Quintet Private Bank Europe S.A. lessened its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG – Free Report) by 88.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,862 shares of the medical equipment provider’s stock after selling 29,959 shares during the quarter. Quintet Private Bank Europe S.A.’s holdings in Intuitive Surgical were worth $1,570,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of ISRG. Bank of New York Mellon Corp purchased a new position in Intuitive Surgical during the 2nd quarter worth approximately $1,335,753,000. J. Stern & Co. LLP boosted its holdings in shares of Intuitive Surgical by 18,504.6% in the 4th quarter. J. Stern & Co. LLP now owns 2,127,248 shares of the medical equipment provider’s stock valued at $1,204,788,000 after acquiring an additional 2,115,814 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Intuitive Surgical by 95.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,105,544 shares of the medical equipment provider’s stock worth $970,635,000 after acquiring an additional 1,027,475 shares during the period. Polen Capital Management LLC purchased a new position in shares of Intuitive Surgical during the fourth quarter worth $477,225,000. Finally, Invesco Ltd. lifted its position in Intuitive Surgical by 17.4% during the fourth quarter. Invesco Ltd. now owns 4,128,735 shares of the medical equipment provider’s stock valued at $2,338,350,000 after purchasing an additional 611,268 shares during the period. 83.64% of the stock is currently owned by hedge funds and other institutional investors.
Intuitive Surgical Stock Up 0.4%
Shares of ISRG stock traded up $1.67 during trading hours on Thursday, hitting $416.19. 839,510 shares of the company’s stock were exchanged, compared to its average volume of 2,414,616. The firm has a 50 day moving average of $383.70 and a two-hundred day moving average of $411.61. Intuitive Surgical, Inc. has a fifty-two week low of $328.57 and a fifty-two week high of $603.88. The firm has a market cap of $147.03 billion, a P/E ratio of 47.69, a P/E/G ratio of 3.05 and a beta of 1.46.
Trending Headlines about Intuitive Surgical
Here are the key news stories impacting Intuitive Surgical this week:
- Positive Sentiment: Barclays initiated coverage with an Overweight rating and later upgraded ISRG to Strong Buy. The firm’s bullish stance provides a positive catalyst and suggests confidence in Intuitive Surgical’s market position despite a softer medical-device environment. Barclays initiates coverage of Intuitive Surgical at Overweight Intuitive Surgical upgraded at Barclays
- Positive Sentiment: Wall Street analysts remain optimistic. Coverage highlights expectations for year-over-year revenue and earnings growth, while Citi has also issued a Buy rating. Such recommendations may encourage buying interest in the shares. Wall Street analysts look optimistic on Intuitive Surgical Intuitive Surgical gets a Buy from Citi
- Positive Sentiment: The da Vinci Single-Port platform is gaining momentum. Rising procedure volumes, utilization, placements, expanding indications and international adoption could create another significant recurring-revenue growth engine for Intuitive Surgical. Can ISRG’s Single-Port Platform Become the Next Billion-Dollar Franchise?
- Neutral Sentiment: Investors are focused on the upcoming October 20 earnings report. Results and management’s outlook will be important in determining whether the recent analyst optimism and expected growth are justified. Barclays’ bullish initiation amid rising rivalry
- Negative Sentiment: Competition and valuation remain risks. Commentary points to growing rivalry, particularly from Johnson & Johnson, while ISRG’s premium valuation could limit upside or increase sensitivity to an earnings miss. Intuitive Surgical and JNJ give Jim Cramer more than valuation to consider
Insider Transactions at Intuitive Surgical
In related news, EVP Mark Brosius sold 77 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $375.57, for a total value of $28,918.89. Following the completion of the transaction, the executive vice president directly owned 881 shares of the company’s stock, valued at approximately $330,877.17. This represents a 8.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of Intuitive Surgical stock in a transaction on Monday, August 10th. The stock was sold at an average price of $379.00, for a total transaction of $151,600.00. Following the sale, the executive vice president directly owned 5,320 shares in the company, valued at approximately $2,016,280. This trade represents a 6.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 12,370 shares of company stock valued at $4,891,989. Insiders own 0.60% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on the company. BTIG Research reaffirmed a “buy” rating and set a $469.00 price target on shares of Intuitive Surgical in a research report on Tuesday, September 8th. Wells Fargo & Company reissued an “overweight” rating and issued a $487.00 price objective (down from $654.00) on shares of Intuitive Surgical in a report on Friday, July 17th. HSBC lowered Intuitive Surgical from a “buy” rating to a “hold” rating and set a $391.00 target price on the stock. in a report on Thursday, July 30th. Leerink Partners decreased their price target on Intuitive Surgical from $573.00 to $454.00 and set an “outperform” rating for the company in a report on Friday, July 17th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Intuitive Surgical from $550.00 to $450.00 and set an “overweight” rating on the stock in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $502.53.
Get Our Latest Analysis on ISRG
Intuitive Surgical Profile
Intuitive Surgical, Inc develops and commercializes robotic-assisted systems and related technologies designed to support minimally invasive medical procedures. The company’s products are intended to help surgeons perform operations through small incisions while providing enhanced visualization, precision, and control.
Its principal product is the da Vinci Surgical System, a platform used across a range of specialties, including general surgery, urology, gynecology, thoracic surgery, and cardiac procedures.
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