Segall Bryant & Hamill LLC lifted its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG – Free Report) by 494.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 68,274 shares of the medical equipment provider’s stock after purchasing an additional 56,790 shares during the period. Segall Bryant & Hamill LLC’s holdings in Intuitive Surgical were worth $33,650,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in ISRG. Newbridge Financial Services Group Inc. grew its position in 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 buying an additional 33 shares during the period. Laurel Wealth Advisors LLC bought a new position in Intuitive Surgical in the fourth quarter worth approximately $31,000. Turning Point Benefit Group Inc. boosted its stake in shares of Intuitive Surgical by 833.3% during the 4th quarter. Turning Point Benefit Group Inc. now owns 56 shares of the medical equipment provider’s stock worth $32,000 after acquiring an additional 50 shares during the last quarter. Motiv8 Investments LLC purchased a new position in shares of Intuitive Surgical during the 4th quarter worth $34,000. Finally, Oakworth Capital Inc. grew its position in shares of Intuitive Surgical by 281.2% during the 4th quarter. Oakworth Capital Inc. now owns 61 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 45 shares during the period. Hedge funds and other institutional investors own 83.64% of the company’s stock.
Key Stories Impacting Intuitive Surgical
Here are the key news stories impacting Intuitive Surgical this week:
- Positive Sentiment: UBS upgraded ISRG, arguing that the recent selloff was excessive. The firm’s revised price target of $475 implies meaningful upside and may be supporting renewed investor interest. UBS upgrades Intuitive Surgical
- Positive Sentiment: Intuitive Surgical’s expansion beyond urology into general surgery and other specialties could create additional procedure growth and increase long-term demand for da Vinci systems, instruments and related services. Robotic surgery expansion beyond urology
- Positive Sentiment: Analyst sentiment remains broadly favorable, with the brokerage consensus at “Moderate Buy.” The company’s recurring revenue from instruments and accessories, expanding installed base and durable robotic-surgery demand remain key bullish arguments. Brokerage consensus on Intuitive Surgical
- Neutral Sentiment: Zacks highlighted the unusually high level of investor interest in ISRG, but the article did not provide a new earnings or guidance catalyst. Zacks investor attention report
- Neutral Sentiment: An executive’s small stock sales were made under a pre-arranged Rule 10b5-1 plan and reduced his holdings by roughly 2%, making them unlikely to materially alter the investment case. Intuitive Surgical insider sale
- Negative Sentiment: HSBC lowered Intuitive Surgical from Buy to Hold and set a $391 price target. Although that target remains above recent trading levels, the downgrade signals reduced confidence in the stock’s near-term upside. HSBC downgrades Intuitive Surgical
- Negative Sentiment: Despite a quarterly revenue and earnings beat, investors remain concerned about softer U.S. procedure growth, deferred care and the premium valuation. Those worries have contributed to continued pressure in the shares. Intuitive Surgical post-earnings selloff
Intuitive Surgical Price Performance
Intuitive Surgical (NASDAQ:ISRG – Get Free Report) last announced its quarterly earnings data on Thursday, July 16th. The medical equipment provider reported $2.80 EPS for the quarter, beating the consensus estimate of $2.48 by $0.32. Intuitive Surgical had a net margin of 28.45% and a return on equity of 16.91%. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.83 billion. During the same period last year, the firm earned $1.81 EPS. The company’s revenue was up 18.4% on a year-over-year basis. Equities analysts anticipate that Intuitive Surgical, Inc. will post 8.87 earnings per share for the current year.
Insiders Place Their Bets
In other Intuitive Surgical news, EVP Gary Loeb sold 400 shares of the stock in a transaction on 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 sale, the executive vice president owned 5,720 shares in the company, valued at approximately $2,426,080.80. This represents a 6.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Iman Jeddi sold 5,625 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $420.55, for a total value of $2,365,593.75. Following the sale, the senior vice president directly owned 6,463 shares in the company, valued at approximately $2,718,014.65. This represents a 46.53% 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. Insiders sold a total of 6,634 shares of company stock valued at $2,796,795 in the last quarter. 0.60% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Several research firms have recently commented on ISRG. Raymond James Financial restated an “outperform” rating and issued a $483.00 price objective (down from $577.00) on shares of Intuitive Surgical in a research note on Friday, July 17th. Mizuho set a $500.00 target price on Intuitive Surgical and gave the company a “neutral” rating in a research report on Wednesday, July 15th. The Goldman Sachs Group set a $558.00 price target on Intuitive Surgical in a report on Wednesday, May 27th. Bank of America cut their price target on Intuitive Surgical from $520.00 to $515.00 in a report on Friday, June 12th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $487.00 price target (down from $654.00) on shares of Intuitive Surgical in a research report on Friday, July 17th. Twenty equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $509.02.
Check Out Our Latest Stock Analysis on ISRG
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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