TCW Group Inc. Sells 3,502 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Key Points

• TCW Group Inc. sold 3,502 shares of Intuitive Surgical, Inc., reducing its holdings by 1.2% in Q1, leaving it with approximately 284,845 shares valued at $141.08 million.
• Several institutions have significantly increased their stakes in Intuitive Surgical, with GAMMA Investing LLC's holdings surging by over 54,000% in Q1, totaling more than 3 million shares valued at nearly $15 billion.
• Analysts maintain a Moderate Buy consensus on ISRG, with recent price target adjustments raising expectations to between $592 and $635, indicating a strong outlook for the company's stock.

TCW Group Inc. reduced its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 1.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 284,845 shares of the medical equipment provider's stock after selling 3,502 shares during the period. Intuitive Surgical makes up approximately 1.3% of TCW Group Inc.'s holdings, making the stock its 21st largest holding. TCW Group Inc. owned approximately 0.08% of Intuitive Surgical worth $141,075,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC grew its holdings in Intuitive Surgical by 54,010.7% during the first quarter. GAMMA Investing LLC now owns 3,028,576 shares of the medical equipment provider's stock worth $14,999,630,000 after purchasing an additional 3,022,979 shares during the period. Capital Research Global Investors grew its stake in shares of Intuitive Surgical by 25.5% during the fourth quarter. Capital Research Global Investors now owns 3,381,302 shares of the medical equipment provider's stock worth $1,764,904,000 after buying an additional 687,906 shares during the last quarter. Northern Trust Corp grew its stake in shares of Intuitive Surgical by 15.8% in the fourth quarter. Northern Trust Corp now owns 3,619,293 shares of the medical equipment provider's stock worth $1,889,126,000 after purchasing an additional 494,496 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Intuitive Surgical in the fourth quarter valued at $167,943,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Intuitive Surgical by 12.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,826,972 shares of the medical equipment provider's stock valued at $1,475,566,000 after buying an additional 319,694 shares during the period. 83.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Evercore ISI upped their target price on shares of Intuitive Surgical from $470.00 to $550.00 and gave the stock an "in-line" rating in a report on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft downgraded shares of Intuitive Surgical from a "hold" rating to a "sell" rating and cut their price objective for the stock from $515.00 to $440.00 in a report on Monday, June 9th. Barclays cut their price objective on shares of Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Truist Financial raised their price objective on shares of Intuitive Surgical from $590.00 to $600.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Finally, Citigroup reiterated a "buy" rating and issued a $650.00 target price (up previously from $590.00) on shares of Intuitive Surgical in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Intuitive Surgical has a consensus rating of "Moderate Buy" and an average price target of $592.05.

Intuitive Surgical Stock Down 0.4%

NASDAQ:ISRG traded down $1.91 during trading hours on Monday, reaching $493.95. 2,472,156 shares of the company's stock were exchanged, compared to its average volume of 1,835,437. The company has a 50-day moving average of $528.51 and a 200 day moving average of $534.63. Intuitive Surgical, Inc. has a 1-year low of $425.00 and a 1-year high of $616.00. The firm has a market capitalization of $177.07 billion, a price-to-earnings ratio of 68.89, a P/E/G ratio of 5.20 and a beta of 1.64.

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

Insider Buying and Selling at Intuitive Surgical

In related news, SVP Mark Brosius sold 216 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $563.11, for a total transaction of $121,631.76. Following the sale, the senior vice president directly owned 907 shares of the company's stock, valued at approximately $510,740.77. This represents a 19.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Myriam Curet sold 4,500 shares of the company's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $492.48, for a total value of $2,216,160.00. Following the transaction, the executive vice president owned 353 shares of the company's stock, valued at approximately $173,845.44. The trade was a 92.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,610 shares of company stock valued at $3,858,340 in the last three months. Corporate insiders own 0.70% of the company's stock.

About Intuitive Surgical

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.