CIBC Asset Management Inc boosted its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG – Free Report) by 25.0% during the 4th quarter, HoldingsChannel reports. The firm owned 199,386 shares of the medical equipment provider’s stock after purchasing an additional 39,820 shares during the period. CIBC Asset Management Inc’s holdings in Intuitive Surgical were worth $112,924,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of ISRG. Brighton Jones LLC grew its position in Intuitive Surgical by 24.9% during the 4th quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider’s stock worth $1,916,000 after purchasing an additional 731 shares during the last quarter. Sivia Capital Partners LLC grew its stake in shares of Intuitive Surgical by 3.8% in the 2nd quarter. Sivia Capital Partners LLC now owns 928 shares of the medical equipment provider’s stock valued at $504,000 after purchasing an additional 34 shares during the last quarter. Schnieders Capital Management LLC. grew its stake in shares of Intuitive Surgical by 38.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 973 shares of the medical equipment provider’s stock valued at $529,000 after purchasing an additional 268 shares during the last quarter. Osterweis Capital Management Inc. purchased a new position in shares of Intuitive Surgical in the 2nd quarter valued at approximately $200,000. Finally, Main Street Financial Solutions LLC grew its stake in shares of Intuitive Surgical by 92.4% in the 2nd quarter. Main Street Financial Solutions LLC now owns 2,929 shares of the medical equipment provider’s stock valued at $1,592,000 after purchasing an additional 1,407 shares during the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research analysts have weighed in on ISRG shares. The Goldman Sachs Group set a $558.00 target price on Intuitive Surgical in a research note on Wednesday, May 27th. Barclays set a $651.00 target price on Intuitive Surgical and gave the company an “overweight” rating in a research note on Thursday, April 23rd. HSBC lowered their target price on shares of Intuitive Surgical from $653.00 to $604.00 and set a “buy” rating on the stock in a report on Wednesday, April 22nd. Citigroup raised shares of Intuitive Surgical from a “neutral” rating to a “buy” rating and set a $590.00 target price on the stock in a report on Wednesday, March 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Intuitive Surgical in a report on Tuesday, May 19th. Nineteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $573.63.
Insider Activity
In related news, SVP Iman Jeddi sold 5,625 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $420.55, for a total transaction of $2,365,593.75. Following the sale, the senior vice president owned 6,463 shares of the company’s stock, valued at approximately $2,718,014.65. The trade was a 46.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark Brosius sold 645 shares of the business’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $485.01, for a total transaction of $312,831.45. Following the sale, the senior vice president directly owned 1,613 shares in the company, valued at approximately $782,321.13. This represents a 28.57% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 8,096 shares of company stock valued at $3,545,294 in the last quarter. Insiders own 0.60% of the company’s stock.
Intuitive Surgical News Summary
Here are the key news stories impacting Intuitive Surgical this week:
- Negative Sentiment: Deutsche Bank cut its price target on Intuitive Surgical (ISRG) to $366 from $440 and kept a sell rating, reinforcing concerns that the stock may have further downside from current levels. MarketScreener article
- Negative Sentiment: Company SVP Iman Jeddi sold 5,625 shares in a pre-arranged 10b5-1 plan, a transaction that can still weigh on sentiment because it reduces insider ownership and may signal caution to some investors.
- Neutral Sentiment: Several articles highlighted that ISRG is a highly watched and frequently traded name, but these pieces were mostly informational and did not present a new catalyst. Zacks article
- Neutral Sentiment: Analysts and commentary also pointed to Intuitive Surgical’s AI-driven digital roadmap and connected da Vinci ecosystem as a potential long-term growth driver, but that story appears to be offset today by valuation and rating concerns. Yahoo Finance article
Intuitive Surgical Price Performance
Intuitive Surgical stock opened at $402.30 on Wednesday. Intuitive Surgical, Inc. has a 1-year low of $396.68 and a 1-year high of $603.88. The company has a market cap of $142.48 billion, a PE ratio of 48.76, a price-to-earnings-growth ratio of 3.29 and a beta of 1.46. The stock’s 50 day moving average price is $452.19 and its 200 day moving average price is $504.81.
Intuitive Surgical (NASDAQ:ISRG – Get Free Report) last posted its quarterly earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.42. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same period in the previous year, the business earned $1.81 earnings per share. The company’s revenue for the quarter was up 23.0% compared to the same quarter last year. On average, equities research analysts anticipate that Intuitive Surgical, Inc. will post 8.57 EPS 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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