Saudi Central Bank Boosts Holdings in Intuitive Surgical, Inc. $ISRG

Key Points

• Saudi Central Bank increased its Intuitive Surgical stake by 90% in the second quarter, owning 24,862 shares valued at approximately $9.9 million. Institutional investors and hedge funds collectively own 83.64% of the company.
• Intuitive Surgical reported quarterly earnings of $2.80 per share, exceeding the $2.48 consensus estimate, while revenue rose 18.4% year over year to $2.89 billion.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and a $508.68 price target, although insiders have sold 11,658 shares worth roughly $4.65 million over the past 90 days.

Saudi Central Bank grew its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 90.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,862 shares of the medical equipment provider's stock after acquiring an additional 11,777 shares during the quarter. Saudi Central Bank's holdings in Intuitive Surgical were worth $9,887,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Prosperity Consulting Group LLC raised its stake in 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 period. Valeo Financial Advisors LLC grew its stake in shares of Intuitive Surgical by 0.4% during the 4th quarter. Valeo Financial Advisors LLC now owns 4,941 shares of the medical equipment provider's stock valued at $2,798,000 after buying an additional 21 shares during the period. Dana Investment Advisors Inc. grew its stake in shares of Intuitive Surgical by 1.9% during the 4th quarter. Dana Investment Advisors Inc. now owns 1,140 shares of the medical equipment provider's stock valued at $646,000 after buying an additional 21 shares during the period. Forefront Wealth Partners LLC increased its holdings in shares of Intuitive Surgical by 2.6% during the 4th quarter. Forefront Wealth Partners LLC now owns 819 shares of the medical equipment provider's stock worth $464,000 after buying an additional 21 shares during the last quarter. Finally, High Note Wealth LLC increased its holdings in shares of Intuitive Surgical by 50.0% during the 4th quarter. High Note Wealth LLC now owns 69 shares of the medical equipment provider's stock worth $39,000 after buying an additional 23 shares during the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.

Intuitive Surgical Stock Performance

ISRG stock opened at $366.70 on Friday. The firm has a market cap of $129.55 billion, a P/E ratio of 42.00, a price-to-earnings-growth ratio of 2.77 and a beta of 1.47. Intuitive Surgical, Inc. has a 1 year low of $328.57 and a 1 year high of $603.88. The stock has a 50-day simple moving average of $381.44 and a 200-day simple moving average of $428.60.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its quarterly earnings results on Thursday, July 16th. The medical equipment provider reported $2.80 EPS for the quarter, topping the consensus estimate of $2.48 by $0.32. The firm had revenue of $2.89 billion for 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%.Intuitive Surgical's revenue for the quarter was up 18.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.81 EPS. On average, equities research analysts predict that Intuitive Surgical, Inc. will post 8.87 EPS for the current year.

Insider Activity

In related news, Director Amy L. Ladd sold 72 shares of Intuitive Surgical stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $393.10, for a total transaction of $28,303.20. Following the sale, the director owned 179 shares of the company's stock, valued at $70,364.90. The trade was a 28.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of the business's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $379.00, for a total transaction of $151,600.00. Following the completion of the transaction, the executive vice president owned 5,320 shares in the company, valued at $2,016,280. This represents a 6.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 11,658 shares of company stock worth $4,649,835. Company insiders own 0.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ISRG shares. Mizuho set a $500.00 target price on Intuitive Surgical and gave the company a "neutral" rating in a report on Wednesday, July 15th. BMO Capital Markets restated an "outperform" rating on shares of Intuitive Surgical in a research note on Monday, July 20th. Wall Street Zen downgraded Intuitive Surgical from a "buy" rating to a "hold" rating in a report on Saturday, August 15th. KeyCorp reaffirmed an "overweight" rating on shares of Intuitive Surgical in a research note on Wednesday, August 12th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Intuitive Surgical in a report on Friday, August 14th. Twenty-two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $508.68.

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.

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