NS Partners Ltd Cuts Stake in Intuitive Surgical, Inc. $ISRG

Key Points

• NS Partners reduced its Intuitive Surgical stake by 35.8% in the second quarter, selling 25,614 shares and retaining 45,873 shares valued at approximately $18.2 million. Institutional investors collectively own 83.64% of the company.
• Company insiders sold 11,658 shares worth roughly $4.65 million over the past quarter, including Director Gary S. Guthart’s $4 million sale under a pre-arranged Rule 10b5-1 plan.
• Despite the ownership reductions, analysts maintain a “Moderate Buy” consensus with an average price target of $508.68. Intuitive Surgical recently exceeded quarterly EPS and revenue expectations, reporting $2.80 EPS and $2.89 billion in revenue, up 18.4% year over year.

NS Partners Ltd lessened its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 35.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,873 shares of the medical equipment provider's stock after selling 25,614 shares during the quarter. NS Partners Ltd's holdings in Intuitive Surgical were worth $18,243,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Motiv8 Investments LLC acquired a new position in Intuitive Surgical during the 4th quarter worth approximately $34,000. Main Street Group LTD acquired a new stake in Intuitive Surgical in the first quarter valued at approximately $30,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Intuitive Surgical during the fourth quarter valued at approximately $39,000. Vermillion Wealth Management Inc. lifted its position in shares of Intuitive Surgical by 58.1% during the first quarter. Vermillion Wealth Management Inc. now owns 68 shares of the medical equipment provider's stock worth $31,000 after purchasing an additional 25 shares in the last quarter. Finally, High Note Wealth LLC lifted its position in shares of Intuitive Surgical by 50.0% during the fourth quarter. High Note Wealth LLC now owns 69 shares of the medical equipment provider's stock worth $39,000 after purchasing an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 83.64% of the company's stock.

Insider Buying and Selling

In related news, Director Gary S. Guthart sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $400.00, for a total value of $4,000,000.00. Following the sale, the director owned 1,245,679 shares of the company's stock, valued at approximately $498,271,600. This trade represents a 0.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 72 shares of the company's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $393.10, for a total value of $28,303.20. Following the transaction, the director owned 179 shares of the company's stock, valued at approximately $70,364.90. The trade was a 28.69% 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 have sold a total of 11,658 shares of company stock valued at $4,649,835 over the last quarter. Company insiders own 0.60% of the company's stock.

Wall Street Analyst Weigh In

ISRG has been the subject of a number of analyst reports. Royal Bank Of Canada decreased their price objective on shares of Intuitive Surgical from $650.00 to $600.00 and set an "outperform" rating for the company in a research report on Monday, July 13th. Citigroup lowered their price objective on Intuitive Surgical from $590.00 to $500.00 and set a "buy" rating for the company in a research note on Friday, July 17th. Oppenheimer raised Intuitive Surgical from a "market perform" rating to an "outperform" rating and set a $500.00 target price on the stock in a research report on Wednesday, August 12th. Piper Sandler reissued an "overweight" rating on shares of Intuitive Surgical in a research report on Friday, August 21st. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $483.00 price target (down from $577.00) on shares of Intuitive Surgical in a report on Friday, July 17th. Twenty-two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $508.68.

Intuitive Surgical Price Performance

Intuitive Surgical stock opened at $376.86 on Tuesday. Intuitive Surgical, Inc. has a 12 month low of $328.57 and a 12 month high of $603.88. The company has a fifty day moving average price of $384.07 and a two-hundred day moving average price of $431.50. The company has a market cap of $133.14 billion, a PE ratio of 43.17, a P/E/G ratio of 2.69 and a beta of 1.47.

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

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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