Temasek Holdings Private Ltd Makes New Investment in Intuitive Surgical, Inc. $ISRG

Key Points

• Temasek Holdings opened a new position in Intuitive Surgical during the fourth quarter, buying 44,000 shares valued at about $24.9 million.
• Institutional interest in ISRG remains strong, with several large investors adding stakes and institutions now owning 83.64% of the company.
• Intuitive Surgical recently beat quarterly expectations, reporting $2.50 EPS and $2.77 billion in revenue, while analysts currently rate the stock a Moderate Buy with a consensus price target of $571.28.

Temasek Holdings Private Ltd purchased a new position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 44,000 shares of the medical equipment provider's stock, valued at approximately $24,920,000.

A number of other large investors have also added to or reduced their stakes in ISRG. Norges Bank bought a new stake in Intuitive Surgical in the 4th quarter worth $2,856,987,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Intuitive Surgical by 1,043.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,342,121 shares of the medical equipment provider's stock valued at $760,124,000 after purchasing an additional 1,224,734 shares in the last quarter. Polen Capital Management LLC bought a new stake in shares of Intuitive Surgical during the 4th quarter valued at about $477,225,000. Assenagon Asset Management S.A. boosted its stake in shares of Intuitive Surgical by 106.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,533,771 shares of the medical equipment provider's stock valued at $868,667,000 after purchasing an additional 791,516 shares in the last quarter. Finally, Amundi boosted its stake in shares of 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 in the last quarter. Institutional investors own 83.64% of the company's stock.

Insiders Place Their Bets

In other Intuitive Surgical news, Director Amy L. Ladd sold 500 shares of Intuitive Surgical stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $473.46, for a total value of $236,730.00. Following the completion of the transaction, the director directly owned 239 shares of the company's stock, valued at approximately $113,156.94. The trade was a 67.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 Intuitive Surgical stock in a transaction dated 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 completion of the transaction, the senior vice president directly owned 6,463 shares of the company's stock, 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. Over the last ninety days, insiders sold 7,169 shares of company stock valued at $3,059,135. Insiders own 0.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ISRG. HSBC cut their target price on shares of Intuitive Surgical from $653.00 to $604.00 and set a "buy" rating on the stock in a research note on Wednesday, April 22nd. Raymond James Financial cut their target price on shares of Intuitive Surgical from $615.00 to $577.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 22nd. The Goldman Sachs Group set a $558.00 target price on shares of Intuitive Surgical in a research note on Wednesday, May 27th. BTIG Research reissued a "buy" rating and set a $574.00 price objective on shares of Intuitive Surgical in a research note on Wednesday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Intuitive Surgical from $440.00 to $366.00 and set a "sell" rating on the stock in a research note on Tuesday, June 2nd. Nineteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $571.28.

Intuitive Surgical Price Performance

NASDAQ:ISRG opened at $416.55 on Tuesday. Intuitive Surgical, Inc. has a one year low of $396.68 and a one year high of $603.88. The company's 50-day simple moving average is $442.17 and its 200 day simple moving average is $494.54. The firm has a market capitalization of $147.53 billion, a P/E ratio of 50.49, a PEG ratio of 3.28 and a beta of 1.46.

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

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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