Swiss Life Asset Management Ltd Increases Stock Position in Intuitive Surgical, Inc. $ISRG

Key Points

• Swiss Life Asset Management increased its stake in Intuitive Surgical by 7.8% in the fourth quarter, owning 72,768 shares valued at about $41.2 million.
• Intuitive Surgical reported strong quarterly results, with EPS of $2.50 beating expectations and revenue of $2.77 billion, up 23% year over year.
• Analysts remain broadly positive but have trimmed some price targets; the stock currently carries a Moderate Buy consensus with an average target price of $581.91.

Swiss Life Asset Management Ltd boosted its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 7.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,768 shares of the medical equipment provider's stock after purchasing an additional 5,285 shares during the quarter. Swiss Life Asset Management Ltd's holdings in Intuitive Surgical were worth $41,213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of ISRG. Brighton Jones LLC raised its stake in Intuitive Surgical by 24.9% in the fourth quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider's stock valued at $1,916,000 after purchasing an additional 731 shares in the last quarter. Sivia Capital Partners LLC raised its stake in Intuitive Surgical by 3.8% in the second quarter. Sivia Capital Partners LLC now owns 928 shares of the medical equipment provider's stock valued at $504,000 after purchasing an additional 34 shares in the last quarter. Schnieders Capital Management LLC. raised its stake in Intuitive Surgical by 38.0% in the second quarter. Schnieders Capital Management LLC. now owns 973 shares of the medical equipment provider's stock valued at $529,000 after purchasing an additional 268 shares in the last quarter. Osterweis Capital Management Inc. purchased a new stake in Intuitive Surgical in the second quarter valued at approximately $200,000. Finally, Main Street Financial Solutions LLC raised its stake in Intuitive Surgical by 92.4% in the second quarter. Main Street Financial Solutions LLC now owns 2,929 shares of the medical equipment provider's stock valued at $1,592,000 after purchasing an additional 1,407 shares in the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

Intuitive Surgical Price Performance

Shares of NASDAQ ISRG opened at $450.06 on Monday. Intuitive Surgical, Inc. has a one year low of $427.84 and a one year high of $603.88. The firm's 50 day simple moving average is $472.19 and its two-hundred day simple moving average is $517.39. The stock has a market capitalization of $159.39 billion, a P/E ratio of 54.55, a PEG ratio of 3.59 and a beta of 1.51.

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

Insider Transactions at Intuitive Surgical

In other news, Director Amy L. Ladd sold 500 shares of the firm's stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $473.46, for a total value of $236,730.00. Following 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Patricia L. Wadors sold 220 shares of the firm's stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $499.71, for a total transaction of $109,936.20. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 5,906 shares of company stock valued at $2,907,726. 0.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ISRG. JPMorgan Chase & Co. lowered their target price on shares of Intuitive Surgical from $625.00 to $550.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 22nd. Citigroup upgraded shares of Intuitive Surgical from a "neutral" rating to a "buy" rating and set a $590.00 price target on the stock in a research report on Wednesday, March 11th. Raymond James Financial reduced 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. Leerink Partners reduced 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. Finally, Jefferies Financial Group reduced their price target on shares of Intuitive Surgical from $560.00 to $515.00 and set a "hold" 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 assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price 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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