Robeco Institutional Asset Management B.V. Cuts Stock Holdings in Intuitive Surgical, Inc. $ISRG

Key Points

• Robeco Institutional Asset Management B.V. significantly reduced its holdings in Intuitive Surgical, cutting its shares by 58.5% to 147,976 shares, valued at approximately $80.4 million.
• Despite Robeco's sell-off, other institutional investors increased their stakes in the company, with Norway Savings Bank growing its position by 53.4% in the same quarter.
• Intuitive Surgical reported a 21.4% year-over-year increase in revenue for the quarter, achieving $2.44 billion and an EPS of $2.19, surpassing analyst estimates.

Robeco Institutional Asset Management B.V. decreased its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 58.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 147,976 shares of the medical equipment provider's stock after selling 208,168 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Intuitive Surgical were worth $80,412,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norway Savings Bank grew its position in shares of Intuitive Surgical by 53.4% in the 2nd quarter. Norway Savings Bank now owns 2,613 shares of the medical equipment provider's stock worth $1,420,000 after buying an additional 910 shares during the last quarter. IronOak Wealth LLC. purchased a new position in shares of Intuitive Surgical in the 2nd quarter worth approximately $1,099,000. Trust Co. of Oklahoma purchased a new position in shares of Intuitive Surgical in the 2nd quarter worth approximately $363,000. Neville Rodie & Shaw Inc. grew its position in shares of Intuitive Surgical by 11.9% in the 2nd quarter. Neville Rodie & Shaw Inc. now owns 10,427 shares of the medical equipment provider's stock worth $5,666,000 after buying an additional 1,110 shares during the last quarter. Finally, Banque Pictet & Cie SA grew its position in shares of Intuitive Surgical by 12.1% in the 2nd quarter. Banque Pictet & Cie SA now owns 37,768 shares of the medical equipment provider's stock worth $20,524,000 after buying an additional 4,085 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company's stock.

Intuitive Surgical Price Performance

ISRG stock opened at $443.01 on Friday. The firm's fifty day simple moving average is $464.42 and its 200-day simple moving average is $500.22. The company has a market capitalization of $158.81 billion, a P/E ratio of 61.79, a price-to-earnings-growth ratio of 4.59 and a beta of 1.61. Intuitive Surgical, Inc. has a 12 month low of $425.00 and a 12 month high of $616.00.

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

Insider Activity at Intuitive Surgical

In related news, Director Amy L. Ladd sold 336 shares of the business's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $470.11, for a total value of $157,956.96. Following the completion of the transaction, the director directly owned 1,074 shares in the company, valued at $504,898.14. The trade was a 23.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Myriam Curet sold 4,500 shares of the business's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $492.48, for a total transaction of $2,216,160.00. Following the completion of the transaction, the executive vice president owned 353 shares of the company's stock, valued at approximately $173,845.44. This represents a 92.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,224 shares of company stock worth $21,716,492 in the last three months. Company insiders own 0.70% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ISRG. The Goldman Sachs Group cut their price objective on shares of Intuitive Surgical from $621.00 to $567.00 and set a "buy" rating on the stock in a research report on Wednesday. Piper Sandler reissued an "overweight" rating and set a $595.00 target price (up previously from $575.00) on shares of Intuitive Surgical in a research report on Wednesday, July 23rd. Royal Bank Of Canada reissued an "outperform" rating and set a $615.00 target price on shares of Intuitive Surgical in a research report on Tuesday, August 19th. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Intuitive Surgical in a research report on Friday, August 22nd. Finally, Zacks Research downgraded shares of Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 20th. Fourteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Intuitive Surgical has a consensus rating of "Moderate Buy" and an average target price of $594.19.

Intuitive Surgical Profile

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.

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