Intuitive Surgical, Inc. $ISRG Stake Lessened by Banque Transatlantique SA

Key Points

• Banque Transatlantique SA reduced its Intuitive Surgical stake by 5.5% in the fourth quarter, selling 8,748 shares and leaving it with 151,383 shares valued at about $85.9 million.
• Despite the sale, institutional ownership remains high: major investors like State Street, Capital World Investors, Norges Bank, and Invesco all held large positions, and institutions own 83.64% of the company.
• Intuitive Surgical recently beat quarterly earnings and revenue estimates, reporting $2.50 EPS on $2.77 billion in revenue, while analysts currently rate the stock a consensus Moderate Buy with a $573.42 price target.

Banque Transatlantique SA cut its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 5.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,383 shares of the medical equipment provider's stock after selling 8,748 shares during the period. Intuitive Surgical accounts for 2.1% of Banque Transatlantique SA's portfolio, making the stock its 11th largest position. Banque Transatlantique SA's holdings in Intuitive Surgical were worth $85,881,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in ISRG. State Street Corp lifted its position in shares of Intuitive Surgical by 1.0% during the fourth 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 last quarter. Capital World Investors grew its stake 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 worth $4,449,491,000 after purchasing an additional 127,526 shares in the last quarter. Norges Bank bought a new stake in Intuitive Surgical in the fourth quarter valued at about $2,856,987,000. Invesco Ltd. increased its holdings in Intuitive Surgical by 17.4% in the fourth quarter. Invesco Ltd. now owns 4,128,735 shares of the medical equipment provider's stock valued at $2,338,350,000 after buying an additional 611,268 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in Intuitive Surgical by 1.1% during the third quarter. Fisher Asset Management LLC now owns 3,889,439 shares of the medical equipment provider's stock valued at $1,739,475,000 after buying an additional 40,702 shares in the last quarter. 83.64% of the stock is currently owned by institutional investors.

Intuitive Surgical Price Performance

ISRG opened at $406.78 on Friday. The stock's 50 day moving average price is $439.54 and its 200 day moving average price is $491.05. The stock has a market cap of $144.07 billion, a P/E ratio of 49.31, a P/E/G ratio of 3.27 and a beta of 1.46. 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 announced its quarterly 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. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the previous year, the firm posted $1.81 EPS. The firm's quarterly revenue was up 23.0% on a year-over-year basis. Equities analysts anticipate that Intuitive Surgical, Inc. will post 8.57 EPS for the current year.

Wall Street Analyst Weigh In

ISRG has been the topic of several research reports. TD Cowen dropped their price target on Intuitive Surgical from $660.00 to $585.00 and set a "buy" rating on the stock in a research report on Wednesday, April 22nd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Intuitive Surgical in a report on Tuesday, May 19th. Piper Sandler reiterated an "overweight" rating and set a $580.00 target price on shares of Intuitive Surgical in a research note on Tuesday, June 2nd. 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 report on Wednesday, April 22nd. Finally, Evercore cut their target price on shares of Intuitive Surgical from $550.00 to $480.00 and set a "neutral" rating on the stock in a report on Monday, April 6th. Nineteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $573.42.

Insider Activity at Intuitive Surgical

In other news, Director Amy L. Ladd sold 119 shares of the stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $463.50, for a total value of $55,156.50. Following the completion of the transaction, the director directly owned 120 shares in the company, valued at $55,620. This trade represents a 49.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of the firm's 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 transaction, the executive vice president owned 5,720 shares in the company, valued at $2,426,080.80. This represents a 6.54% decrease in their position. 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 have sold a total of 7,169 shares of company stock worth $3,059,135 over the last ninety days. 0.60% of the stock is currently owned by corporate insiders.

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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