State of Michigan Retirement System Trims Stake in Intuitive Surgical, Inc. $ISRG

Key Points

• State of Michigan reduced its ISRG stake by 1.9% in Q4, selling 4,100 shares to hold 209,353 shares (a position valued at about $118.6 million), which is roughly 0.6% of the pension's portfolio and its 25th-largest holding.
• Strong Q1 results and analyst bullishness: Intuitive Surgical beat estimates (EPS $2.50 vs. $2.08) with revenue of $2.77B (+23% YoY), prompting price-target increases (e.g., Baird to $610) and an overall "Moderate Buy" consensus (average PT ~$581.91).
• Potential headwinds: Insiders sold ~32,943 shares (~$17.3M) in the past three months, and the company faces operational/reliability risks from instrument recalls and incremental competition (e.g., J&J), which could pressure service and consumables revenue.

State of Michigan Retirement System reduced its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 209,353 shares of the medical equipment provider's stock after selling 4,100 shares during the quarter. Intuitive Surgical makes up approximately 0.6% of State of Michigan Retirement System's investment portfolio, making the stock its 25th biggest position. State of Michigan Retirement System owned approximately 0.06% of Intuitive Surgical worth $118,569,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Verdence Capital Advisors LLC grew its holdings in Intuitive Surgical by 121.0% during the fourth quarter. Verdence Capital Advisors LLC now owns 2,192 shares of the medical equipment provider's stock valued at $1,241,000 after purchasing an additional 1,200 shares during the period. Matisse Capital bought a new position in shares of Intuitive Surgical in the fourth quarter worth about $240,000. Dumont & Blake Investment Advisors LLC bought a new position in shares of Intuitive Surgical in the fourth quarter worth about $224,000. Simon Quick Advisors LLC purchased a new position in shares of Intuitive Surgical during the 4th quarter valued at about $284,000. Finally, Facet Wealth Inc. lifted its position in shares of Intuitive Surgical by 51.0% during the 4th quarter. Facet Wealth Inc. now owns 1,009 shares of the medical equipment provider's stock valued at $527,000 after buying an additional 341 shares in the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Intuitive Surgical

In other news, VP Fredrik Widman sold 133 shares of the business's stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $494.96, for a total value of $65,829.68. Following the transaction, the vice president owned 660 shares of the company's stock, valued at approximately $326,673.60. The trade was a 16.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Mark Brosius sold 645 shares of the company's stock in a transaction on Monday, March 9th. The stock was sold at an average price of $485.01, for a total transaction of $312,831.45. Following the transaction, the senior vice president owned 1,613 shares of the company's stock, valued at approximately $782,321.13. This represents a 28.57% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 32,943 shares of company stock worth $17,279,568. 0.60% of the stock is currently owned by corporate insiders.

Intuitive Surgical Stock Performance

NASDAQ:ISRG opened at $482.22 on Monday. The stock has a 50-day moving average price of $477.47 and a 200 day moving average price of $516.38. The stock has a market capitalization of $170.78 billion, a P/E ratio of 58.45, a P/E/G ratio of 3.88 and a beta of 1.68. Intuitive Surgical, Inc. has a 12-month low of $427.84 and a 12-month high of $603.88.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 EPS for the quarter, topping analysts' consensus estimates of $2.08 by $0.42. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The company had revenue of $2.77 billion for the quarter, compared to analysts' expectations of $2.62 billion. During the same period in the previous year, the firm earned $1.81 EPS. The firm's revenue was up 23.0% compared to the same quarter last year. On average, research analysts predict that Intuitive Surgical, Inc. will post 8.51 earnings per share for the current fiscal year.

Key Stories Impacting Intuitive Surgical

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

• Positive Sentiment: Q1 beat and accelerating growth — ISRG reported a better-than-expected Q1 (EPS $2.50 vs. $2.08 consensus) with ~23% revenue growth and commentary pointing to rising procedures and an improved outlook, which underpins the stock's upside today. Intuitive Surgical Beats Q1 — TipRanks
• Positive Sentiment: Innovation and pricing power — Coverage notes revenue is outpacing procedures as the da Vinci 5 platform drives higher ASPs and service/consumable mix, supporting margin and longer-term upside. Innovation-Led Growth — Zacks
• Positive Sentiment: Analyst support — Several sell‑side actions are favorable: Robert W. Baird raised its price target to $610 and BTIG reaffirmed a Buy; Goldman published a bullish outlook, adding conviction to the post‑earnings rally. Baird Raises PT — AmericanBankingNews BTIG Reaffirms Buy — AmericanBankingNews
• Neutral Sentiment: Mixed analyst moves — Some firms trimmed targets (Jefferies to $515, Leerink and others adjusted targets), leaving consensus views varied; this increases volatility around near‑term price action. Jefferies Lowers PT — AmericanBankingNews
• Neutral Sentiment: Short interest signal is uninformative — April data reported no meaningful short interest (0 shares reported), so short-squeeze risk appears minimal based on the published figures.
• Neutral Sentiment: Contained cyber incident disclosed — Management reported a contained cyber event with remediation underway; investors will watch disclosures but the company says operations are not materially disrupted. Cybersecurity and Q1 Coverage — Yahoo
• Negative Sentiment: Instrument recalls raise reliability questions — ISRG initiated multiple recalls of reusable da Vinci instruments after safety complaints (fraying/broken cables); recalls could pressure service/consumables revenue and hospital confidence if issues persist. Recalls and Revenue Risk — Yahoo
• Negative Sentiment: Competition creeping in — Johnson & Johnson earned CE mark for a stapler that integrates with Ottava, signaling incremental competition in the surgical robotics ecosystem that investors should monitor. J&J CE Mark — MedTechDive

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Robert W. Baird increased their target price on shares of Intuitive Surgical from $575.00 to $610.00 and gave the stock an "outperform" rating in a report on Wednesday, April 22nd. Mizuho set a $525.00 price target on shares of Intuitive Surgical and gave the company a "neutral" rating in a report on Monday, April 13th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Intuitive Surgical in a research report on Monday, December 29th. BTIG Research reissued a "buy" rating and issued a $574.00 price objective on shares of Intuitive Surgical in a research note on Wednesday, April 22nd. Finally, Piper Sandler decreased their price objective on shares of Intuitive Surgical from $620.00 to $580.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 22nd. Eighteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Intuitive Surgical has an average rating of "Moderate Buy" and an average price target of $581.91.

Intuitive Surgical 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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