State of Wisconsin Investment Board Has $109.47 Million Holdings in Intuitive Surgical, Inc. $ISRG

Key Points

• State of Wisconsin Investment Board trimmed its Intuitive Surgical stake by 2.5% in the fourth quarter, but still held 193,289 shares valued at about $109.47 million.
• Intuitive Surgical reported better-than-expected quarterly results, with earnings of $2.50 per share and revenue of $2.77 billion, both above analyst estimates; revenue rose 23% year over year.
• Despite some recent insider selling and mixed analyst moves, Wall Street remains generally constructive on the stock, with a Moderate Buy consensus and an average price target of $573.42.

State of Wisconsin Investment Board cut its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 2.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 193,289 shares of the medical equipment provider's stock after selling 4,946 shares during the period. State of Wisconsin Investment Board owned 0.05% of Intuitive Surgical worth $109,471,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. State Street Corp lifted its position in Intuitive Surgical by 1.0% during the 4th quarter. State Street Corp now owns 15,701,591 shares of the medical equipment provider's stock valued at $8,892,753,000 after purchasing an additional 162,264 shares during the period. Capital World Investors lifted its position in Intuitive Surgical by 1.7% during the 4th quarter. Capital World Investors now owns 7,856,018 shares of the medical equipment provider's stock valued at $4,449,491,000 after purchasing an additional 127,526 shares during the period. Norges Bank acquired a new position in Intuitive Surgical during the 4th quarter valued at about $2,856,987,000. Fisher Asset Management LLC lifted its position in Intuitive Surgical by 1.1% during the 3rd quarter. Fisher Asset Management LLC now owns 3,889,439 shares of the medical equipment provider's stock valued at $1,739,475,000 after purchasing an additional 40,702 shares during the period. Finally, Amundi lifted its position in Intuitive Surgical by 29.7% during the 3rd quarter. Amundi now owns 3,227,472 shares of the medical equipment provider's stock valued at $1,451,362,000 after purchasing an additional 739,444 shares during the period. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Intuitive Surgical Price Performance

Shares of NASDAQ:ISRG opened at $417.07 on Wednesday. The company has a market capitalization of $147.71 billion, a price-to-earnings ratio of 50.55, a P/E/G ratio of 3.39 and a beta of 1.46. The firm's 50 day simple moving average is $441.47 and its 200 day simple moving average is $493.43. Intuitive Surgical, Inc. has a fifty-two week low of $396.68 and a fifty-two week high of $603.88.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, beating analysts' consensus estimates of $2.08 by $0.42. The business had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.62 billion. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. Intuitive Surgical's revenue for the quarter was up 23.0% on a year-over-year basis. During the same period last year, the company posted $1.81 EPS. Equities research analysts expect that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ISRG. Zacks Research downgraded shares of Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 30th. Raymond James Financial cut their price target on shares of Intuitive Surgical from $615.00 to $577.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 22nd. The Goldman Sachs Group set a $558.00 price target on shares of Intuitive Surgical in a research report on Wednesday, May 27th. JPMorgan Chase & Co. cut their price target on shares of Intuitive Surgical from $625.00 to $550.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 22nd. Finally, Leerink Partners cut their price target on shares of Intuitive Surgical from $622.00 to $573.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 22nd. Nineteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Intuitive Surgical currently has an average rating of "Moderate Buy" and a consensus price target of $573.42.

Insider Activity at Intuitive Surgical

In other Intuitive Surgical news, Director Amy L. Ladd sold 119 shares of the firm's stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $463.50, for a total transaction of $55,156.50. Following the sale, the director directly owned 120 shares in the company, valued at approximately $55,620. This trade represents a 49.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Iman Jeddi sold 5,625 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $420.55, for a total transaction of $2,365,593.75. Following the sale, the senior vice president owned 6,463 shares in the company, valued at $2,718,014.65. This trade represents a 46.53% decrease in their ownership of the stock. 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. Insiders have sold 7,169 shares of company stock worth $3,059,135 in the last ninety days. Company insiders own 0.60% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.