Mediolanum International Funds Ltd Lowers Holdings in Intuitive Surgical, Inc. $ISRG

Key Points

• Mediolanum International Funds Ltd cut its stake in Intuitive Surgical by 5.9% in the first quarter, selling 3,103 shares and leaving it with 49,260 shares valued at about $22.3 million.
• Despite a recent pullback, analysts remain generally bullish on ISRG: the consensus rating is Moderate Buy with an average target price of $523.46, even though several firms lowered their price targets.
• Intuitive Surgical posted strong quarterly results, beating earnings and revenue estimates, but the stock has fallen sharply amid concerns about slower U.S. procedure growth and a cautious outlook.

Mediolanum International Funds Ltd lowered its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 5.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,260 shares of the medical equipment provider's stock after selling 3,103 shares during the quarter. Mediolanum International Funds Ltd's holdings in Intuitive Surgical were worth $22,304,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ISRG. Holos Integrated Wealth LLC purchased a new stake in Intuitive Surgical in the fourth quarter valued at approximately $25,000. Newbridge Financial Services Group Inc. increased its position in Intuitive Surgical by 300.0% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider's stock worth $25,000 after purchasing an additional 33 shares during the last quarter. Olistico Wealth LLC purchased a new position in Intuitive Surgical during the fourth quarter worth approximately $28,000. Main Street Group LTD purchased a new position in Intuitive Surgical during the first quarter worth approximately $30,000. Finally, Laurel Wealth Advisors LLC acquired a new position in shares of Intuitive Surgical in the 4th quarter valued at $31,000. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on ISRG. Evercore set a $430.00 price objective on shares of Intuitive Surgical in a research note on Monday, July 6th. HSBC cut their target price on Intuitive Surgical from $653.00 to $604.00 and set a "buy" rating on the stock in a research report on Wednesday, April 22nd. BTIG Research lowered their price target on Intuitive Surgical from $512.00 to $469.00 and set a "buy" rating for the company in a research report on Friday. Wells Fargo & Company restated an "overweight" rating and set a $487.00 price target (down from $654.00) on shares of Intuitive Surgical in a research note on Friday. Finally, Barclays set a $651.00 price target on Intuitive Surgical and gave the stock an "overweight" rating in a research note on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $523.46.

Intuitive Surgical News Summary

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

• Positive Sentiment: Intuitive Surgical reported stronger-than-expected Q2 revenue and earnings, helped by solid demand for its da Vinci robotic surgery systems and continued adoption of its products. Reuters article
• Positive Sentiment: The company still reported healthy procedure growth overall, with worldwide procedures rising and placements of robotic systems remaining strong, which supports the long-term investment case. Yahoo Finance article
• Neutral Sentiment: Several analysts lowered price targets after the report, but most kept bullish ratings such as overweight, buy, or outperform, suggesting Wall Street still sees meaningful upside despite the near-term pullback. Benzinga article
• Negative Sentiment: Management did not raise its forecast for procedure growth, and investors reacted badly to slower U.S. procedure growth and a cautious full-year outlook. Benzinga article
• Negative Sentiment: Reuters also noted concerns that changes to some insurance plans could reduce demand, adding to worries about slower U.S. growth and a softer near-term procedure trajectory. Reuters article

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, EVP Gary Loeb sold 400 shares of the business's stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total transaction of $169,656.00. Following the transaction, the executive vice president owned 5,720 shares in the company, valued at $2,426,080.80. The trade was a 6.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 500 shares of the company's stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $473.46, for a total value of $236,730.00. Following the completion of the sale, the director directly owned 239 shares of the company's stock, valued at $113,156.94. The trade was a 67.66% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 7,169 shares of company stock valued at $3,059,135 over the last three months. 0.60% of the stock is owned by company insiders.

Intuitive Surgical Trading Down 14.1%

Shares of ISRG stock opened at $345.42 on Friday. The company's fifty day simple moving average is $415.28 and its 200-day simple moving average is $467.88. Intuitive Surgical, Inc. has a 52 week low of $344.55 and a 52 week high of $603.88. The company has a market cap of $122.33 billion, a PE ratio of 39.57, a P/E/G ratio of 2.81 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.42. Intuitive Surgical had a net margin of 28.45% and a return on equity of 17.09%. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the previous year, the business posted $1.81 EPS. The business's quarterly revenue was up 23.0% on a year-over-year basis. Equities research analysts expect that Intuitive Surgical, Inc. will post 8.62 EPS for the current fiscal year.

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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