Robocap Asset Management Ltd Lowers Stock Position in Intuitive Surgical, Inc. $ISRG

Key Points

• Robocap Asset Management trimmed its stake in Intuitive Surgical by 18.3% in Q4, selling 2,659 shares and leaving 11,883 shares valued at $6.73 million (about 6.0% of the firm's holdings and its 5th largest position).
• Several large institutions aggressively added to ISRG—Assenagon (+106.6%), Amundi (+29.7%), Sands Capital (+77.0%), Victory Capital (+41.3%) and a new Rakuten position—leaving institutional ownership at about 83.64%.
• Intuitive recently beat Q1 estimates with $2.50 EPS and $2.77B revenue (up 23% YoY), and analysts maintain a consensus of "Moderate Buy" with an average target of $581.91 despite some recent target cuts.

Robocap Asset Management Ltd trimmed its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 18.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,883 shares of the medical equipment provider's stock after selling 2,659 shares during the quarter. Intuitive Surgical accounts for approximately 6.0% of Robocap Asset Management Ltd's holdings, making the stock its 5th largest position. Robocap Asset Management Ltd's holdings in Intuitive Surgical were worth $6,730,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ISRG. Rakuten Investment Management Inc. bought a new position in shares of Intuitive Surgical during the 3rd quarter valued at $388,436,000. Assenagon Asset Management S.A. lifted its holdings in shares of Intuitive Surgical by 106.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,533,771 shares of the medical equipment provider's stock valued at $868,667,000 after buying an additional 791,516 shares during the period. Amundi lifted its holdings in shares of Intuitive Surgical by 29.7% during the 3rd quarter. Amundi now owns 3,227,472 shares of the medical equipment provider's stock valued at $1,451,362,000 after buying an additional 739,444 shares during the period. Sands Capital Management LLC lifted its holdings in shares of Intuitive Surgical by 77.0% during the 3rd quarter. Sands Capital Management LLC now owns 1,341,109 shares of the medical equipment provider's stock valued at $599,784,000 after buying an additional 583,539 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of Intuitive Surgical by 41.3% during the 3rd quarter. Victory Capital Management Inc. now owns 1,941,310 shares of the medical equipment provider's stock valued at $868,212,000 after buying an additional 567,483 shares during the period. 83.64% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Patricia L. Wadors sold 220 shares of the firm's stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $499.71, for a total transaction of $109,936.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Myriam Curet sold 421 shares of the firm's stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $494.96, for a total value of $208,378.16. Following the transaction, the executive vice president owned 409 shares of the company's stock, valued at approximately $202,438.64. The trade was a 50.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 5,906 shares of company stock valued at $2,907,726. 0.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Barclays set a $651.00 target price on Intuitive Surgical and gave the stock an "overweight" rating in a report on Thursday, April 23rd. Leerink Partners decreased their target price on Intuitive Surgical from $622.00 to $573.00 and set an "outperform" rating on the stock in a report on Wednesday, April 22nd. Truist Financial decreased their target price on Intuitive Surgical from $650.00 to $580.00 and set a "buy" rating on the stock in a report on Wednesday, April 15th. Jefferies Financial Group decreased their target price on Intuitive Surgical from $560.00 to $515.00 and set a "hold" rating on the stock in a report on Wednesday, April 22nd. Finally, BTIG Research reissued a "buy" rating and set a $574.00 price target on shares of Intuitive Surgical in a report on Wednesday, April 22nd. Eighteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $581.91.

Intuitive Surgical Stock Up 0.0%

NASDAQ:ISRG opened at $457.78 on Friday. The business's 50-day simple moving average is $474.86 and its two-hundred day simple moving average is $516.55. The stock has a market cap of $162.13 billion, a PE ratio of 55.49, a P/E/G ratio of 3.67 and a beta of 1.51. Intuitive Surgical, Inc. has a 52 week low of $427.84 and a 52 week high of $603.88.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued 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. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.62 billion. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The business's quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.81 earnings per share. Sell-side analysts anticipate that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current fiscal 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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