USS Investment Management Ltd Increases Stock Position in Intuitive Surgical, Inc. $ISRG

Key Points

• USS Investment Management Ltd more than doubled its stake in Intuitive Surgical in the first quarter, adding 61,465 shares to bring its total to 122,666 shares worth about $56.6 million.
• Intuitive Surgical reported strong quarterly results, with earnings per share of $2.50 and revenue of $2.77 billion, both ahead of analyst expectations. Revenue rose 23% from a year earlier.
• The stock has pulled back recently, opening at $397.68 and sitting near its 52-week low, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average target price of $573.42.

USS Investment Management Ltd lifted its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 100.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 122,666 shares of the medical equipment provider's stock after buying an additional 61,465 shares during the period. USS Investment Management Ltd's holdings in Intuitive Surgical were worth $56,575,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ISRG. State Street Corp boosted 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 worth $8,892,753,000 after purchasing an additional 162,264 shares during the period. Capital World Investors raised its position in Intuitive Surgical by 1.7% in the fourth 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 purchased a new position in Intuitive Surgical in the fourth quarter valued at about $2,856,987,000. Invesco Ltd. lifted its stake in shares of Intuitive Surgical by 17.4% during the fourth quarter. Invesco Ltd. now owns 4,128,735 shares of the medical equipment provider's stock worth $2,338,350,000 after purchasing an additional 611,268 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Intuitive Surgical by 9.4% during the fourth quarter. Wellington Management Group LLP now owns 3,445,880 shares of the medical equipment provider's stock worth $1,951,609,000 after purchasing an additional 294,651 shares in the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Intuitive Surgical

In related news, EVP Gary Loeb sold 400 shares of Intuitive Surgical stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total value of $169,656.00. Following the completion of the transaction, the executive vice president directly owned 5,720 shares in the company, valued at approximately $2,426,080.80. This trade represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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, 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 directly owned 120 shares of the company's stock, valued at approximately $55,620. This represents a 49.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 7,169 shares of company stock valued at $3,059,135. Insiders own 0.60% of the company's stock.

Intuitive Surgical Stock Down 2.0%

ISRG stock opened at $397.68 on Wednesday. The stock's 50 day moving average is $430.20 and its two-hundred day moving average is $481.84. Intuitive Surgical, Inc. has a 52-week low of $396.68 and a 52-week high of $603.88. The company has a market capitalization of $140.84 billion, a PE ratio of 48.20, a P/E/G ratio of 3.30 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released 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 business had revenue of $2.77 billion during 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 business's quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.81 earnings per share. As a group, sell-side analysts anticipate that Intuitive Surgical, Inc. will post 8.57 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Truist Financial reduced their price target on Intuitive Surgical from $650.00 to $580.00 and set a "buy" rating on the stock in a research report on Wednesday, April 15th. Bank of America lowered their price objective on shares of Intuitive Surgical from $520.00 to $515.00 in a research report on Friday, June 12th. BTIG Research reiterated a "buy" rating and set a $574.00 price objective on shares of Intuitive Surgical in a research note on Wednesday, April 22nd. Zacks Research downgraded shares of Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 30th. Finally, Mizuho set a $525.00 price target on shares of Intuitive Surgical and gave the company a "neutral" rating in a report on Monday, April 13th. Nineteen investment 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's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $573.42.

About Intuitive Surgical

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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