AXQ Capital LP Trims Holdings in Intuitive Surgical, Inc. $ISRG

AXQ Capital LP trimmed its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 78.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 474 shares of the medical equipment provider’s stock after selling 1,746 shares during the period. AXQ Capital LP’s holdings in Intuitive Surgical were worth $268,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ISRG. Norges Bank acquired a new position in shares of Intuitive Surgical during the 4th quarter valued at about $2,856,987,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Intuitive Surgical by 1,043.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,342,121 shares of the medical equipment provider’s stock valued at $760,124,000 after acquiring an additional 1,224,734 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Intuitive Surgical by 106.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,533,771 shares of the medical equipment provider’s stock valued at $868,667,000 after acquiring an additional 791,516 shares during the last quarter. Amundi increased its stake in shares of Intuitive Surgical by 29.7% during the 3rd quarter. Amundi now owns 3,227,472 shares of the medical equipment provider’s stock valued at $1,451,362,000 after acquiring an additional 739,444 shares during the last quarter. Finally, Sands Capital Management LLC increased its stake in shares of Intuitive Surgical by 77.0% during the 3rd quarter. Sands Capital Management LLC now owns 1,341,109 shares of the medical equipment provider’s stock valued at $599,784,000 after acquiring an additional 583,539 shares during the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Intuitive Surgical Trading Up 0.8%

Intuitive Surgical stock opened at $422.06 on Friday. The stock has a market cap of $149.48 billion, a P/E ratio of 51.16, a price-to-earnings-growth ratio of 3.34 and a beta of 1.46. The stock has a 50 day moving average of $447.24 and a 200-day moving average of $501.02. Intuitive Surgical, Inc. has a 52 week low of $396.68 and a 52 week high of $603.88.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Evercore dropped their price objective on shares of Intuitive Surgical from $550.00 to $480.00 and set a “neutral” rating for the company in a research note on Monday, April 6th. Truist Financial dropped their price objective on shares of Intuitive Surgical from $650.00 to $580.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th. Zacks Research downgraded shares of Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Raymond James Financial dropped their price objective on shares of Intuitive Surgical from $615.00 to $577.00 and set an “outperform” rating for the company in a research note on Wednesday, April 22nd. Finally, Mizuho set a $525.00 price objective on shares of Intuitive Surgical and gave the company a “neutral” rating in a research note on Monday, April 13th. Nineteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $573.63.

Insider Activity

In other Intuitive Surgical news, Director Amy L. Ladd sold 119 shares of the company’s stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $463.50, for a total transaction of $55,156.50. Following the sale, the director owned 120 shares in the company, valued at $55,620. This represents a 49.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Iman Jeddi sold 5,625 shares of Intuitive Surgical stock in a transaction dated Monday, June 1st. The shares were 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 of the company’s stock, valued at $2,718,014.65. This trade represents a 46.53% 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 have sold a total of 7,448 shares of company stock valued at $3,224,404 over the last three months. Company insiders own 0.60% of the company’s stock.

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.