OMERS ADMINISTRATION Corp Sells 5,666 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• OMERS ADMINISTRATION Corp reduced its stake in Intuitive Surgical, Inc. by 22.1% during the first quarter, bringing its holdings to 20,005 shares valued at $9.91 million.
• Institutional ownership is significant, with 83.64% of Intuitive Surgical stock held by institutional investors and hedge funds, indicating strong market confidence.
• Analysts have varying ratings on the stock, with a consensus rating of "Moderate Buy" and an average price target of $595.95, reflecting positive growth expectations.

OMERS ADMINISTRATION Corp decreased its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 22.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,005 shares of the medical equipment provider's stock after selling 5,666 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Intuitive Surgical were worth $9,908,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. AlphaCore Capital LLC increased its stake in shares of Intuitive Surgical by 4.2% during the 4th quarter. AlphaCore Capital LLC now owns 451 shares of the medical equipment provider's stock valued at $235,000 after acquiring an additional 18 shares during the last quarter. Second Line Capital LLC boosted its holdings in Intuitive Surgical by 3.4% in the 4th quarter. Second Line Capital LLC now owns 578 shares of the medical equipment provider's stock worth $302,000 after acquiring an additional 19 shares during the period. Colonial Trust Co SC boosted its holdings in Intuitive Surgical by 8.8% in the 4th quarter. Colonial Trust Co SC now owns 246 shares of the medical equipment provider's stock worth $128,000 after acquiring an additional 20 shares during the period. Crown Wealth Group LLC boosted its holdings in Intuitive Surgical by 4.8% in the 1st quarter. Crown Wealth Group LLC now owns 440 shares of the medical equipment provider's stock worth $218,000 after acquiring an additional 20 shares during the period. Finally, FSM Wealth Advisors LLC raised its position in shares of Intuitive Surgical by 3.8% in the 1st quarter. FSM Wealth Advisors LLC now owns 546 shares of the medical equipment provider's stock valued at $270,000 after purchasing an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 83.64% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ISRG shares. Citigroup reissued a "buy" rating and set a $650.00 price target (up from $590.00) on shares of Intuitive Surgical in a research report on Thursday, May 22nd. Royal Bank Of Canada reissued an "outperform" rating and issued a $615.00 price target on shares of Intuitive Surgical in a research note on Tuesday, August 19th. BTIG Research raised their target price on Intuitive Surgical from $566.00 to $571.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Intuitive Surgical in a research report on Friday, August 22nd. Finally, Piper Sandler reissued an "overweight" rating and issued a $595.00 price objective (up from $575.00) on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. Thirteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $595.95.

Intuitive Surgical Stock Down 0.1%

ISRG traded down $0.54 during trading on Friday, hitting $473.30. The company's stock had a trading volume of 1,651,962 shares, compared to its average volume of 1,935,464. The firm's 50 day moving average price is $500.45 and its two-hundred day moving average price is $517.51. Intuitive Surgical, Inc. has a 12 month low of $425.00 and a 12 month high of $616.00. The stock has a market capitalization of $169.67 billion, a price-to-earnings ratio of 66.01, a price-to-earnings-growth ratio of 4.96 and a beta of 1.59.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.93 by $0.26. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%.The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the company posted $1.78 earnings per share. The firm's quarterly revenue was up 21.4% on a year-over-year basis. On average, sell-side analysts forecast that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Insider Activity

In related news, insider Gary S. Guthart sold 2,800 shares of the stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $495.24, for a total transaction of $1,386,672.00. Following the sale, the insider owned 18,520 shares of the company's stock, valued at $9,171,844.80. This represents a 13.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Mark Brosius sold 216 shares of the firm's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $563.11, for a total value of $121,631.76. Following the sale, the senior vice president directly owned 907 shares in the company, valued at approximately $510,740.77. This trade represents a 19.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,839 shares of company stock worth $7,896,972 over the last three months. Corporate insiders own 0.70% of the company's stock.

About Intuitive Surgical

Intuitive Surgical, Inc develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally. The company offers the da Vinci Surgical System that enables complex surgery using a minimally invasive approach; and Ion endoluminal system, which extends its commercial offerings beyond surgery into diagnostic procedures enabling minimally invasive biopsies in the lung.