Neville Rodie & Shaw Inc. Sells 2,802 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Neville Rodie & Shaw cut its Intuitive Surgical stake by 30.7% in the second quarter, selling 2,802 shares and retaining 6,320 shares valued at approximately $2.51 million.
• Intuitive Surgical reported a strong quarter, with earnings of $2.80 per share and revenue of $2.89 billion, beating analyst estimates; revenue increased 18.4% year over year.
• Despite recent price-target reductions, analysts maintain a “Moderate Buy” consensus, with an average target of $509.02 versus the stock’s reported price of $368.27.

Neville Rodie & Shaw Inc. lowered its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 30.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,320 shares of the medical equipment provider's stock after selling 2,802 shares during the quarter. Neville Rodie & Shaw Inc.'s holdings in Intuitive Surgical were worth $2,513,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ISRG. Newbridge Financial Services Group Inc. grew its stake in Intuitive Surgical by 300.0% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider's stock valued at $25,000 after purchasing an additional 33 shares in the last quarter. Laurel Wealth Advisors LLC acquired a new position in shares of Intuitive Surgical during the 4th quarter worth approximately $31,000. Turning Point Benefit Group Inc. increased its position in shares of Intuitive Surgical by 833.3% during the 4th quarter. Turning Point Benefit Group Inc. now owns 56 shares of the medical equipment provider's stock worth $32,000 after purchasing an additional 50 shares during the last quarter. Motiv8 Investments LLC bought a new stake in shares of Intuitive Surgical during the 4th quarter worth approximately $34,000. Finally, Oakworth Capital Inc. raised its stake in shares of Intuitive Surgical by 281.2% during the 4th quarter. Oakworth Capital Inc. now owns 61 shares of the medical equipment provider's stock worth $35,000 after purchasing an additional 45 shares in the last quarter. Institutional investors and hedge funds own 83.64% of the company's stock.

Intuitive Surgical Trading Down 1.9%

Shares of NASDAQ ISRG opened at $368.27 on Wednesday. Intuitive Surgical, Inc. has a 12 month low of $328.57 and a 12 month high of $603.88. The stock has a 50 day moving average of $395.65 and a 200-day moving average of $448.56. The company has a market capitalization of $130.10 billion, a P/E ratio of 42.18, a P/E/G ratio of 2.71 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its earnings results on Thursday, July 16th. The medical equipment provider reported $2.80 earnings per share for the quarter, topping analysts' consensus estimates of $2.48 by $0.32. Intuitive Surgical had a return on equity of 16.91% and a net margin of 28.45%.The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.83 billion. During the same period in the previous year, the firm earned $1.81 EPS. The firm's revenue was up 18.4% compared to the same quarter last year. Analysts predict that Intuitive Surgical, Inc. will post 8.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ISRG. BTIG Research decreased their target price on shares of Intuitive Surgical from $512.00 to $469.00 and set a "buy" rating for the company in a research note on Friday, July 17th. Royal Bank Of Canada dropped their price target on shares of Intuitive Surgical from $650.00 to $600.00 and set an "outperform" rating on the stock in a research report on Monday, July 13th. Truist Financial cut their price target on shares of Intuitive Surgical from $580.00 to $510.00 and set a "buy" rating for the company in a research note on Thursday, July 16th. Mizuho set a $500.00 price objective on shares of Intuitive Surgical and gave the company a "neutral" rating in a research report on Wednesday, July 15th. Finally, BNP Paribas Exane upgraded shares of Intuitive Surgical to an "outperform" rating in a research note on Tuesday, July 28th. Twenty equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $509.02.

Insiders Place Their Bets

In other news, SVP Iman Jeddi sold 5,625 shares of the firm's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $420.55, for a total transaction of $2,365,593.75. Following the completion of the sale, the senior vice president owned 6,463 shares in the company, valued at approximately $2,718,014.65. This trade represents a 46.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of Intuitive Surgical 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 sale, the executive vice president directly owned 5,720 shares of the company's stock, valued at $2,426,080.80. The trade was a 6.54% decrease in their position. 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 have sold 6,634 shares of company stock valued at $2,796,795. Company insiders own 0.60% of the company's stock.

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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