Premier Fund Managers Ltd Cuts Stake in Intuitive Surgical, Inc. $ISRG

Premier Fund Managers Ltd lowered its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 94.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,139 shares of the medical equipment provider’s stock after selling 19,393 shares during the period. Premier Fund Managers Ltd’s holdings in Intuitive Surgical were worth $500,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. SteelPeak Wealth LLC lifted its position in Intuitive Surgical by 28.7% in the third quarter. SteelPeak Wealth LLC now owns 41,993 shares of the medical equipment provider’s stock worth $18,781,000 after purchasing an additional 9,364 shares during the period. Amalgamated Bank boosted its stake in Intuitive Surgical by 2.2% during the second quarter. Amalgamated Bank now owns 81,542 shares of the medical equipment provider’s stock valued at $44,311,000 after buying an additional 1,772 shares in the last quarter. Atlantic Union Bankshares Corp grew its holdings in Intuitive Surgical by 19.3% during the third quarter. Atlantic Union Bankshares Corp now owns 22,759 shares of the medical equipment provider’s stock worth $10,179,000 after acquiring an additional 3,676 shares during the period. Bessemer Group Inc. raised its position in Intuitive Surgical by 89.3% in the second quarter. Bessemer Group Inc. now owns 788,328 shares of the medical equipment provider’s stock worth $428,386,000 after acquiring an additional 371,806 shares in the last quarter. Finally, World Investment Advisors lifted its holdings in Intuitive Surgical by 238.3% in the 3rd quarter. World Investment Advisors now owns 5,399 shares of the medical equipment provider’s stock valued at $2,415,000 after acquiring an additional 3,803 shares during the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intuitive Surgical

In other news, EVP Myriam Curet sold 421 shares of the firm’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $494.96, for a total transaction of $208,378.16. Following the transaction, the executive vice president owned 409 shares in the company, valued at approximately $202,438.64. This trade represents a 50.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Fredrik Widman sold 133 shares of the company’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $494.96, for a total transaction of $65,829.68. Following the completion of the sale, the vice president owned 660 shares of the company’s stock, valued at $326,673.60. This represents a 16.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 56,189 shares of company stock valued at $30,785,441. 0.70% of the stock is currently owned by insiders.

Intuitive Surgical Price Performance

Shares of ISRG stock opened at $504.05 on Monday. Intuitive Surgical, Inc. has a fifty-two week low of $425.00 and a fifty-two week high of $607.35. The stock’s 50-day moving average is $535.88 and its two-hundred day moving average is $511.00. The firm has a market cap of $179.00 billion, a P/E ratio of 63.88, a PEG ratio of 3.90 and a beta of 1.65.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings results on Thursday, January 22nd. The medical equipment provider reported $2.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.26. Intuitive Surgical had a return on equity of 15.06% and a net margin of 28.38%.The business had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.72 billion. During the same period in the previous year, the company earned $2.21 EPS. The firm’s revenue was up 18.8% on a year-over-year basis. As a group, research analysts expect that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ISRG. Truist Financial lifted their price objective on shares of Intuitive Surgical from $620.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, December 18th. UBS Group restated a “neutral” rating on shares of Intuitive Surgical in a research report on Thursday, January 15th. Sanford C. Bernstein upped their price target on Intuitive Surgical from $740.00 to $750.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Intuitive Surgical in a research note on Monday, December 29th. Finally, Barclays set a $712.00 target price on Intuitive Surgical and gave the stock an “overweight” rating in a report on Monday, January 26th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Intuitive Surgical has an average rating of “Moderate Buy” and an average target price of $617.23.

About Intuitive Surgical

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.