Manning & Napier Advisors LLC Sells 235,677 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Manning & Napier Advisors cut its Intuitive Surgical stake by 98% in the fourth quarter, selling 235,677 shares and leaving it with 4,816 shares worth about $2.76 million.
• Intuitive Surgical’s latest earnings beat expectations, reporting $2.50 EPS on $2.77 billion in revenue, with revenue up 23% year over year.
• Wall Street remains generally bullish on ISRG, with 18 Buy ratings, 7 Hold ratings, 1 Sell rating, and a consensus target price of $581.91.

Manning & Napier Advisors LLC lowered its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 98.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,816 shares of the medical equipment provider's stock after selling 235,677 shares during the period. Manning & Napier Advisors LLC's holdings in Intuitive Surgical were worth $2,758,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in ISRG. Brighton Jones LLC raised its position in shares of Intuitive Surgical by 24.9% during the fourth quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider's stock worth $1,916,000 after purchasing an additional 731 shares during the period. Sivia Capital Partners LLC grew its position in Intuitive Surgical by 3.8% in the 2nd quarter. Sivia Capital Partners LLC now owns 928 shares of the medical equipment provider's stock valued at $504,000 after purchasing an additional 34 shares during the period. Schnieders Capital Management LLC. increased its stake in Intuitive Surgical by 38.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 973 shares of the medical equipment provider's stock valued at $529,000 after purchasing an additional 268 shares in the last quarter. Osterweis Capital Management Inc. acquired a new position in Intuitive Surgical during the second quarter worth $200,000. Finally, Main Street Financial Solutions LLC raised its holdings in Intuitive Surgical by 92.4% during the second quarter. Main Street Financial Solutions LLC now owns 2,929 shares of the medical equipment provider's stock worth $1,592,000 after buying an additional 1,407 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ISRG has been the subject of a number of analyst reports. Sanford C. Bernstein lifted their price objective on shares of Intuitive Surgical from $740.00 to $750.00 and gave the company an "outperform" rating in a report on Friday, January 23rd. HSBC dropped their price target on shares of Intuitive Surgical from $653.00 to $604.00 and set a "buy" rating on the stock in a research report on Wednesday, April 22nd. JPMorgan Chase & Co. decreased their price objective on Intuitive Surgical from $625.00 to $550.00 and set an "overweight" rating for the company in a report on Wednesday, April 22nd. Robert W. Baird increased their price objective on Intuitive Surgical from $575.00 to $610.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 22nd. Finally, Argus dropped their target price on Intuitive Surgical from $630.00 to $560.00 and set a "buy" rating on the stock in a report on Wednesday, February 4th. Eighteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $581.91.

Intuitive Surgical Stock Performance

Shares of ISRG stock opened at $450.06 on Friday. The company has a market capitalization of $159.39 billion, a price-to-earnings ratio of 54.55, a PEG ratio of 3.59 and a beta of 1.51. Intuitive Surgical, Inc. has a 52-week low of $427.84 and a 52-week high of $603.88. The company has a 50-day simple moving average of $472.19 and a two-hundred day simple moving average of $517.39.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its 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 firm had revenue of $2.77 billion for the quarter, compared to analysts' expectations 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 last year, the firm earned $1.81 EPS. On average, sell-side analysts forecast that Intuitive Surgical, Inc. will post 8.57 EPS for the current fiscal year.

Insider Buying and Selling at Intuitive Surgical

In other news, Director Amy L. Ladd sold 119 shares of the firm's stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $463.50, for a total transaction of $55,156.50. Following the completion of the sale, the director directly owned 120 shares of the company's stock, valued at $55,620. This trade represents a 49.79% decrease in their position. The sale 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, SVP Mark Brosius sold 645 shares of Intuitive Surgical stock in a transaction on Monday, March 9th. The stock was sold at an average price of $485.01, for a total value of $312,831.45. Following the sale, the senior vice president owned 1,613 shares in the company, valued at $782,321.13. The trade was a 28.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 5,906 shares of company stock valued at $2,907,726 in the last ninety days. 0.60% of the stock is owned by corporate insiders.

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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