Intuitive Surgical, Inc. $ISRG Stock: BOCHK Asset Management Ltd Boosts Holdings

Key Points

• BOCHK Asset Management increased its Intuitive Surgical stake by 64.6% in the third quarter, owning 10,700 shares valued at approximately $4.35 million. Institutional investors and hedge funds collectively own 83.64% of ISRG.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $493.54, although some firms recently lowered targets and HSBC downgraded the stock to “Hold.”
• Intuitive Surgical reported quarterly EPS of $3.00 versus the $2.65 consensus estimate and revenue of $3.05 billion, up 21.7% year over year. Meanwhile, insiders sold approximately $16.8 million of shares over the past 90 days.

BOCHK Asset Management Ltd raised its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 64.6% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 10,700 shares of the medical equipment provider's stock after buying an additional 4,200 shares during the period. BOCHK Asset Management Ltd's holdings in Intuitive Surgical were worth $4,351,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of ISRG. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Intuitive Surgical during the 2nd quarter valued at approximately $14,316,000. Plato Investment Management Ltd purchased a new stake in Intuitive Surgical during the second quarter worth $4,315,000. Hikari Power Ltd acquired a new stake in Intuitive Surgical during the second quarter valued at $5,619,000. NewEdge Advisors LLC grew its position in Intuitive Surgical by 19.1% during the second quarter. NewEdge Advisors LLC now owns 50,825 shares of the medical equipment provider's stock valued at $20,212,000 after buying an additional 8,142 shares during the period. Finally, Nykredit A S acquired a new stake in Intuitive Surgical during the second quarter valued at $48,464,000. Institutional investors and hedge funds own 83.64% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ISRG shares. Royal Bank Of Canada cut their price target on Intuitive Surgical from $575.00 to $550.00 and set an "outperform" rating for the company in a research note on Wednesday, October 21st. Robert W. Baird upped their price target on Intuitive Surgical from $513.00 to $550.00 and gave the stock an "outperform" rating in a report on Wednesday, October 21st. Piper Sandler reiterated an "overweight" rating on shares of Intuitive Surgical in a research report on Friday, August 21st. Stifel Nicolaus cut their price objective on Intuitive Surgical from $670.00 to $550.00 and set a "buy" rating for the company in a research report on Friday, July 17th. Finally, HSBC downgraded Intuitive Surgical from a "buy" rating to a "hold" rating and set a $391.00 target price for the company. in a research note on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $493.54.

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, SVP Patricia L. Wadors sold 1,078 shares of the business's stock in a transaction dated Friday, October 23rd. The shares were sold at an average price of $443.80, for a total value of $478,416.40. 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 400 shares of the company's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $379.00, for a total value of $151,600.00. Following the completion of the transaction, the director owned 251 shares in the company, valued at $95,129. This represents a 61.44% 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. Over the last 90 days, insiders have sold 38,778 shares of company stock worth $16,814,967. Corporate insiders own 0.60% of the company's stock.

Intuitive Surgical Trading Up 1.1%

ISRG opened at $436.87 on Tuesday. Intuitive Surgical, Inc. has a twelve month low of $328.57 and a twelve month high of $603.88. The firm has a market capitalization of $151.44 billion, a PE ratio of 52.83, a PEG ratio of 3.06 and a beta of 1.46. The firm's 50-day moving average price is $402.70 and its 200 day moving average price is $433.43.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly earnings results on Tuesday, October 20th. The medical equipment provider reported $3.00 EPS for the quarter, beating the consensus estimate of $2.65 by $0.35. The firm had revenue of $3.05 billion during the quarter, compared to analysts' expectations of $2.91 billion. Intuitive Surgical had a return on equity of 18.17% and a net margin of 25.54%. The business's revenue for the quarter was up 21.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.40 earnings per share. As a group, analysts predict that Intuitive Surgical, Inc. will post 9.37 earnings per share for the current fiscal year.

Intuitive Surgical Company Profile

Intuitive Surgical, Inc develops and manufactures robotic-assisted systems and related technologies for minimally invasive surgery. Its products are designed to help surgeons perform procedures through small incisions while providing enhanced visualization, precision and control. The company's primary platform is the da Vinci Surgical System, which is used across a range of specialties, including urology, gynecology, general surgery, cardiothoracic surgery and other procedures.

The company also offers the Ion endoluminal system, which is designed to support minimally invasive lung biopsy procedures.

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