Bridges Investment Management Inc. Sells 1,324 Shares of Intuitive Surgical, Inc. $ISRG

Bridges Investment Management Inc. lessened its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 0.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 169,622 shares of the medical equipment provider’s stock after selling 1,324 shares during the period. Intuitive Surgical makes up about 1.2% of Bridges Investment Management Inc.’s holdings, making the stock its 22nd largest position. Bridges Investment Management Inc.’s holdings in Intuitive Surgical were worth $96,067,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Intuitive Surgical by 0.8% during the third quarter. Vanguard Group Inc. now owns 33,599,661 shares of the medical equipment provider’s stock valued at $15,026,776,000 after buying an additional 263,828 shares during the last quarter. Capital World Investors boosted its position in shares of Intuitive Surgical by 1.5% during the third quarter. Capital World Investors now owns 7,728,492 shares of the medical equipment provider’s stock valued at $3,456,223,000 after buying an additional 116,034 shares during the last quarter. Norges Bank purchased a new position in shares of Intuitive Surgical during the fourth quarter valued at approximately $2,856,987,000. Fisher Asset Management LLC boosted its position in shares of Intuitive Surgical by 1.1% during the third quarter. Fisher Asset Management LLC now owns 3,889,439 shares of the medical equipment provider’s stock valued at $1,739,475,000 after buying an additional 40,702 shares during the last quarter. Finally, Amundi boosted its position in shares of Intuitive Surgical by 29.7% during the third quarter. Amundi now owns 3,227,472 shares of the medical equipment provider’s stock valued at $1,451,362,000 after buying an additional 739,444 shares during the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.

Key Intuitive Surgical News

Here are the key news stories impacting Intuitive Surgical this week:

• Negative Sentiment: Deutsche Bank cut its price target on Intuitive Surgical (ISRG) to $366 from $440 and kept a sell rating, reinforcing concerns that the stock may have further downside from current levels. MarketScreener article
• Negative Sentiment: Company SVP Iman Jeddi sold 5,625 shares in a pre-arranged 10b5-1 plan, a transaction that can still weigh on sentiment because it reduces insider ownership and may signal caution to some investors.
• Neutral Sentiment: Several articles highlighted that ISRG is a highly watched and frequently traded name, but these pieces were mostly informational and did not present a new catalyst. Zacks article
• Neutral Sentiment: Analysts and commentary also pointed to Intuitive Surgical’s AI-driven digital roadmap and connected da Vinci ecosystem as a potential long-term growth driver, but that story appears to be offset today by valuation and rating concerns. Yahoo Finance article

Insider Buying and Selling at Intuitive Surgical

In related news, SVP Iman Jeddi sold 5,625 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $420.55, for a total transaction of $2,365,593.75. Following the completion of the transaction, the senior vice president directly owned 6,463 shares in the company, valued at $2,718,014.65. The trade was a 46.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 500 shares of the company’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $473.46, for a total value of $236,730.00. Following the completion of the transaction, the director owned 239 shares of the company’s stock, valued at $113,156.94. The trade was a 67.66% 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 8,096 shares of company stock valued at $3,545,294 over the last 90 days. Insiders own 0.60% of the company’s stock.

Intuitive Surgical Stock Down 2.4%

Intuitive Surgical stock opened at $402.30 on Wednesday. Intuitive Surgical, Inc. has a 52 week low of $396.68 and a 52 week high of $603.88. The business has a 50-day simple moving average of $452.19 and a 200 day simple moving average of $504.81. The stock has a market cap of $142.48 billion, a price-to-earnings ratio of 48.76, a PEG ratio of 3.29 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG) last posted its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 EPS for the quarter, topping the consensus estimate of $2.08 by $0.42. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same period in the previous year, the business earned $1.81 earnings per share. The firm’s revenue was up 23.0% on a year-over-year basis. On average, research analysts anticipate that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ISRG has been the topic of several research reports. Weiss Ratings restated a “hold (c)” rating on shares of Intuitive Surgical in a research note on Tuesday, May 19th. Citigroup upgraded Intuitive Surgical from a “neutral” rating to a “buy” rating and set a $590.00 price objective on the stock in a research note on Wednesday, March 11th. Raymond James Financial decreased their price objective on Intuitive Surgical from $615.00 to $577.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 22nd. Wall Street Zen lowered Intuitive Surgical from a “buy” rating to a “hold” rating in a research note on Sunday, May 24th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Intuitive Surgical from $440.00 to $366.00 and set a “sell” rating on the stock in a research note on Tuesday. Nineteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $573.63.

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.