Warm Springs Advisors Inc. Reduces Position in Intuitive Surgical, Inc. $ISRG

Key Points

• Warm Springs Advisors trimmed its stake in Intuitive Surgical by 70.7% in Q4, selling 5,061 shares and leaving 2,099 shares valued at about $1.19 million, representing roughly 0.9% of the fund and its 28th-largest holding.
• Institutional ownership is high at 83.64%, with large increases from firms such as Assenagon, Amundi, Sands Capital and Victory Capital, which added hundreds of thousands to millions of shares in recent quarters.
• Analysts hold a consensus rating of "Moderate Buy" with an average price target of $598.36, though recent reports have diverged—some firms raised targets (HSBC, TD Cowen) while others cut theirs (Evercore, Robert W. Baird).

Warm Springs Advisors Inc. trimmed its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 70.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,099 shares of the medical equipment provider's stock after selling 5,061 shares during the period. Intuitive Surgical accounts for about 0.9% of Warm Springs Advisors Inc.'s holdings, making the stock its 28th biggest holding. Warm Springs Advisors Inc.'s holdings in Intuitive Surgical were worth $1,189,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Rakuten Investment Management Inc. purchased a new position in Intuitive Surgical in the 3rd quarter worth approximately $388,436,000. Assenagon Asset Management S.A. grew its holdings in shares of Intuitive Surgical by 106.6% in the fourth 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 during the period. Amundi increased its position in Intuitive Surgical by 29.7% during the third 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 last quarter. Sands Capital Management LLC raised its stake in Intuitive Surgical by 77.0% during the third quarter. Sands Capital Management LLC now owns 1,341,109 shares of the medical equipment provider's stock worth $599,784,000 after purchasing an additional 583,539 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in Intuitive Surgical by 41.3% in the 3rd quarter. Victory Capital Management Inc. now owns 1,941,310 shares of the medical equipment provider's stock valued at $868,212,000 after purchasing an additional 567,483 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ISRG has been the subject of a number of recent analyst reports. HSBC raised their price target on shares of Intuitive Surgical from $644.00 to $653.00 and gave the stock a "buy" rating in a report on Monday, January 26th. TD Cowen upgraded Intuitive Surgical to a "strong-buy" rating in a research report on Tuesday, January 27th. Raymond James Financial increased their price target on Intuitive Surgical from $603.00 to $615.00 and gave the stock an "outperform" rating in a report on Friday, January 23rd. Robert W. Baird cut their price objective on Intuitive Surgical from $645.00 to $575.00 and set an "outperform" rating for the company in a research report on Wednesday, April 15th. Finally, Evercore reduced their price objective on shares of Intuitive Surgical from $550.00 to $480.00 and set a "neutral" rating on the stock in a report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $598.36.

Insider Activity at Intuitive Surgical

In other news, VP Fredrik Widman sold 133 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $494.96, for a total transaction of $65,829.68. Following the sale, the vice president owned 660 shares of the company's stock, valued at approximately $326,673.60. This represents a 16.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Myriam Curet sold 421 shares of the firm's stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $494.96, for a total transaction of $208,378.16. Following the completion of the transaction, the executive vice president directly owned 409 shares of the company's stock, valued at approximately $202,438.64. The trade was a 50.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 32,943 shares of company stock worth $17,279,568 over the last ninety days. Company insiders own 0.60% of the company's stock.

Intuitive Surgical Stock Down 0.8%

Shares of NASDAQ ISRG opened at $465.60 on Tuesday. The business's 50 day moving average is $478.67 and its two-hundred day moving average is $515.64. Intuitive Surgical, Inc. has a 52-week low of $427.84 and a 52-week high of $603.88. The firm has a market cap of $165.35 billion, a price-to-earnings ratio of 59.01, a PEG ratio of 3.66 and a beta of 1.68.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its quarterly earnings results on Thursday, January 22nd. The medical equipment provider reported $2.53 EPS for the quarter, topping the consensus estimate of $2.27 by $0.26. The business had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.72 billion. Intuitive Surgical had a return on equity of 15.06% and a net margin of 28.38%.The company's quarterly revenue was up 18.8% on a year-over-year basis. During the same period last year, the business posted $2.21 earnings per share. Analysts anticipate that Intuitive Surgical, Inc. will post 8.16 EPS for the current fiscal year.

Intuitive Surgical Company 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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