Jennison Associates LLC Has $1.82 Billion Holdings in Intuitive Surgical, Inc. $ISRG

Key Points

• Jennison Associates increased its stake in Intuitive Surgical by 11.1% to 3,209,137 shares, worth about $1.82 billion, making ISRG its 28th-largest holding.
• Intuitive beat Q1 estimates (EPS $2.50 vs. $2.08; revenue $2.77B vs. $2.62B) and completed a $9.08B buyback (29.44M shares), but the stock has faced a pullback after an FDA alert on certain stapler reloads and post-earnings profit-taking.
• Institutional investors own about 83.64% of ISRG with several large managers adding positions, while insiders have sold ~5,906 shares (~$2.9M) in the past 90 days and currently hold roughly 0.60%.

Jennison Associates LLC increased its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 11.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,209,137 shares of the medical equipment provider's stock after acquiring an additional 321,759 shares during the period. Intuitive Surgical comprises 1.1% of Jennison Associates LLC's investment portfolio, making the stock its 28th biggest holding. Jennison Associates LLC owned 0.90% of Intuitive Surgical worth $1,817,527,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ISRG. Rakuten Investment Management Inc. acquired a new stake in shares of Intuitive Surgical in the 3rd quarter worth about $388,436,000. Assenagon Asset Management S.A. raised its holdings in shares of Intuitive Surgical by 106.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,533,771 shares of the medical equipment provider's stock worth $868,667,000 after acquiring an additional 791,516 shares during the last quarter. Amundi raised its holdings in shares of Intuitive Surgical by 29.7% in the 3rd quarter. Amundi now owns 3,227,472 shares of the medical equipment provider's stock worth $1,451,362,000 after acquiring an additional 739,444 shares during the last quarter. Sands Capital Management LLC raised its holdings in shares of Intuitive Surgical by 77.0% in the 3rd quarter. Sands Capital Management LLC now owns 1,341,109 shares of the medical equipment provider's stock worth $599,784,000 after acquiring an additional 583,539 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Intuitive Surgical by 41.3% in the 3rd quarter. Victory Capital Management Inc. now owns 1,941,310 shares of the medical equipment provider's stock worth $868,212,000 after acquiring an additional 567,483 shares during the last quarter. Institutional investors and hedge funds own 83.64% of the company's stock.

Insider Activity

In other news, SVP Mark Brosius sold 2,362 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $498.68, for a total transaction of $1,177,882.16. Following the completion of the transaction, the senior vice president directly owned 3,554 shares of the company's stock, valued at $1,772,308.72. This represents a 39.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Myriam Curet sold 421 shares of the stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $494.96, for a total transaction of $208,378.16. Following the transaction, the executive vice president directly owned 409 shares of the company's stock, valued at $202,438.64. This represents a 50.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 5,906 shares of company stock worth $2,907,726. 0.60% of the stock is owned by insiders.

Key Intuitive Surgical News

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

• Positive Sentiment: Erste Group raised its EPS forecasts (FY2026 to $8.56 and FY2027 to $9.83), signaling rising analyst confidence in Intuitive’s profitability outlook — this supports longer-term upside versus consensus.
• Positive Sentiment: Strong Q1 results and completed buyback — Intuitive reported better-than-expected Q1 revenue and EPS and finished a multi-year $9.08B repurchase (29.44M shares), boosting EPS via a smaller share count and demonstrating shareholder-return focus. How Strong Q1 2026 Results and Completed Buyback Will Impact Intuitive Surgical (ISRG) Investors
• Neutral Sentiment: Director Amy L. Ladd sold shares under a pre-arranged Rule 10b5-1 plan (transactions at ~$463–$473); scheduled plan sales limit the informational value of the trades but can add short-term supply. SEC Filing — Insider Sale
• Neutral Sentiment: International mix: analysts note stronger overall OUS growth but some pressure in China and delays in Japan that could temper international upside relative to the U.S. momentum. Is ISRG's International Weakness a Temporary Drag or Structural Risk?
• Negative Sentiment: FDA early alert about removal of certain 8mm SureForm 30 gray reloads (curved-tip staplers) re-focused investor attention on product-safety/regulatory risk; that notice, combined with profit-taking after a post-earnings rally, is the proximate cause of today’s pullback. Intuitive Surgical slips as investors weigh recent FDA stapler notice and post-earnings expectations
• Negative Sentiment: Valuation sensitivity after the strong post-earnings rally — some investors and at least one bank have trimmed price targets or tempered projections, making the stock vulnerable to short-term profit-taking despite solid fundamentals.

Analysts Set New Price Targets

ISRG has been the topic of a number of analyst reports. Raymond James Financial lowered their target price on shares of Intuitive Surgical from $615.00 to $577.00 and set an "outperform" rating on the stock in a report on Wednesday, April 22nd. Sanford C. Bernstein increased their price objective on shares of Intuitive Surgical from $740.00 to $750.00 and gave the company an "outperform" rating in a research note on Friday, January 23rd. The Goldman Sachs Group increased their price objective on shares of Intuitive Surgical from $609.00 to $621.00 and gave the company a "buy" rating in a research note on Wednesday, April 22nd. Jefferies Financial Group decreased their price objective on shares of Intuitive Surgical from $560.00 to $515.00 and set a "hold" rating for the company in a research note on Wednesday, April 22nd. Finally, Mizuho set a $525.00 price objective on shares of Intuitive Surgical and gave the company a "neutral" rating in a research note on Monday, April 13th. Eighteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $581.91.

Intuitive Surgical Stock Performance

NASDAQ:ISRG opened at $451.17 on Thursday. The firm has a market cap of $159.79 billion, a price-to-earnings ratio of 54.67, a price-to-earnings-growth ratio of 3.79 and a beta of 1.68. Intuitive Surgical, Inc. has a 52 week low of $427.84 and a 52 week high of $603.88. The firm has a 50-day moving average price of $475.70 and a two-hundred day moving average price of $516.39.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 EPS for the quarter, beating the consensus estimate of $2.08 by $0.42. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same quarter last year, the business posted $1.81 EPS. The company's revenue for the quarter was up 23.0% on a year-over-year basis. As a group, sell-side analysts forecast that Intuitive Surgical, Inc. will post 8.5 earnings per share for the current year.

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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