Penobscot Investment Management Company Inc. lowered its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG – Free Report) by 12.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,830 shares of the medical equipment provider’s stock after selling 1,276 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Intuitive Surgical were worth $3,591,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the stock. Bank of America Corp DE boosted its stake in Intuitive Surgical by 3.3% in the first quarter. Bank of America Corp DE now owns 3,616,973 shares of the medical equipment provider’s stock valued at $1,667,388,000 after acquiring an additional 116,292 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Intuitive Surgical during the 2nd quarter valued at approximately $1,335,753,000. Amundi increased its stake in shares of Intuitive Surgical by 8.6% during the 1st quarter. Amundi now owns 2,428,356 shares of the medical equipment provider’s stock worth $1,119,448,000 after purchasing an additional 193,096 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Intuitive Surgical by 95.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,105,544 shares of the medical equipment provider’s stock worth $970,635,000 after purchasing an additional 1,027,475 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Intuitive Surgical by 3.7% during the 1st quarter. Janus Henderson Group PLC now owns 1,643,060 shares of the medical equipment provider’s stock worth $757,489,000 after purchasing an additional 58,587 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.
Intuitive Surgical News Roundup
Here are the key news stories impacting Intuitive Surgical this week:
- Positive Sentiment: Wall Street remains broadly constructive: the average brokerage recommendation is equivalent to a Buy, while the reported consensus price target of $493.54 is above recent trading levels. However, the article cautions that sell-side ratings can be overly optimistic. Wall Street bullish views on ISRG
- Positive Sentiment: Analysts have been raising earnings estimates, and Zacks highlighted ISRG’s growth profile. The company’s latest quarterly results provide fundamental support, with revenue up 21.7% year over year to $3.05 billion and earnings of $3.00 per share versus a $2.65 consensus estimate. Higher earnings estimates
- Neutral Sentiment: ISRG is attracting substantial investor attention, which may increase trading activity but does not necessarily signal a change in business fundamentals. Reported short interest of zero shares and a zero-day days-to-cover ratio also appear inconsistent with the description of a significant increase, limiting the data’s usefulness. ISRG trending-stock analysis
- Negative Sentiment: Several insiders sold shares under pre-arranged Rule 10b5-1 plans. Director Gary Guthart sold approximately $9.1 million, while a vice president, senior vice president and another director also reduced their holdings. Although planned sales are not necessarily bearish, the cluster may weigh on sentiment. ISRG insider selling
- Negative Sentiment: Valuation remains a key risk. ISRG trades at roughly 54 times earnings and a PEG ratio above 3, leaving limited room for execution disappointments. The stock’s decline below its 200-day moving average may also indicate near-term technical weakness.
Analyst Ratings Changes
ISRG has been the topic of several research analyst reports. Stifel Nicolaus dropped their price objective on Intuitive Surgical from $670.00 to $550.00 and set a “buy” rating on the stock in a research note on Friday, July 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Intuitive Surgical in a research report on Friday, August 14th. Evercore set a $430.00 target price on Intuitive Surgical in a research report on Monday, July 6th. Raymond James Financial restated an “outperform” rating and issued a $480.00 target price on shares of Intuitive Surgical in a research note on Wednesday, October 21st. Finally, HSBC cut Intuitive Surgical from a “buy” rating to a “hold” rating and set a $391.00 price target on the stock. in a research report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Intuitive Surgical has an average rating of “Moderate Buy” and a consensus target price of $493.54.
Check Out Our Latest Analysis on ISRG
Intuitive Surgical Trading Down 1.3%
ISRG opened at $445.88 on Wednesday. The firm has a 50-day moving average price of $398.31 and a 200-day moving average price of $436.15. Intuitive Surgical, Inc. has a twelve month low of $328.57 and a twelve month high of $603.88.
Intuitive Surgical (NASDAQ:ISRG – Get Free Report) last posted its quarterly earnings results on Tuesday, October 20th. The medical equipment provider reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.65 by $0.35. The business had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $2.91 billion. The business’s revenue for the quarter was up 21.7% on a year-over-year basis. During the same period last year, the firm earned $2.40 EPS. Equities research analysts anticipate that Intuitive Surgical, Inc. will post 9.37 EPS for the current fiscal year.
Insiders Place Their Bets
In other Intuitive Surgical news, Director Amy L. Ladd sold 400 shares of the 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 director owned 251 shares in the company, valued at $95,129. This represents a 61.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gary S. Guthart sold 20,095 shares of the firm’s stock in a transaction on Friday, October 23rd. The stock was sold at an average price of $451.61, for a total value of $9,075,102.95. Following the completion of the transaction, the director directly owned 1,204,530 shares of the company’s stock, valued at $543,977,793.30. The trade was a 1.64% 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 38,684 shares of company stock worth $16,770,301 in the last three months. Insiders own 0.60% of the company’s stock.
Intuitive Surgical Company Profile
Intuitive Surgical, Inc develops and manufactures robotic-assisted systems and related technologies for minimally invasive surgery. Its products are designed to help surgeons perform procedures through small incisions while providing enhanced visualization, precision and control. The company’s primary platform is the da Vinci Surgical System, which is used across a range of specialties, including urology, gynecology, general surgery, cardiothoracic surgery and other procedures.
The company also offers the Ion endoluminal system, which is designed to support minimally invasive lung biopsy procedures.
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