Segall Bryant & Hamill LLC Increases Stock Position in Intuitive Surgical, Inc. $ISRG

Key Points

• Segall Bryant & Hamill increased its Intuitive Surgical position by 494.5% in the first quarter, owning 68,274 shares valued at approximately $33.65 million. Institutional investors collectively own 83.64% of ISRG.
• Intuitive Surgical exceeded quarterly expectations with $2.80 in EPS and $2.89 billion in revenue, up 18.4% year over year. However, the stock has declined substantially, trading near $353 versus a 52-week high of $603.88.
• Analysts maintain a broadly positive outlook, with a consensus “Moderate Buy” rating and $509.02 target price, but several firms recently lowered their targets amid concerns about softer U.S. procedure growth, deferred care and the stock’s premium valuation.

Segall Bryant & Hamill LLC grew its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 494.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 68,274 shares of the medical equipment provider's stock after buying an additional 56,790 shares during the period. Segall Bryant & Hamill LLC's holdings in Intuitive Surgical were worth $33,650,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Draper Asset Management LLC grew its stake in shares of Intuitive Surgical by 41.9% in the fourth quarter. Draper Asset Management LLC now owns 5,029 shares of the medical equipment provider's stock worth $2,848,000 after acquiring an additional 1,485 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of Intuitive Surgical by 9.6% during the fourth quarter. Deutsche Bank AG now owns 1,522,191 shares of the medical equipment provider's stock valued at $862,108,000 after acquiring an additional 132,966 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Intuitive Surgical by 29.3% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 71,077 shares of the medical equipment provider's stock worth $40,255,000 after purchasing an additional 16,119 shares during the last quarter. Robinhood Asset Management LLC purchased a new position in shares of Intuitive Surgical in the 4th quarter worth about $6,478,000. Finally, KBC Group NV boosted its stake in Intuitive Surgical by 4.7% in the 4th quarter. KBC Group NV now owns 420,593 shares of the medical equipment provider's stock worth $238,207,000 after purchasing an additional 18,697 shares in the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ISRG has been the topic of several recent analyst reports. BTIG Research cut their price objective on shares of Intuitive Surgical from $512.00 to $469.00 and set a "buy" rating on the stock in a research report on Friday, July 17th. Bank of America decreased their target price on shares of Intuitive Surgical from $520.00 to $515.00 in a report on Friday, June 12th. Barclays set a $651.00 target price on shares of Intuitive Surgical and gave the stock an "overweight" rating in a research note on Thursday, April 23rd. Leerink Partners reduced their price target on shares of Intuitive Surgical from $573.00 to $454.00 and set an "outperform" rating for the company in a research report on Friday, July 17th. Finally, Piper Sandler set a $357.44 price objective on shares of Intuitive Surgical in a report on Monday. Twenty investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $509.02.

Intuitive Surgical Stock Performance

ISRG opened at $353.33 on Friday. The company's 50-day simple moving average is $398.27 and its two-hundred day simple moving average is $451.98. The stock has a market capitalization of $124.82 billion, a P/E ratio of 40.47, a P/E/G ratio of 2.55 and a beta of 1.46. Intuitive Surgical, Inc. has a 52-week low of $328.57 and a 52-week high of $603.88.

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

Insider Activity at Intuitive Surgical

In other Intuitive Surgical news, SVP Iman Jeddi sold 5,625 shares of the business's stock in a transaction 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 completion of the sale, the senior vice president directly owned 6,463 shares in the company, valued at approximately $2,718,014.65. The trade was a 46.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of the stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $424.14, for a total value of $169,656.00. Following the transaction, the executive vice president directly owned 5,720 shares in the company, valued at $2,426,080.80. The trade was a 6.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 6,634 shares of company stock worth $2,796,795 in the last 90 days. 0.60% of the stock is currently owned by corporate insiders.

More Intuitive Surgical News

Here are the key news stories impacting Intuitive Surgical this week:

• Positive Sentiment: UBS upgraded ISRG, arguing that the recent selloff was excessive. The firm’s revised price target of $475 implies meaningful upside and may be supporting renewed investor interest. UBS upgrades Intuitive Surgical
• Positive Sentiment: Intuitive Surgical’s expansion beyond urology into general surgery and other specialties could create additional procedure growth and increase long-term demand for da Vinci systems, instruments and related services. Robotic surgery expansion beyond urology
• Positive Sentiment: Analyst sentiment remains broadly favorable, with the brokerage consensus at “Moderate Buy.” The company’s recurring revenue from instruments and accessories, expanding installed base and durable robotic-surgery demand remain key bullish arguments. Brokerage consensus on Intuitive Surgical
• Neutral Sentiment: Zacks highlighted the unusually high level of investor interest in ISRG, but the article did not provide a new earnings or guidance catalyst. Zacks investor attention report
• Neutral Sentiment: An executive’s small stock sales were made under a pre-arranged Rule 10b5-1 plan and reduced his holdings by roughly 2%, making them unlikely to materially alter the investment case. Intuitive Surgical insider sale
• Negative Sentiment: HSBC lowered Intuitive Surgical from Buy to Hold and set a $391 price target. Although that target remains above recent trading levels, the downgrade signals reduced confidence in the stock’s near-term upside. HSBC downgrades Intuitive Surgical
• Negative Sentiment: Despite a quarterly revenue and earnings beat, investors remain concerned about softer U.S. procedure growth, deferred care and the premium valuation. Those worries have contributed to continued pressure in the shares. Intuitive Surgical post-earnings selloff

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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