Zurcher Kantonalbank Zurich Cantonalbank Sells 3,576 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Key Points

• Zurcher Kantonalbank reduced its stake in Intuitive Surgical by 1.9%, owning approximately 183,822 shares worth $91 million after the sale.
• Intuitive Surgical's stock received multiple upgrades from analysts, with price targets adjusted higher by firms like Evercore ISI and Wells Fargo, indicating strong confidence in the company's future performance.
• Director Jami K. Nachtsheim sold 2,400 shares for a total of $1.25 million, representing a significant decrease of 27.36% in his position just before earnings results were announced.

Zurcher Kantonalbank Zurich Cantonalbank trimmed its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 1.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 183,822 shares of the medical equipment provider's stock after selling 3,576 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.05% of Intuitive Surgical worth $91,042,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its position in shares of Intuitive Surgical by 24.9% in the fourth quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider's stock valued at $1,916,000 after acquiring an additional 731 shares during the period. Bank Pictet & Cie Europe AG boosted its position in shares of Intuitive Surgical by 0.5% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 190,969 shares of the medical equipment provider's stock valued at $99,678,000 after acquiring an additional 883 shares during the period. WINTON GROUP Ltd bought a new stake in shares of Intuitive Surgical in the fourth quarter valued at about $1,021,000. New Age Alpha Advisors LLC bought a new stake in shares of Intuitive Surgical in the fourth quarter valued at about $1,098,000. Finally, Orion Portfolio Solutions LLC boosted its position in shares of Intuitive Surgical by 1.6% in the fourth quarter. Orion Portfolio Solutions LLC now owns 13,059 shares of the medical equipment provider's stock valued at $6,816,000 after acquiring an additional 204 shares during the period. 83.64% of the stock is owned by institutional investors.

Intuitive Surgical Trading Up 0.6%

ISRG stock traded up $2.92 during trading on Tuesday, hitting $496.87. The company had a trading volume of 1,830,750 shares, compared to its average volume of 1,996,104. The business has a 50-day moving average of $528.51 and a 200-day moving average of $534.63. Intuitive Surgical, Inc. has a one year low of $425.00 and a one year high of $616.00. The stock has a market cap of $178.12 billion, a PE ratio of 69.30, a PEG ratio of 5.20 and a beta of 1.64.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 EPS for the quarter, beating the consensus estimate of $1.93 by $0.26. The business had revenue of $2.44 billion for 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 firm's revenue was up 21.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.78 earnings per share. Research analysts forecast that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

Insider Transactions at Intuitive Surgical

In other Intuitive Surgical news, Director Jami K. Nachtsheim sold 2,400 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $520.00, for a total transaction of $1,248,000.00. Following the transaction, the director directly owned 6,371 shares in the company, valued at approximately $3,312,920. This trade represents a 27.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gary S. Guthart sold 7,893 shares of the firm's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $498.64, for a total value of $3,935,765.52. Following the transaction, the insider owned 13,187 shares in the company, valued at approximately $6,575,565.68. This trade represents a 37.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,303 shares of company stock valued at $9,180,778 in the last 90 days. 0.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Evercore ISI boosted their target price on shares of Intuitive Surgical from $470.00 to $550.00 and gave the company an "in-line" rating in a research report on Tuesday, July 8th. Barclays reduced their target price on shares of Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Citigroup reissued 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. BTIG Research boosted their price target on Intuitive Surgical from $566.00 to $571.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Finally, Wall Street Zen raised Intuitive Surgical from a "hold" rating to a "buy" rating in a research note on Saturday. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Intuitive Surgical has an average rating of "Moderate Buy" and a consensus target price of $592.05.

Intuitive Surgical Company Profile

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.