Public Employees Retirement System of Ohio Acquires New Shares in Intuitive Surgical, Inc. $ISRG

Key Points

• Public Employees Retirement System of Ohio acquired 140,550 Intuitive Surgical shares worth approximately $55.9 million, while institutional investors collectively own 83.64% of the company.
• Intuitive Surgical reported quarterly EPS of $2.80, beating estimates by $0.32, while revenue reached $2.89 billion, up 18.4% year over year.
• The stock opened at $367.07, well below its 52-week high of $603.88. Analysts maintain a “Moderate Buy” consensus with an average price target of $508.68, despite several recent target cuts and one downgrade to “Hold.”

Public Employees Retirement System of Ohio acquired a new position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 140,550 shares of the medical equipment provider's stock, valued at approximately $55,894,000.

Other large investors have also added to or reduced their stakes in the company. State Street Corp lifted its stake in Intuitive Surgical by 1.0% in the 4th quarter. State Street Corp now owns 15,701,591 shares of the medical equipment provider's stock worth $8,892,753,000 after purchasing an additional 162,264 shares in the last quarter. Capital World Investors grew its position in shares of Intuitive Surgical by 1.7% during the 4th quarter. Capital World Investors now owns 7,856,018 shares of the medical equipment provider's stock valued at $4,449,491,000 after purchasing an additional 127,526 shares in the last quarter. Norges Bank purchased a new position in shares of Intuitive Surgical during the 4th quarter valued at $2,856,987,000. Invesco Ltd. increased its holdings in shares of Intuitive Surgical by 17.4% in the fourth quarter. Invesco Ltd. now owns 4,128,735 shares of the medical equipment provider's stock worth $2,338,350,000 after purchasing an additional 611,268 shares during the period. Finally, Bank of America Corp DE raised its position in shares of Intuitive Surgical by 3.3% in the first quarter. Bank of America Corp DE now owns 3,616,973 shares of the medical equipment provider's stock worth $1,667,388,000 after buying an additional 116,292 shares in the last quarter. Institutional investors own 83.64% of the company's stock.

Intuitive Surgical Stock Down 0.9%

ISRG opened at $367.07 on Friday. The business's fifty day simple moving average is $385.28 and its 200 day simple moving average is $433.18. Intuitive Surgical, Inc. has a 52 week low of $328.57 and a 52 week high of $603.88. The stock has a market cap of $129.68 billion, a PE ratio of 42.05, a P/E/G ratio of 2.68 and a beta of 1.46.

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

Insider Buying and Selling

In other Intuitive Surgical news, Director Amy L. Ladd sold 72 shares of the company's stock in a transaction that occurred 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 completion of the sale, the director owned 179 shares of the company's stock, valued at $70,364.90. This represents a 28.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Iman Jeddi sold 5,625 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president owned 6,463 shares in the company, valued at $2,718,014.65. The trade was a 46.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 17,283 shares of company stock worth $7,015,429 over the last ninety days. Corporate insiders own 0.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ISRG. TD Cowen lowered Intuitive Surgical from a "buy" rating to a "hold" rating in a research note on Tuesday, July 28th. Bank of America lowered their price target on Intuitive Surgical from $520.00 to $515.00 in a report on Friday, June 12th. Royal Bank Of Canada dropped their price target on Intuitive Surgical from $650.00 to $600.00 and set an "outperform" rating for the company in a research report on Monday, July 13th. Truist Financial cut their price objective on Intuitive Surgical from $580.00 to $510.00 and set a "buy" rating for the company in a report on Thursday, July 16th. Finally, Leerink Partners decreased their price objective on shares of Intuitive Surgical from $573.00 to $454.00 and set an "outperform" rating on the stock in a research report on Friday, July 17th. Twenty-two analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Intuitive Surgical has an average rating of "Moderate Buy" and a consensus target price of $508.68.

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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