Truist Financial Corp Lowers Stock Position in Intuitive Surgical, Inc. $ISRG

Key Points

• Truist Financial trimmed its stake in Intuitive Surgical by 2.8%, selling 4,762 shares and now holding 164,178 shares valued at about $92.98 million.
• Strong quarterly results: Intuitive reported EPS of $2.50 vs. $2.08 expected and revenue of $2.77 billion (up 23% year-over-year), while analysts maintain a consensus "Moderate Buy" rating with an average price target of $581.91.
• Insider selling has been active recently—insiders sold 5,906 shares worth roughly $2.91 million in the past 90 days, leaving corporate insiders with about 0.60% ownership.

Truist Financial Corp reduced its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 2.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 164,178 shares of the medical equipment provider's stock after selling 4,762 shares during the period. Truist Financial Corp's holdings in Intuitive Surgical were worth $92,984,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Holos Integrated Wealth LLC bought a new position in shares of Intuitive Surgical during the fourth quarter valued at about $25,000. Newbridge Financial Services Group Inc. lifted its position in shares of Intuitive Surgical by 300.0% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider's stock valued at $25,000 after purchasing an additional 33 shares in the last quarter. Greykasell Wealth Strategies Inc. bought a new position in shares of Intuitive Surgical during the third quarter valued at about $27,000. Olistico Wealth LLC bought a new position in shares of Intuitive Surgical during the fourth quarter valued at about $28,000. Finally, Caitlin John LLC bought a new position in shares of Intuitive Surgical during the third quarter valued at about $30,000. 83.64% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, VP Fredrik Widman sold 133 shares of the business's stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $494.96, for a total value of $65,829.68. Following the sale, the vice president directly owned 660 shares in the company, valued at approximately $326,673.60. The trade was a 16.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Amy L. Ladd sold 119 shares of the business's stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $463.50, for a total value of $55,156.50. Following the completion of the sale, the director owned 120 shares in the company, valued at $55,620. This represents a 49.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 5,906 shares of company stock worth $2,907,726 in the last ninety days. 0.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ISRG shares. The Goldman Sachs Group raised their price target on shares of Intuitive Surgical from $609.00 to $621.00 and gave the company a "buy" rating in a research report on Wednesday, April 22nd. UBS Group dropped their price target on shares of Intuitive Surgical from $570.00 to $550.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 17th. Truist Financial cut their price target on shares of Intuitive Surgical from $650.00 to $580.00 and set a "buy" rating on the stock in a report on Wednesday, April 15th. TD Cowen cut their price target on shares of Intuitive Surgical from $660.00 to $585.00 and set a "buy" rating on the stock in a report on Wednesday, April 22nd. Finally, Jefferies Financial Group cut their price target on shares of Intuitive Surgical from $560.00 to $515.00 and set a "hold" rating on the stock in a report on Wednesday, April 22nd. Eighteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $581.91.

Intuitive Surgical Stock Performance

Shares of NASDAQ:ISRG opened at $452.35 on Tuesday. The company's 50-day moving average is $474.86 and its 200 day moving average is $517.11. The company has a market capitalization of $160.20 billion, a P/E ratio of 54.83, a price-to-earnings-growth ratio of 3.66 and a beta of 1.51. Intuitive Surgical, Inc. has a fifty-two week low of $427.84 and a fifty-two week high of $603.88.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued 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%. The firm's quarterly revenue was up 23.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.81 EPS. As a group, research analysts predict that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current 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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