Intuitive Surgical, Inc. $ISRG Stock Position Lowered by Kentucky Retirement Systems

Key Points

• Kentucky Retirement Systems cut its Intuitive Surgical position by 86% in the first quarter, selling 19,264 shares and retaining 3,143 shares valued at $1.45 million. Institutional investors still own 83.64% of the company.
• Intuitive Surgical exceeded quarterly expectations, reporting $2.80 in adjusted earnings per share and $2.89 billion in revenue, with revenue up 18.4% year over year.
• Analysts remain broadly positive, with a “Moderate Buy” consensus and an average price target of $509.02, although several firms lowered targets amid concerns over slowing U.S. procedure growth, valuation and the recent share-price selloff.

Kentucky Retirement Systems decreased its position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 86.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,143 shares of the medical equipment provider's stock after selling 19,264 shares during the period. Kentucky Retirement Systems' holdings in Intuitive Surgical were worth $1,449,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. lifted its holdings in shares of Intuitive Surgical by 300.0% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider's stock valued at $25,000 after purchasing an additional 33 shares in the last quarter. Laurel Wealth Advisors LLC acquired a new stake in shares of Intuitive Surgical in the fourth quarter worth $31,000. Turning Point Benefit Group Inc. grew its holdings in shares of Intuitive Surgical by 833.3% during the fourth quarter. Turning Point Benefit Group Inc. now owns 56 shares of the medical equipment provider's stock valued at $32,000 after buying an additional 50 shares in the last quarter. Motiv8 Investments LLC purchased a new position in shares of Intuitive Surgical during the fourth quarter valued at $34,000. Finally, Oakworth Capital Inc. raised its position in Intuitive Surgical by 281.2% during the fourth quarter. Oakworth Capital Inc. now owns 61 shares of the medical equipment provider's stock valued at $35,000 after buying an additional 45 shares during the period. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Intuitive Surgical Stock Up 0.1%

Shares of Intuitive Surgical stock opened at $353.33 on Friday. The stock has a market capitalization of $124.82 billion, a P/E ratio of 40.47, a PEG ratio of 2.55 and a beta of 1.46. The stock has a 50 day moving average price of $398.27 and a two-hundred day moving average price of $451.98. 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 announced its quarterly earnings results on Thursday, July 16th. The medical equipment provider reported $2.80 EPS for the quarter, beating the consensus estimate of $2.48 by $0.32. Intuitive Surgical had a return on equity of 16.91% and a net margin of 28.45%.The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.83 billion. During the same quarter last year, the company posted $1.81 earnings per share. The company's revenue for the quarter was up 18.4% compared to the same quarter last year. Sell-side analysts anticipate that Intuitive Surgical, Inc. will post 8.87 earnings per share for the current year.

More Intuitive Surgical News

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

• Positive Sentiment: UBS upgraded ISRG, arguing that the recent selloff was excessive. The firm’s revised price target of $475 implies meaningful upside and may be supporting renewed investor interest. UBS upgrades Intuitive Surgical
• Positive Sentiment: Intuitive Surgical’s expansion beyond urology into general surgery and other specialties could create additional procedure growth and increase long-term demand for da Vinci systems, instruments and related services. Robotic surgery expansion beyond urology
• Positive Sentiment: Analyst sentiment remains broadly favorable, with the brokerage consensus at “Moderate Buy.” The company’s recurring revenue from instruments and accessories, expanding installed base and durable robotic-surgery demand remain key bullish arguments. Brokerage consensus on Intuitive Surgical
• Neutral Sentiment: Zacks highlighted the unusually high level of investor interest in ISRG, but the article did not provide a new earnings or guidance catalyst. Zacks investor attention report
• Neutral Sentiment: An executive’s small stock sales were made under a pre-arranged Rule 10b5-1 plan and reduced his holdings by roughly 2%, making them unlikely to materially alter the investment case. Intuitive Surgical insider sale
• Negative Sentiment: HSBC lowered Intuitive Surgical from Buy to Hold and set a $391 price target. Although that target remains above recent trading levels, the downgrade signals reduced confidence in the stock’s near-term upside. HSBC downgrades Intuitive Surgical
• Negative Sentiment: Despite a quarterly revenue and earnings beat, investors remain concerned about softer U.S. procedure growth, deferred care and the premium valuation. Those worries have contributed to continued pressure in the shares. Intuitive Surgical post-earnings selloff

Analysts Set New Price Targets

Several brokerages recently issued reports on ISRG. Jefferies Financial Group reduced their price objective on Intuitive Surgical from $560.00 to $515.00 and set a "hold" rating for the company in a research note on Wednesday, April 22nd. Truist Financial lowered their target price on Intuitive Surgical from $580.00 to $510.00 and set a "buy" rating on the stock in a research note on Thursday, July 16th. Sanford C. Bernstein dropped their target price on Intuitive Surgical from $750.00 to $685.00 and set an "outperform" rating on the stock in a report on Friday, July 17th. JPMorgan Chase & Co. reduced their price target on shares of Intuitive Surgical from $550.00 to $450.00 and set an "overweight" rating for the company in a research report on Friday, July 17th. Finally, Raymond James Financial restated an "outperform" rating and set a $483.00 price target (down from $577.00) on shares of Intuitive Surgical in a report on Friday, July 17th. Twenty investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Intuitive Surgical presently has an average rating of "Moderate Buy" and an average price target of $509.02.

Insider Buying and Selling at Intuitive Surgical

In related 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 owned 5,720 shares in the company, valued at $2,426,080.80. This trade represents a 6.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Iman Jeddi sold 5,625 shares of the business's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $420.55, for a total transaction of $2,365,593.75. Following the transaction, the senior vice president directly owned 6,463 shares of the company's stock, valued at approximately $2,718,014.65. This represents a 46.53% 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. Over the last ninety days, insiders have sold 6,634 shares of company stock valued at $2,796,795. 0.60% of the stock is owned by 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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