Phoenix Financial Ltd. Decreases Stake in Intuitive Surgical, Inc. $ISRG

Key Points

• Phoenix Financial Ltd. cut its stake in Intuitive Surgical by 16.9% in the fourth quarter, selling 2,623 shares and ending with 12,892 shares valued at about $7.3 million.
• Insider activity was also notable: director Amy L. Ladd and SVP Mark Brosius both sold shares, and insiders have sold 5,647 shares worth roughly $2.76 million over the last 90 days.
• Despite some mixed analyst moves, Intuitive Surgical recently delivered a strong quarter, with EPS of $2.50 beating estimates and revenue rising 23% year over year to $2.77 billion.

Phoenix Financial Ltd. lowered its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 16.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,892 shares of the medical equipment provider's stock after selling 2,623 shares during the period. Phoenix Financial Ltd.'s holdings in Intuitive Surgical were worth $7,305,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Riversedge Advisors LLC raised its holdings in shares of Intuitive Surgical by 1.9% during the fourth quarter. Riversedge Advisors LLC now owns 901 shares of the medical equipment provider's stock worth $510,000 after purchasing an additional 17 shares during the last quarter. Fiduciary Financial Group LLC raised its holdings in shares of Intuitive Surgical by 2.1% during the fourth quarter. Fiduciary Financial Group LLC now owns 920 shares of the medical equipment provider's stock worth $521,000 after purchasing an additional 19 shares during the last quarter. Prosperity Consulting Group LLC raised its holdings in shares of Intuitive Surgical by 0.5% during the third quarter. Prosperity Consulting Group LLC now owns 4,033 shares of the medical equipment provider's stock worth $1,804,000 after purchasing an additional 19 shares during the last quarter. Rossmore Private Capital raised its holdings in shares of Intuitive Surgical by 2.0% during the third quarter. Rossmore Private Capital now owns 998 shares of the medical equipment provider's stock worth $446,000 after purchasing an additional 20 shares during the last quarter. Finally, Activest Wealth Management raised its holdings in shares of Intuitive Surgical by 21.7% during the third quarter. Activest Wealth Management now owns 112 shares of the medical equipment provider's stock worth $50,000 after purchasing an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company's stock.

Insider Buying and Selling

In other news, Director Amy L. Ladd sold 500 shares of Intuitive Surgical stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $473.46, for a total value of $236,730.00. Following the sale, the director owned 239 shares in the company, valued at $113,156.94. This trade represents a 67.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark Brosius sold 2,362 shares of Intuitive Surgical stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $498.68, for a total transaction of $1,177,882.16. Following the completion of the sale, the senior vice president owned 3,554 shares in the company, valued at approximately $1,772,308.72. This trade represents a 39.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 5,647 shares of company stock valued at $2,760,359 in the last ninety days. Company insiders own 0.60% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ISRG shares. Wall Street Zen cut shares of Intuitive Surgical from a "buy" rating to a "hold" rating in a report on Saturday, February 7th. Raymond James Financial reduced their target price on shares of Intuitive Surgical from $615.00 to $577.00 and set an "outperform" rating for the company in a report on Wednesday, April 22nd. UBS Group reduced their target price on shares of Intuitive Surgical from $570.00 to $550.00 and set a "neutral" rating for the company in a report on Tuesday, March 17th. HSBC reduced their target price on shares of Intuitive Surgical from $653.00 to $604.00 and set a "buy" rating for the company in a report on Wednesday, April 22nd. Finally, The Goldman Sachs Group raised their target price on shares of Intuitive Surgical from $609.00 to $621.00 and gave the stock a "buy" rating in a report on Wednesday, April 22nd. Eighteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $581.91.

Intuitive Surgical Stock Performance

ISRG opened at $428.06 on Friday. Intuitive Surgical, Inc. has a fifty-two week low of $417.74 and a fifty-two week high of $603.88. The company has a fifty day moving average of $465.23 and a two-hundred day moving average of $514.69. The stock has a market capitalization of $151.60 billion, a price-to-earnings ratio of 51.89, a PEG ratio of 3.45 and a beta of 1.51.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, beating 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 company had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.62 billion. During the same quarter in the previous year, the company earned $1.81 earnings per share. The firm's revenue for the quarter was up 23.0% on a year-over-year basis. On average, equities research analysts forecast that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current year.

Intuitive Surgical Company 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.

Want to see what other hedge funds are holding ISRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report).

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.