Lombard Odier Asset Management Switzerland SA Grows Position in Intuitive Surgical, Inc. $ISRG

Key Points

• Lombard Odier Asset Management Switzerland SA increased its stake in Intuitive Surgical by 52.3% in the fourth quarter, bringing its holdings to 17,287 shares valued at about $9.79 million.
• Intuitive Surgical’s latest quarterly results beat expectations, with EPS of $2.50 versus $2.08 expected and revenue of $2.77 billion, up 23% year over year.
• Wall Street remains generally bullish on the stock, with 19 Buy ratings and a consensus Moderate Buy rating; however, some analysts have trimmed price targets after the earnings report.

Lombard Odier Asset Management Switzerland SA lifted its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 52.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,287 shares of the medical equipment provider's stock after purchasing an additional 5,940 shares during the quarter. Lombard Odier Asset Management Switzerland SA's holdings in Intuitive Surgical were worth $9,791,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of ISRG. Norges Bank purchased a new position in shares of Intuitive Surgical during the 4th quarter worth $2,856,987,000. J. Stern & Co. LLP grew its holdings in shares of Intuitive Surgical by 18,504.6% during the 4th quarter. J. Stern & Co. LLP now owns 2,127,248 shares of the medical equipment provider's stock worth $1,204,788,000 after purchasing an additional 2,115,814 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Intuitive Surgical by 1,043.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,342,121 shares of the medical equipment provider's stock worth $760,124,000 after purchasing an additional 1,224,734 shares during the period. Polen Capital Management LLC acquired a new stake in Intuitive Surgical in the 4th quarter valued at approximately $477,225,000. Finally, Assenagon Asset Management S.A. raised its position in Intuitive Surgical by 106.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,533,771 shares of the medical equipment provider's stock valued at $868,667,000 after purchasing an additional 791,516 shares during the period. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Intuitive Surgical Stock Up 0.1%

NASDAQ:ISRG opened at $417.07 on Wednesday. The company has a fifty day simple moving average of $441.47 and a two-hundred day simple moving average of $493.43. The company has a market cap of $147.71 billion, a price-to-earnings ratio of 50.55, a price-to-earnings-growth ratio of 3.39 and a beta of 1.46. Intuitive Surgical, Inc. has a 52 week low of $396.68 and a 52 week high of $603.88.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 EPS for the quarter, topping the consensus estimate of $2.08 by $0.42. The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.62 billion. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The company's quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.81 earnings per share. On average, analysts expect that Intuitive Surgical, Inc. will post 8.57 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. HSBC decreased their price target on Intuitive Surgical from $653.00 to $604.00 and set a "buy" rating on the stock in a research note on Wednesday, April 22nd. The Goldman Sachs Group set a $558.00 target price on Intuitive Surgical in a research report on Wednesday, May 27th. Mizuho set a $525.00 target price on Intuitive Surgical and gave the company a "neutral" rating in a research report on Monday, April 13th. BTIG Research reaffirmed a "buy" rating and issued a $574.00 target price on shares of Intuitive Surgical in a research report on Wednesday, April 22nd. Finally, TD Cowen dropped their target price on Intuitive Surgical from $660.00 to $585.00 and set a "buy" rating for the company in a research report on Wednesday, April 22nd. Nineteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $573.42.

Insider Transactions at Intuitive Surgical

In other news, Director Amy L. Ladd sold 500 shares of the business's stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $473.46, for a total transaction of $236,730.00. Following the completion of the transaction, the director directly owned 239 shares of the company's stock, valued at approximately $113,156.94. The trade was a 67.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Iman Jeddi sold 5,625 shares of the business's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $420.55, for a total value of $2,365,593.75. Following the transaction, the senior vice president directly owned 6,463 shares of the company's stock, valued at approximately $2,718,014.65. This represents a 46.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 7,169 shares of company stock valued at $3,059,135. 0.60% of the stock is currently owned by corporate insiders.

Intuitive Surgical 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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