Intuitive Surgical, Inc. $ISRG Shares Sold by SVB Wealth LLC

Key Points

• SVB Wealth LLC reduced its stake in Intuitive Surgical by 25.4%, selling 6,192 shares and now holding 18,171 shares valued at approximately $9 million.
• Insider Gary S. Guthart sold 7,893 shares of Intuitive Surgical at an average price of $498.64, resulting in a 37.44% decrease in his position.
• Analysts have varied opinions on Intuitive Surgical, with thirteen giving a Buy rating, six a Hold rating, and one a Sell rating, while the average target price stands at $595.95.

SVB Wealth LLC trimmed its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 25.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,171 shares of the medical equipment provider's stock after selling 6,192 shares during the period. SVB Wealth LLC's holdings in Intuitive Surgical were worth $9,000,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. APG Asset Management N.V. lifted its stake in Intuitive Surgical by 35.6% during the first quarter. APG Asset Management N.V. now owns 461,189 shares of the medical equipment provider's stock worth $211,454,000 after purchasing an additional 121,026 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Intuitive Surgical by 5.3% during the first quarter. Smartleaf Asset Management LLC now owns 4,246 shares of the medical equipment provider's stock worth $2,089,000 after purchasing an additional 214 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Intuitive Surgical by 12.2% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 76,317 shares of the medical equipment provider's stock worth $37,798,000 after purchasing an additional 8,270 shares in the last quarter. Groupe la Francaise lifted its stake in Intuitive Surgical by 42.4% during the first quarter. Groupe la Francaise now owns 73,945 shares of the medical equipment provider's stock worth $37,515,000 after purchasing an additional 22,015 shares in the last quarter. Finally, Trinity Legacy Partners LLC lifted its stake in Intuitive Surgical by 478.1% during the first quarter. Trinity Legacy Partners LLC now owns 4,914 shares of the medical equipment provider's stock worth $2,434,000 after purchasing an additional 4,064 shares in the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Intuitive Surgical news, insider Gary S. Guthart sold 7,893 shares of Intuitive Surgical stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $498.64, for a total value of $3,935,765.52. Following the sale, the insider owned 13,187 shares of the company's stock, valued at approximately $6,575,565.68. The trade was a 37.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Myriam Curet sold 4,500 shares of Intuitive Surgical stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $492.48, for a total value of $2,216,160.00. Following the completion of the sale, the executive vice president directly owned 353 shares in the company, valued at $173,845.44. This represents a 92.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,839 shares of company stock valued at $7,896,972 over the last quarter. 0.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Erste Group Bank reiterated a "hold" rating on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. UBS Group increased their price objective on Intuitive Surgical from $547.00 to $585.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Zacks Research cut Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a research note on Wednesday. Citigroup restated a "buy" rating and issued a $650.00 price target (up from $590.00) on shares of Intuitive Surgical in a research note on Thursday, May 22nd. Finally, Truist Financial raised their price target on Intuitive Surgical from $590.00 to $600.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Thirteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $595.95.

Intuitive Surgical Stock Performance

Shares of ISRG stock opened at $476.16 on Friday. Intuitive Surgical, Inc. has a 1 year low of $425.00 and a 1 year high of $616.00. The stock's 50-day moving average is $504.42 and its two-hundred day moving average is $522.06. The firm has a market cap of $170.69 billion, a price-to-earnings ratio of 66.41, a PEG ratio of 4.92 and a beta of 1.59.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.93 by $0.26. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%.The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the company posted $1.78 earnings per share. The business's revenue was up 21.4% on a year-over-year basis. As a group, research analysts predict that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

Intuitive Surgical Profile

Intuitive Surgical, Inc develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally. The company offers the da Vinci Surgical System that enables complex surgery using a minimally invasive approach; and Ion endoluminal system, which extends its commercial offerings beyond surgery into diagnostic procedures enabling minimally invasive biopsies in the lung.

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