Intuitive Surgical, Inc. $ISRG Shares Sold by Royal Bank of Canada

Royal Bank of Canada lowered its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 12.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,882,391 shares of the medical equipment provider's stock after selling 257,458 shares during the quarter. Royal Bank of Canada owned about 0.53% of Intuitive Surgical worth $867,765,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. State Street Corp boosted its position in Intuitive Surgical by 1.0% during the 4th quarter. State Street Corp now owns 15,701,591 shares of the medical equipment provider's stock worth $8,892,753,000 after purchasing an additional 162,264 shares during the period. Capital World Investors raised its position in Intuitive Surgical by 1.7% in the fourth quarter. Capital World Investors now owns 7,856,018 shares of the medical equipment provider's stock valued at $4,449,491,000 after purchasing an additional 127,526 shares during the period. Norges Bank acquired a new position in shares of Intuitive Surgical during the fourth quarter worth about $2,856,987,000. Invesco Ltd. boosted its position in shares of Intuitive Surgical by 17.4% in the fourth quarter. Invesco Ltd. now owns 4,128,735 shares of the medical equipment provider's stock worth $2,338,350,000 after buying an additional 611,268 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of Intuitive Surgical by 9.4% in the fourth quarter. Wellington Management Group LLP now owns 3,445,880 shares of the medical equipment provider's stock worth $1,951,609,000 after buying an additional 294,651 shares during the period. Institutional investors and hedge funds own 83.64% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Raymond James Financial reiterated an "outperform" rating and set a $483.00 target price (down from $577.00) on shares of Intuitive Surgical in a report on Friday, July 17th. Royal Bank Of Canada reduced 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 report on Monday, July 13th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Intuitive Surgical from $440.00 to $366.00 and set a "sell" rating for the company in a report on Tuesday, June 2nd. BTIG Research dropped their price target on shares of Intuitive Surgical from $512.00 to $469.00 and set a "buy" rating on the stock in a research note on Friday, July 17th. Finally, Stifel Nicolaus cut their price objective on shares of Intuitive Surgical from $670.00 to $550.00 and set a "buy" rating on the stock in a report on Friday, July 17th. Twenty-one analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Intuitive Surgical presently has a consensus rating of "Moderate Buy" and an average target price of $517.21.

Intuitive Surgical Price Performance

ISRG opened at $361.80 on Wednesday. The stock has a market capitalization of $127.82 billion, a PE ratio of 41.44, a P/E/G ratio of 2.58 and a beta of 1.46. The firm's fifty day moving average price is $403.62 and its 200 day moving average price is $455.95. Intuitive Surgical, Inc. has a 12-month low of $328.57 and a 12-month high of $603.88.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly earnings results on Thursday, July 16th. The medical equipment provider reported $2.80 EPS for the quarter, topping analysts' consensus estimates of $2.48 by $0.32. The business had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.83 billion. Intuitive Surgical had a return on equity of 16.91% and a net margin of 28.45%.The company's revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period last year, the firm earned $1.81 earnings per share. On average, equities research analysts forecast that Intuitive Surgical, Inc. will post 8.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Iman Jeddi sold 5,625 shares of Intuitive Surgical stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $420.55, for a total value of $2,365,593.75. Following the sale, the senior vice president directly owned 6,463 shares in the company, valued at $2,718,014.65. This trade represents a 46.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $2,426,080.80. This represents a 6.54% decrease in their ownership of the stock. 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 90 days, insiders sold 6,550 shares of company stock valued at $2,767,249. 0.60% of the stock is currently owned by insiders.

Intuitive Surgical News Summary

Here are the key news stories impacting Intuitive Surgical this week:

• Positive Sentiment: Durable demand and improved margins: On its second-quarter earnings call, Intuitive Surgical highlighted continued demand for its da Vinci surgical systems and raised margin guidance. The company’s latest quarter also exceeded analyst expectations for revenue and earnings, supporting confidence in operating execution. ISRG Q2 Earnings Call Signals Durable Demand & U.S. Caution
• Positive Sentiment: Analysts see significant recovery potential: Wall Street’s average price target is substantially above the current trading level, with one analyst reportedly assigning a target of $685. The bullish view reflects expectations for further procedure growth, broader adoption of robotic-assisted surgery and recurring instrument and service revenue. Why Wall Street Thinks Intuitive Surgical Stock Could Soar
• Positive Sentiment: Patient-awareness campaign: Intuitive announced a collaboration with Deion “Coach Prime” Sanders to educate patients about surgical options and encourage discussions with physicians. The campaign could increase public awareness of da Vinci procedures, although its financial impact is likely longer term. Intuitive Collaborates with Deion Sanders
• Neutral Sentiment: Governance update: The board amended the company’s bylaws and proxy rules. The changes may affect shareholder proposals and corporate governance but do not appear to alter Intuitive Surgical’s operating outlook. Intuitive Surgical Tightens Shareholder Governance and Proxy Rules
• Negative Sentiment: U.S. growth and coverage risks: Management cautioned about slower U.S. procedure growth and deferred care. Separately, the loss of enhanced Affordable Care Act subsidies could reduce insurance coverage, potentially delaying elective procedures and limiting near-term demand. The ACA Coverage Debate Just Became a $50 Billion Question

Intuitive Surgical 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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