Skandinaviska Enskilda Banken AB publ Boosts Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Key Points

• Skandinaviska Enskilda Banken AB publ increased its holdings in Intuitive Surgical by 1.0% in the first quarter, owning 169,081 shares valued at approximately $83.73 million.
• Analysts have mixed ratings on Intuitive Surgical; Deutsche Bank downgraded the stock to "sell," while Truist Financial and BTIG Research maintained "buy" ratings, reflecting varying outlooks on its future performance.
• Intuitive Surgical reported earnings per share (EPS) of $2.19 and revenues of $2.44 billion in its latest quarter, exceeding analysts' expectations and demonstrating a 21.4% increase in revenue year-over-year.

Skandinaviska Enskilda Banken AB publ grew its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 1.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 169,081 shares of the medical equipment provider's stock after acquiring an additional 1,700 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Intuitive Surgical were worth $83,725,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Phoenix Financial Ltd. grew its holdings in Intuitive Surgical by 13.7% in the first quarter. Phoenix Financial Ltd. now owns 14,260 shares of the medical equipment provider's stock valued at $7,068,000 after purchasing an additional 1,720 shares during the period. Zweig DiMenna Associates LLC acquired a new position in shares of Intuitive Surgical during the first quarter valued at approximately $12,750,000. Stevens Capital Management LP acquired a new stake in shares of Intuitive Surgical in the first quarter worth approximately $1,387,000. Prescott Group Capital Management L.L.C. purchased a new stake in shares of Intuitive Surgical during the first quarter worth approximately $270,000. Finally, Equitable Trust Co. lifted its holdings in Intuitive Surgical by 8.0% in the 1st quarter. Equitable Trust Co. now owns 3,154 shares of the medical equipment provider's stock valued at $1,562,000 after purchasing an additional 234 shares in the last quarter. Institutional investors and hedge funds own 83.64% of the company's stock.

Intuitive Surgical Stock Performance

Shares of ISRG traded up $7.25 during mid-day trading on Friday, hitting $495.86. 1,870,941 shares of the company's stock were exchanged, compared to its average volume of 1,842,693. The company has a market cap of $177.76 billion, a price-to-earnings ratio of 69.16, a P/E/G ratio of 5.53 and a beta of 1.64. The stock's 50-day moving average is $529.86 and its 200-day moving average is $535.07. Intuitive Surgical, Inc. has a fifty-two week low of $425.00 and a fifty-two week high of $616.00.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued its quarterly earnings results 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. Intuitive Surgical had a net margin of 28.51% and a return on equity of 14.56%. The company had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.35 billion. During the same quarter last year, the company posted $1.78 EPS. The firm's revenue was up 21.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

Insider Buying and Selling

In other Intuitive Surgical news, EVP Robert Desantis sold 188 shares of the company's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $515.91, for a total transaction of $96,991.08. Following the sale, the executive vice president owned 5,224 shares in the company, valued at $2,695,113.84. This represents a 3.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Mark Brosius sold 216 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $563.11, for a total value of $121,631.76. Following the completion of the sale, the senior vice president directly owned 907 shares in the company, valued at $510,740.77. This represents a 19.23% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,798 shares of company stock valued at $3,955,331. 0.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Royal Bank Of Canada upped their target price on shares of Intuitive Surgical from $605.00 to $615.00 and gave the stock an "outperform" rating in a report on Wednesday. Erste Group Bank reaffirmed a "hold" rating on shares of Intuitive Surgical in a research note on Wednesday. Barclays decreased their target price on shares of Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. UBS Group boosted their target price on Intuitive Surgical from $547.00 to $585.00 and gave the stock a "neutral" rating in a report on Wednesday. Finally, Wells Fargo & Company increased their price target on Intuitive Surgical from $559.00 to $599.00 and gave the company an "overweight" rating in a report on Wednesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $592.05.

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.