Intuitive Surgical, Inc. $ISRG Shares Sold by Rockefeller Capital Management L.P.

Key Points

• Rockefeller Capital Management cut its Intuitive Surgical stake by 6.3% in Q4, selling 14,005 shares and leaving it with 206,929 shares worth about $117.2 million.
• Intuitive Surgical recently reported better-than-expected quarterly results, with EPS of $2.50 versus the $2.08 estimate and revenue of $2.77 billion, up 23% year over year.
• Despite the strong earnings, the stock has faced pressure from analysts and insiders, including multiple insider sales and several price-target cuts, while the consensus rating remains “Moderate Buy.”

Rockefeller Capital Management L.P. lowered its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 6.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 206,929 shares of the medical equipment provider's stock after selling 14,005 shares during the period. Rockefeller Capital Management L.P. owned approximately 0.06% of Intuitive Surgical worth $117,197,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Holos Integrated Wealth LLC acquired a new stake in shares of Intuitive Surgical during the fourth quarter worth $25,000. Newbridge Financial Services Group Inc. boosted its position in shares of 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 period. Olistico Wealth LLC acquired a new position in shares of Intuitive Surgical in the 4th quarter valued at $28,000. Caitlin John LLC purchased a new position in Intuitive Surgical in the 3rd quarter worth about $30,000. Finally, Laurel Wealth Advisors LLC purchased a new position in Intuitive Surgical in the 4th quarter worth about $31,000. Institutional investors and hedge funds own 83.64% of the company's stock.

Intuitive Surgical Stock Performance

Shares of Intuitive Surgical stock opened at $406.78 on Friday. Intuitive Surgical, Inc. has a 1 year low of $396.68 and a 1 year high of $603.88. The company has a market cap of $144.07 billion, a P/E ratio of 49.31, a P/E/G ratio of 3.31 and a beta of 1.46. The stock has a 50-day moving average price of $438.43 and a 200 day moving average price of $490.46.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, beating 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 previous year, the business posted $1.81 EPS. On average, equities analysts forecast that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Iman Jeddi sold 5,625 shares of the business's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $420.55, for a total transaction of $2,365,593.75. Following the transaction, the senior vice president directly owned 6,463 shares of the company's stock, valued at approximately $2,718,014.65. The trade was a 46.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 119 shares of the company'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 transaction, the director owned 120 shares in the company, valued at approximately $55,620. This 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. Over the last three months, insiders sold 7,169 shares of company stock worth $3,059,135. 0.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ISRG. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Intuitive Surgical from $440.00 to $366.00 and set a "sell" rating for the company in a research note on Tuesday, June 2nd. HSBC dropped their target price on shares of Intuitive Surgical from $653.00 to $604.00 and set a "buy" rating on the stock in a research report on Wednesday, April 22nd. TD Cowen cut their price target on shares of Intuitive Surgical from $660.00 to $585.00 and set a "buy" rating on the stock in a report on Wednesday, April 22nd. BTIG Research restated a "buy" rating and issued a $574.00 price target on shares of Intuitive Surgical in a research report on Wednesday, April 22nd. Finally, Bank of America decreased their price objective on shares of Intuitive Surgical from $520.00 to $515.00 in a research note on Friday, June 12th. 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's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $573.42.

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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