for the company in a research report on Wednesday, April 22nd. Raymond James Financial decreased their price target on Intuitive Surgical from $615.00 to $577.00 and set an "outperform" rating for the company in a report on Wednesday, April 22nd. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $580.00 price objective on shares of Intuitive Surgical in a research note on Tuesday, June 2nd. Nineteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Intuitive Surgical has a consensus rating of "Moderate Buy" and an average 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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