State of New Jersey Common Pension Fund D Trims Stock Position in Intuitive Surgical, Inc. $ISRG

Key Points

• The State of New Jersey Common Pension Fund D decreased its holdings in Intuitive Surgical, Inc. by 8.0%, selling 10,497 shares, and now owns 120,260 shares valued at approximately $59.6 million.
• Intuitive Surgical reported strong quarterly earnings, with an EPS of $2.19 exceeding estimates, and a revenue of $2.44 billion, reflecting a year-over-year revenue increase of 21.4%.
• Analysts have mixed ratings on Intuitive Surgical, with one downgrade to "sell" from Deutsche Bank, while others, including Citigroup and Piper Sandler, maintain "buy" ratings with target prices up to $650.00.

State of New Jersey Common Pension Fund D trimmed its position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 8.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 120,260 shares of the medical equipment provider's stock after selling 10,497 shares during the period. State of New Jersey Common Pension Fund D's holdings in Intuitive Surgical were worth $59,561,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Chilton Capital Management LLC boosted its holdings in Intuitive Surgical by 614.3% during the 1st quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock valued at $25,000 after acquiring an additional 43 shares during the period. Parvin Asset Management LLC acquired a new position in Intuitive Surgical during the 4th quarter valued at about $26,000. Global Financial Private Client LLC increased its holdings in shares of Intuitive Surgical by 253.3% in the first quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider's stock valued at $26,000 after purchasing an additional 38 shares during the period. Elite Financial Inc. purchased a new stake in shares of Intuitive Surgical in the first quarter worth about $26,000. Finally, LFA Lugano Financial Advisors SA purchased a new stake in shares of Intuitive Surgical in the first quarter worth about $30,000. 83.64% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Mark Brosius sold 216 shares of the firm's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $563.11, for a total transaction of $121,631.76. Following the completion of the transaction, the senior vice president owned 907 shares of the company's stock, valued at approximately $510,740.77. This trade represents a 19.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gary S. Guthart sold 2,800 shares of the firm's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $495.24, for a total transaction of $1,386,672.00. Following the transaction, the insider directly owned 18,520 shares of the company's stock, valued at $9,171,844.80. The trade was a 13.13% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,839 shares of company stock valued at $7,896,972. 0.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on ISRG. Erste Group Bank reiterated a "hold" rating on shares of Intuitive Surgical in a research report on Wednesday, July 23rd. Wall Street Zen raised Intuitive Surgical from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. BTIG Research upped their price objective on Intuitive Surgical from $566.00 to $571.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Wells Fargo & Company upped their price objective on Intuitive Surgical from $559.00 to $599.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Finally, Citigroup reissued a "buy" rating and issued a $650.00 target price (up from $590.00) on shares of Intuitive Surgical in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Intuitive Surgical presently has an average rating of "Moderate Buy" and a consensus target price of $595.95.

Intuitive Surgical Stock Up 0.7%

Shares of ISRG stock traded up $3.18 on Friday, reaching $480.26. The stock had a trading volume of 1,436,064 shares, compared to its average volume of 2,169,233. The firm's 50-day moving average is $508.75 and its two-hundred day moving average is $524.77. The firm has a market capitalization of $172.16 billion, a price-to-earnings ratio of 66.98, a P/E/G ratio of 5.03 and a beta of 1.59. Intuitive Surgical, Inc. has a 12 month low of $425.00 and a 12 month high of $616.00.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 EPS for the quarter, beating analysts' consensus estimates of $1.93 by $0.26. Intuitive Surgical had a net margin of 28.51% and a return on equity of 14.56%. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the business earned $1.78 EPS. Intuitive Surgical's quarterly revenue was up 21.4% on a year-over-year basis. On average, sell-side analysts forecast that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

Intuitive Surgical Company 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.