Natixis Advisors LLC Grows Stake in Intuitive Surgical, Inc. $ISRG

Key Points

• Natixis Advisors LLC boosted its stake in Intuitive Surgical by 8.4% in the fourth quarter, buying 39,563 additional shares and bringing its total holding to 511,913 shares worth about $289.9 million.
• Intuitive Surgical reported better-than-expected Q1 earnings and revenue, posting $2.50 EPS versus $2.08 expected and $2.77 billion in revenue versus $2.62 billion expected. Revenue rose 23% year over year.
• Analyst sentiment remains generally positive despite some price-target cuts: the stock has a “Moderate Buy” consensus rating with a consensus target price of $576.71, while insiders have also made recent sales under pre-arranged trading plans.

Natixis Advisors LLC increased its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 8.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 511,913 shares of the medical equipment provider's stock after buying an additional 39,563 shares during the quarter. Natixis Advisors LLC owned about 0.14% of Intuitive Surgical worth $289,927,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Draper Asset Management LLC raised its position in shares of Intuitive Surgical by 41.9% during the 4th quarter. Draper Asset Management LLC now owns 5,029 shares of the medical equipment provider's stock worth $2,848,000 after purchasing an additional 1,485 shares during the last quarter. Atlantic Union Bankshares Corp raised its holdings in Intuitive Surgical by 19.3% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 22,759 shares of the medical equipment provider's stock valued at $10,179,000 after acquiring an additional 3,676 shares during the last quarter. AGF Management Ltd. raised its holdings in Intuitive Surgical by 0.6% in the 3rd quarter. AGF Management Ltd. now owns 464,179 shares of the medical equipment provider's stock valued at $207,595,000 after acquiring an additional 2,575 shares during the last quarter. Procyon Advisors LLC raised its holdings in Intuitive Surgical by 787.8% in the 4th quarter. Procyon Advisors LLC now owns 4,794 shares of the medical equipment provider's stock valued at $2,715,000 after acquiring an additional 4,254 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in Intuitive Surgical by 29.3% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 71,077 shares of the medical equipment provider's stock valued at $40,255,000 after acquiring an additional 16,119 shares during the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

Intuitive Surgical Stock Performance

NASDAQ:ISRG opened at $412.26 on Tuesday. The stock has a market capitalization of $146.01 billion, a P/E ratio of 49.97, a PEG ratio of 3.39 and a beta of 1.46. The company has a 50 day moving average price of $452.19 and a 200 day moving average price of $504.81. Intuitive Surgical, Inc. has a fifty-two week low of $411.83 and a fifty-two week high of $603.88.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $2.62 billion. During the same quarter last year, the company posted $1.81 EPS. The firm's quarterly revenue was up 23.0% on a year-over-year basis. Research analysts forecast that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on the stock. TD Cowen cut their price objective on shares of Intuitive Surgical from $660.00 to $585.00 and set a "buy" rating for the company in a report on Wednesday, April 22nd. Robert W. Baird increased their price objective on shares of Intuitive Surgical from $575.00 to $610.00 and gave the company an "outperform" rating in a report on Wednesday, April 22nd. Bank of America cut their price objective on shares of Intuitive Surgical from $650.00 to $520.00 and set a "buy" rating for the company in a report on Monday, May 18th. Truist Financial cut their price objective on shares of Intuitive Surgical from $650.00 to $580.00 and set a "buy" rating for the company in a report on Wednesday, April 15th. Finally, Evercore cut their price objective on shares of Intuitive Surgical from $550.00 to $480.00 and set a "neutral" rating for the company in a report on Monday, April 6th. Nineteen investment 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's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $576.71.

Insider Activity at Intuitive Surgical

In other Intuitive Surgical news, EVP Gary Loeb sold 400 shares of Intuitive Surgical stock in a transaction on Monday, May 11th. The shares were sold at an average price of $446.95, for a total value of $178,780.00. Following the transaction, the executive vice president directly owned 6,120 shares in the company, valued at approximately $2,735,334. The trade was a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 119 shares of the business's stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $463.50, for a total transaction of $55,156.50. Following the transaction, the director owned 120 shares in the company, valued at approximately $55,620. This trade represents a 49.79% 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. Insiders sold 4,833 shares of company stock valued at $2,357,582 in the last ninety days. 0.60% of the stock is currently owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.