Covea Finance Lowers Holdings in Intuitive Surgical, Inc. $ISRG

Covea Finance lowered its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 1.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 84,732 shares of the medical equipment provider’s stock after selling 1,200 shares during the period. Intuitive Surgical comprises approximately 1.3% of Covea Finance’s holdings, making the stock its 23rd largest holding. Covea Finance’s holdings in Intuitive Surgical were worth $37,895,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Tobam raised its holdings in shares of Intuitive Surgical by 666.7% in the 2nd quarter. Tobam now owns 46 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 40 shares in the last quarter. Kilter Group LLC bought a new position in shares of Intuitive Surgical during the second quarter valued at approximately $27,000. TD Capital Management LLC increased its holdings in Intuitive Surgical by 300.0% during the first quarter. TD Capital Management LLC now owns 60 shares of the medical equipment provider’s stock valued at $30,000 after buying an additional 45 shares during the period. 1248 Management LLC bought a new position in Intuitive Surgical in the first quarter worth approximately $30,000. Finally, Princeton Global Asset Management LLC bought a new position in Intuitive Surgical in the second quarter worth approximately $30,000. 83.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Henry L. Charlton sold 13,731 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $580.00, for a total value of $7,963,980.00. Following the transaction, the executive vice president directly owned 3,056 shares of the company’s stock, valued at $1,772,480. This represents a 81.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Myriam Curet sold 104 shares of Intuitive Surgical stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $559.90, for a total value of $58,229.60. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 114,007 shares of company stock valued at $63,533,844. 0.70% of the stock is owned by corporate insiders.

Intuitive Surgical Stock Up 0.1%

ISRG opened at $578.10 on Friday. The company has a market cap of $207.24 billion, a P/E ratio of 76.47, a price-to-earnings-growth ratio of 5.27 and a beta of 1.68. The firm’s 50-day moving average price is $552.90 and its 200-day moving average price is $506.91. Intuitive Surgical, Inc. has a 52-week low of $425.00 and a 52-week high of $616.00.

Intuitive Surgical (NASDAQ:ISRG) last released its earnings results on Tuesday, October 21st. The medical equipment provider reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.41. Intuitive Surgical had a net margin of 28.58% and a return on equity of 15.08%. The company had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period last year, the business earned $1.84 EPS. Intuitive Surgical’s revenue for the quarter was up 22.9% on a year-over-year basis. On average, research analysts anticipate that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Royal Bank Of Canada increased their target price on Intuitive Surgical from $625.00 to $650.00 and gave the company an “outperform” rating in a research report on Wednesday, December 17th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Intuitive Surgical in a research report on Monday. Hsbc Global Res upgraded shares of Intuitive Surgical to a “strong-buy” rating in a report on Thursday, October 23rd. Jefferies Financial Group raised their price target on shares of Intuitive Surgical from $550.00 to $560.00 and gave the company a “hold” rating in a report on Wednesday, October 22nd. Finally, Mizuho set a $575.00 price objective on shares of Intuitive Surgical in a research report on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $611.08.

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.