Legato Capital Management LLC Sells 3,200 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Legato Capital Management reduced its stake in Intuitive Surgical by 27.4% in the fourth quarter, selling 3,200 shares and leaving it with 8,500 shares valued at about $4.8 million.
• Despite the sale, institutional ownership remains high, with 83.64% of ISRG stock held by institutional investors. Several other funds also made small additions to their positions during the period.
• Intuitive Surgical continues to draw attention for product innovation and analyst support, including more than 100 planned upgrades for its da Vinci 5 system and a consensus “Moderate Buy” rating from analysts, even as the stock has recently lagged the market.

Legato Capital Management LLC cut its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 27.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,500 shares of the medical equipment provider's stock after selling 3,200 shares during the quarter. Legato Capital Management LLC's holdings in Intuitive Surgical were worth $4,814,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ISRG. Riversedge Advisors LLC raised its holdings in Intuitive Surgical by 1.9% in the fourth quarter. Riversedge Advisors LLC now owns 901 shares of the medical equipment provider's stock worth $510,000 after purchasing an additional 17 shares during the period. Fiduciary Financial Group LLC raised its holdings in Intuitive Surgical by 2.1% in the fourth quarter. Fiduciary Financial Group LLC now owns 920 shares of the medical equipment provider's stock worth $521,000 after purchasing an additional 19 shares during the period. Prosperity Consulting Group LLC raised its holdings in Intuitive Surgical by 0.5% in the third quarter. Prosperity Consulting Group LLC now owns 4,033 shares of the medical equipment provider's stock worth $1,804,000 after purchasing an additional 19 shares during the period. Rossmore Private Capital raised its holdings in Intuitive Surgical by 2.0% in the third quarter. Rossmore Private Capital now owns 998 shares of the medical equipment provider's stock worth $446,000 after purchasing an additional 20 shares during the period. Finally, Activest Wealth Management raised its holdings in Intuitive Surgical by 21.7% in the third quarter. Activest Wealth Management now owns 112 shares of the medical equipment provider's stock worth $50,000 after purchasing an additional 20 shares during the period. 83.64% of the stock is owned by institutional investors.

Key Stories Impacting Intuitive Surgical

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

• Positive Sentiment: Intuitive unveiled more than 100 upcoming upgrades for its da Vinci 5 robotic surgery system, including improved force-feedback tools, telecollaboration features, and security/reliability enhancements, which could strengthen the company’s competitive moat and support future procedure growth. Intuitive Surgical’s Da Vinci 5 Upgrades Aim To Deepen Moat For Investors
• Positive Sentiment: Intuitive also announced innovations tied to its “Quintuple Aim” strategy, reinforcing product development momentum and the company’s push to improve surgeon autonomy and operating-room efficiency. Intuitive Announces Innovations to Advance Quintuple Aim
• Positive Sentiment: Wall Street commentary remains moderately optimistic, with analysts still bullish on Intuitive Surgical’s long-term prospects despite recent underperformance versus the broader market. Are Wall Street Analysts Bullish on Intuitive Surgical Stock?
• Neutral Sentiment: Investor interest continues around the SP platform, where strong procedure growth suggests an important future opportunity, but it remains unclear whether this is true addressable-market expansion or mostly a shift within existing robotic procedures. ISRG's SP Platform: Early-Stage Growth or Next TAM Expansion Driver?
• Neutral Sentiment: There was also minor insider selling by an executive, but the transactions were very small and made under a pre-arranged 10b5-1 plan, so the signal for investors is limited. Mark Brosius insider transaction
• Negative Sentiment: The stock has also been hurt by recent weakness after earnings, with market commentary noting a roughly 7% decline since the last report, reflecting concern that the shares may need more proof of sustained acceleration. Why Is Intuitive Surgical (ISRG) Down 7.2% Since Last Earnings Report?
• Negative Sentiment: Several articles also point out that ISRG has significantly lagged the market over the past six months, which may be keeping valuation-sensitive investors on the sidelines. 3 Big Reasons ISRG Should Be On Your Watchlist

Insider Transactions at Intuitive Surgical

In other Intuitive Surgical news, EVP Gary Loeb sold 400 shares of Intuitive Surgical stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $446.95, for a total value of $178,780.00. Following the sale, the executive vice president owned 6,120 shares of the company's stock, valued at $2,735,334. This trade represents a 6.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Myriam Curet sold 105 shares of Intuitive Surgical stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $493.95, for a total value of $51,864.75. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 5,701 shares of company stock worth $2,783,807. 0.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ISRG. Truist Financial cut their target price on shares of Intuitive Surgical from $650.00 to $580.00 and set a "buy" rating on the stock in a report on Wednesday, April 15th. BTIG Research reiterated a "buy" rating and issued a $574.00 target price on shares of Intuitive Surgical in a report on Wednesday, April 22nd. Citigroup upgraded shares of Intuitive Surgical from a "neutral" rating to a "buy" rating and set a $590.00 target price on the stock in a report on Wednesday, March 11th. JPMorgan Chase & Co. cut their target price on shares of Intuitive Surgical from $625.00 to $550.00 and set an "overweight" rating on the stock in a report on Wednesday, April 22nd. Finally, Barclays set a $651.00 target price on shares of Intuitive Surgical and gave the stock an "overweight" rating in a report on Thursday, April 23rd. Nineteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Intuitive Surgical has a consensus rating of "Moderate Buy" and a consensus target price of $579.33.

Intuitive Surgical Stock Down 0.4%

Shares of NASDAQ:ISRG opened at $438.10 on Friday. Intuitive Surgical, Inc. has a 12 month low of $417.74 and a 12 month high of $603.88. The company's fifty day simple moving average is $458.62 and its 200 day simple moving average is $510.61. The firm has a market cap of $155.16 billion, a price-to-earnings ratio of 53.10, a PEG ratio of 3.51 and a beta of 1.51.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its quarterly earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.42. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate 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. Research analysts expect that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current fiscal year.

Intuitive Surgical Company Profile

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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