Verde Servicos Internacionais S.A. Sells 17,258 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Verde Servicos Internacionais S.A. cut its Intuitive Surgical stake by 51.2% in the fourth quarter, selling 17,258 shares and leaving it with 16,446 shares valued at about $9.3 million.
• Intuitive Surgical reported strong quarterly results, with earnings of $2.50 per share beating estimates and revenue of $2.77 billion, up 23% from a year earlier.
• Analysts remain generally bullish, with 19 Buy ratings and an average target price of $579.33, though several firms recently trimmed their price targets.

Verde Servicos Internacionais S.A. lowered its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 51.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,446 shares of the medical equipment provider's stock after selling 17,258 shares during the quarter. Intuitive Surgical makes up 3.0% of Verde Servicos Internacionais S.A.'s investment portfolio, making the stock its 16th largest position. Verde Servicos Internacionais S.A.'s holdings in Intuitive Surgical were worth $9,314,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Intuitive Surgical by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 33,599,661 shares of the medical equipment provider's stock worth $15,026,776,000 after purchasing an additional 263,828 shares during the period. Capital World Investors boosted its stake in Intuitive Surgical by 1.5% in the 3rd quarter. Capital World Investors now owns 7,728,492 shares of the medical equipment provider's stock worth $3,456,223,000 after purchasing an additional 116,034 shares during the period. Fisher Asset Management LLC boosted its stake in Intuitive Surgical by 1.1% in the 3rd quarter. Fisher Asset Management LLC now owns 3,889,439 shares of the medical equipment provider's stock worth $1,739,475,000 after purchasing an additional 40,702 shares during the period. Amundi boosted its stake in Intuitive Surgical by 29.7% in the 3rd quarter. Amundi now owns 3,227,472 shares of the medical equipment provider's stock worth $1,451,362,000 after purchasing an additional 739,444 shares during the period. Finally, Jennison Associates LLC boosted its stake in Intuitive Surgical by 11.1% in the 4th quarter. Jennison Associates LLC now owns 3,209,137 shares of the medical equipment provider's stock worth $1,817,527,000 after purchasing an additional 321,759 shares during the period. Institutional investors own 83.64% of the company's stock.

Analyst Ratings Changes

ISRG has been the subject of several analyst reports. BTIG Research restated a "buy" rating and issued a $574.00 target price on shares of Intuitive Surgical in a research note on Wednesday, April 22nd. Piper Sandler lowered their price target on Intuitive Surgical from $620.00 to $580.00 and set an "overweight" rating on the stock in a report on Wednesday, April 22nd. Mizuho set a $525.00 price target on Intuitive Surgical and gave the company a "neutral" rating in a report on Monday, April 13th. JPMorgan Chase & Co. lowered their price target on Intuitive Surgical from $625.00 to $550.00 and set an "overweight" rating on the stock in a report on Wednesday, April 22nd. Finally, Evercore lowered their price target on Intuitive Surgical from $550.00 to $480.00 and set a "neutral" rating on the stock in a report on Monday, April 6th. Nineteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $579.33.

Intuitive Surgical Stock Up 1.7%

NASDAQ:ISRG opened at $449.03 on Thursday. The business's 50-day moving average price is $460.63 and its two-hundred day moving average price is $511.79. Intuitive Surgical, Inc. has a twelve month low of $417.74 and a twelve month high of $603.88. The stock has a market cap of $159.03 billion, a P/E ratio of 54.43, a PEG ratio of 3.53 and a beta of 1.51.

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, beating the consensus estimate of $2.08 by $0.42. The firm had revenue of $2.77 billion for the quarter, compared to analysts' expectations of $2.62 billion. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The company's revenue was up 23.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.81 EPS. On average, equities research analysts expect that Intuitive Surgical, Inc. will post 8.57 EPS for the current fiscal year.

Insider Activity at Intuitive Surgical

In related news, SVP Patricia L. Wadors sold 220 shares of the firm's stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $499.71, for a total transaction of $109,936.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Amy L. Ladd sold 500 shares of the firm's 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 transaction, the director directly owned 239 shares in the company, valued at approximately $113,156.94. This represents a 67.66% 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 5,683 shares of company stock worth $2,775,891 in the last quarter. 0.60% of the stock is owned by company insiders.

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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