Strs Ohio Trims Stake in Intuitive Surgical, Inc. $ISRG

Key Points

• Strs Ohio reduced its stake in Intuitive Surgical by 3.3% in the first quarter, selling 4,661 shares and leaving it with 136,328 shares valued at about $62.8 million.
• Institutional ownership remains high, with hedge funds and other institutional investors holding 83.64% of the company’s stock, while some smaller investors also added or initiated positions.
• Analysts remain broadly positive on ISRG, with 19 Buy ratings and a consensus price target of $573.42, even as some recent reports highlight concerns about regulatory scrutiny and competition in China.

Strs Ohio lessened its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 3.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 136,328 shares of the medical equipment provider's stock after selling 4,661 shares during the quarter. Strs Ohio's holdings in Intuitive Surgical were worth $62,846,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ISRG. Newbridge Financial Services Group Inc. increased its position in Intuitive Surgical by 300.0% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider's stock worth $25,000 after purchasing an additional 33 shares in the last quarter. Holos Integrated Wealth LLC purchased a new position in Intuitive Surgical in the 4th quarter valued at about $25,000. Olistico Wealth LLC purchased a new position in Intuitive Surgical in the 4th quarter valued at about $28,000. Laurel Wealth Advisors LLC acquired a new stake in shares of Intuitive Surgical during the 4th quarter worth about $31,000. Finally, Turning Point Benefit Group Inc. boosted its stake in shares of Intuitive Surgical by 833.3% during the 4th quarter. Turning Point Benefit Group Inc. now owns 56 shares of the medical equipment provider's stock worth $32,000 after purchasing an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company's stock.

Key Intuitive Surgical News

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

• Positive Sentiment: Analysts say Intuitive Surgical has a strong earnings-surprise track record and could beat estimates again in its upcoming report. Why Intuitive Surgical (ISRG) Could Beat Earnings Estimates Again
• Positive Sentiment: Investors appear to be buying ahead of the company’s July 16 earnings call, likely betting on continued procedure growth, da Vinci 5 adoption, and another solid update. Intuitive Surgical Gains as Investors Appear to Position for Mid-July Earnings
• Neutral Sentiment: Commentary from an investor letter and market recaps referenced Intuitive Surgical’s recent trading weakness and below-consensus forecast concerns, but these pieces did not add a fresh operational catalyst. Intuitive Surgical (ISRG) Fell on Below-Consensus Forecast
• Negative Sentiment: Some recent coverage notes ongoing pressure from regulatory scrutiny over instrument reuse and competitive concerns in China, which may be weighing on sentiment despite the company’s strong fundamentals. Intuitive Surgical (ISRG) Fell on Below-Consensus Forecast

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ISRG shares. Piper Sandler reissued an "overweight" rating and issued a $580.00 price objective on shares of Intuitive Surgical in a research report on Tuesday, June 2nd. Evercore decreased their target price on shares of Intuitive Surgical from $550.00 to $480.00 and set a "neutral" rating on the stock in a research report on Monday, April 6th. Bank of America cut their price target on Intuitive Surgical from $520.00 to $515.00 in a report on Friday, June 12th. JPMorgan Chase & Co. reduced their price target on Intuitive Surgical from $625.00 to $550.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 22nd. Finally, Robert W. Baird lifted their price objective on Intuitive Surgical from $575.00 to $610.00 and gave the company an "outperform" rating in a research report on Wednesday, April 22nd. Nineteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Intuitive Surgical has an average rating of "Moderate Buy" and a consensus price target of $573.42.

Insider Buying and Selling

In other Intuitive Surgical news, EVP Gary Loeb sold 400 shares of the company's stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total transaction of $169,656.00. Following the completion of the sale, the executive vice president directly owned 5,720 shares in the company, valued at $2,426,080.80. This represents a 6.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 500 shares of the firm's stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $473.46, for a total value of $236,730.00. Following the completion of the transaction, the director owned 239 shares in the company, valued at approximately $113,156.94. This trade represents a 67.66% 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. In the last ninety days, insiders have sold 7,169 shares of company stock valued at $3,059,135. 0.60% of the stock is currently owned by company insiders.

Intuitive Surgical Stock Performance

Intuitive Surgical stock opened at $426.01 on Friday. Intuitive Surgical, Inc. has a 1 year low of $396.68 and a 1 year high of $603.88. The firm has a 50 day moving average price of $428.43 and a 200 day moving average price of $480.00. The company has a market cap of $150.88 billion, a price-to-earnings ratio of 51.64, a PEG ratio of 3.27 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, topping analysts' consensus estimates of $2.08 by $0.42. The company 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 was up 23.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.81 earnings per share. Sell-side analysts predict that Intuitive Surgical, Inc. will post 8.57 EPS for the current year.

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.

Want to see what other hedge funds are holding ISRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report).

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.