Pictet Asset Management Holding SA Cuts Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Pictet Asset Management Holding SA cut its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 7.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 916,316 shares of the medical equipment provider's stock after selling 73,284 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.26% of Intuitive Surgical worth $453,809,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Intuitive Surgical in the first quarter valued at approximately $250,000. Commerzbank Aktiengesellschaft FI increased its position in shares of Intuitive Surgical by 15.4% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 11,131 shares of the medical equipment provider's stock worth $5,513,000 after purchasing an additional 1,485 shares in the last quarter. Asset Advisors Investment Management LLC purchased a new stake in shares of Intuitive Surgical during the first quarter worth approximately $1,707,000. Kingsview Wealth Management LLC increased its position in shares of Intuitive Surgical by 4.2% during the first quarter. Kingsview Wealth Management LLC now owns 4,535 shares of the medical equipment provider's stock worth $2,246,000 after purchasing an additional 181 shares in the last quarter. Finally, Concord Wealth Partners increased its position in shares of Intuitive Surgical by 210.4% during the first quarter. Concord Wealth Partners now owns 3,390 shares of the medical equipment provider's stock worth $1,679,000 after purchasing an additional 2,298 shares in the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.

Intuitive Surgical Stock Performance

Shares of Intuitive Surgical stock traded up $2.46 during trading hours on Friday, hitting $518.62. The company's stock had a trading volume of 1,903,997 shares, compared to its average volume of 1,676,454. Intuitive Surgical, Inc. has a twelve month low of $425.00 and a twelve month high of $616.00. The firm has a fifty day moving average of $535.90 and a 200-day moving average of $536.11. The stock has a market cap of $185.88 billion, a price-to-earnings ratio of 76.04, a P/E/G ratio of 5.47 and a beta of 1.64.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The medical equipment provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.71 by $0.10. Intuitive Surgical had a return on equity of 14.43% and a net margin of 28.41%. The business had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the prior year, the company posted $1.50 EPS. On average, sell-side analysts expect that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

Insider Transactions at Intuitive Surgical

In related news, SVP Mark Brosius sold 216 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $563.11, for a total transaction of $121,631.76. Following the transaction, the senior vice president 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jami K. Nachtsheim sold 2,400 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $520.00, for a total value of $1,248,000.00. Following the transaction, the director directly owned 6,371 shares in the company, valued at approximately $3,312,920. The trade was a 27.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,998 shares of company stock worth $2,611,577 in the last 90 days. Insiders own 0.70% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Piper Sandler dropped their price target on Intuitive Surgical from $670.00 to $575.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Robert W. Baird dropped their price target on Intuitive Surgical from $600.00 to $575.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Truist Financial dropped their price target on Intuitive Surgical from $605.00 to $590.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. BTIG Research set a $566.00 price target on Intuitive Surgical and gave the stock a "buy" rating in a research report on Monday. Finally, Barclays dropped their price target on Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat.com, Intuitive Surgical presently has a consensus rating of "Moderate Buy" and an average price target of $592.86.

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.