Intuitive Surgical, Inc. $ISRG Shares Sold by Terra Nova Asset Management LLC

Key Points

• Terra Nova Asset Management sharply reduced its Intuitive Surgical stake, cutting holdings by 88.6% in the first quarter and selling 3,855 shares to leave just 497 shares valued at about $229,000.
• Despite mixed fund activity, institutional ownership remains heavy, with hedge funds and other institutions owning 83.64% of Intuitive Surgical’s stock. Several other investors made small increases to their positions during recent quarters.
• Analyst sentiment is still constructive: the stock has a consensus rating of “Moderate Buy” with an average target price of $573.42, even though some firms recently trimmed price targets. The company also beat quarterly expectations, reporting EPS of $2.50 on revenue of $2.77 billion.

Terra Nova Asset Management LLC cut its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 88.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 497 shares of the medical equipment provider's stock after selling 3,855 shares during the quarter. Terra Nova Asset Management LLC's holdings in Intuitive Surgical were worth $229,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ISRG. Riversedge Advisors LLC increased its position in shares of Intuitive Surgical by 1.9% during the fourth quarter. Riversedge Advisors LLC now owns 901 shares of the medical equipment provider's stock worth $510,000 after acquiring an additional 17 shares during the period. Fiduciary Financial Group LLC raised its position in shares of Intuitive Surgical by 2.1% during the 4th quarter. Fiduciary Financial Group LLC now owns 920 shares of the medical equipment provider's stock worth $521,000 after acquiring an additional 19 shares in the last quarter. Prosperity Consulting Group LLC lifted its stake in Intuitive Surgical by 0.5% during the third quarter. Prosperity Consulting Group LLC now owns 4,033 shares of the medical equipment provider's stock worth $1,804,000 after purchasing an additional 19 shares during the last quarter. Sunburst Financial Group LLC lifted its stake in Intuitive Surgical by 4.3% during the fourth quarter. Sunburst Financial Group LLC now owns 485 shares of the medical equipment provider's stock worth $275,000 after purchasing an additional 20 shares during the last quarter. Finally, WoodTrust Financial Corp boosted its holdings in Intuitive Surgical by 0.5% in the fourth quarter. WoodTrust Financial Corp now owns 4,180 shares of the medical equipment provider's stock valued at $2,367,000 after purchasing an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 83.64% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ISRG shares. Robert W. Baird raised their price objective on shares of Intuitive Surgical from $575.00 to $610.00 and gave the stock an "outperform" rating in a report on Wednesday, April 22nd. Truist Financial lowered their target price on shares of Intuitive Surgical from $650.00 to $580.00 and set a "buy" rating for the company in a report on Wednesday, April 15th. Jefferies Financial Group dropped their target price on shares of Intuitive Surgical from $560.00 to $515.00 and set a "hold" rating on the stock in a research report on Wednesday, April 22nd. Citigroup upgraded shares of Intuitive Surgical from a "neutral" rating to a "buy" rating and set a $590.00 price target on the stock in a research note on Wednesday, March 11th. Finally, Bank of America reduced their price target on shares of Intuitive Surgical from $520.00 to $515.00 in a research report on Friday, June 12th. Nineteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $573.42.

Insider Activity at Intuitive Surgical

In other Intuitive Surgical news, EVP Gary Loeb sold 400 shares of Intuitive Surgical stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $424.14, for a total value of $169,656.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 dated 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 directly owned 120 shares of the company's stock, valued at $55,620. The trade was a 49.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 7,169 shares of company stock worth $3,059,135 in the last 90 days. 0.60% of the stock is owned by insiders.

Intuitive Surgical Stock Performance

Shares of NASDAQ ISRG opened at $406.78 on Monday. Intuitive Surgical, Inc. has a twelve month low of $396.68 and a twelve month high of $603.88. The stock has a 50 day moving average of $438.43 and a two-hundred day moving average of $489.92. The stock 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.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced 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 analyst estimates of $2.62 billion. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The company's revenue for the quarter was up 23.0% compared to the same quarter last year. During the same period last year, the firm posted $1.81 earnings per share. As a group, research analysts predict that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current year.

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.

Want to see what other hedge funds are holding ISRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.