AMF Tjanstepension AB Sells 41,307 Shares of Intuitive Surgical, Inc. $ISRG

AMF Tjanstepension AB lowered its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 19.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 171,089 shares of the medical equipment provider’s stock after selling 41,307 shares during the quarter. AMF Tjanstepension AB’s holdings in Intuitive Surgical were worth $78,870,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. J. Safra Sarasin Holding AG lifted its holdings in shares of Intuitive Surgical by 18.8% in the first quarter. J. Safra Sarasin Holding AG now owns 30,210 shares of the medical equipment provider’s stock worth $13,910,000 after buying an additional 4,787 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in shares of Intuitive Surgical by 72.6% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 48,214 shares of the medical equipment provider’s stock worth $22,226,000 after acquiring an additional 20,280 shares during the last quarter. Procyon Advisors LLC grew its stake in Intuitive Surgical by 3.8% during the first quarter. Procyon Advisors LLC now owns 4,974 shares of the medical equipment provider’s stock valued at $2,293,000 after acquiring an additional 180 shares in the last quarter. LGT Fund Management Co Ltd. grew its stake in Intuitive Surgical by 565.6% during the first quarter. LGT Fund Management Co Ltd. now owns 36,057 shares of the medical equipment provider’s stock valued at $16,622,000 after acquiring an additional 30,640 shares in the last quarter. Finally, Global Assets Advisory LLC bought a new stake in Intuitive Surgical in the 1st quarter valued at $534,000. 83.64% of the stock is currently owned by institutional investors.

Intuitive Surgical Price Performance

NASDAQ ISRG opened at $406.78 on Monday. Intuitive Surgical, Inc. has a 52 week low of $396.68 and a 52 week high of $603.88. The firm has a market capitalization of $144.07 billion, a price-to-earnings ratio of 49.31, a PEG ratio of 3.31 and a beta of 1.46. The company has a fifty day moving average of $422.09 and a two-hundred day moving average of $473.91.

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on ISRG shares. Zacks Research downgraded Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Truist Financial reduced their price objective on Intuitive Surgical from $650.00 to $580.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Barclays set a $651.00 price objective on Intuitive Surgical and gave the stock an “overweight” rating in a report on Thursday, April 23rd. UBS Group lowered their target price on Intuitive Surgical from $570.00 to $550.00 and set a “neutral” rating for the company in a research report on Tuesday, March 17th. Finally, BTIG Research reissued a “buy” rating and issued a $574.00 target price on shares of Intuitive Surgical in a report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Intuitive Surgical has an average rating of “Moderate Buy” and a consensus price target of $569.20.

Key Headlines Impacting Intuitive Surgical

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

• Positive Sentiment: BMO Capital Markets upgraded Intuitive Surgical to strong-buy, which can help sentiment by signaling confidence in the stock’s long-term outlook. Zacks.com
• Positive Sentiment: Investor interest remains supported by expectations that July 16 results will show higher sales and EPS, with strong adoption of the da Vinci 5 surgical robot seen as a key growth driver. ISRG to Report Q2 Results Next Week: Should You Buy the Stock Now?
• Neutral Sentiment: Evercore ISI cut its price target to $430 from $480 while keeping an In Line rating, suggesting the company still has growth potential but investors may be more cautious on near-term upside. Is Intuitive Surgical (ISRG) One Of MedTech’s Best AI Stock To Buy?
• Neutral Sentiment: Options traders are pricing in a wide range of outcomes for ISRG ahead of earnings, reflecting uncertainty around how the report and guidance could move the stock. Just How Much Risk Is Built Into ISRG Stock?
• Negative Sentiment: Investors are weighing possible margin pressure, which could limit enthusiasm even if revenue and earnings grow next quarter. ISRG to Report Q2 Results Next Week: Should You Buy the Stock Now?

Insiders Place Their Bets

In related news, EVP Gary Loeb sold 400 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total transaction of $169,656.00. Following the completion of the transaction, the executive vice president owned 5,720 shares in the company, valued at $2,426,080.80. The trade was a 6.54% decrease in their position. The transaction was disclosed in a legal 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, SVP Iman Jeddi sold 5,625 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $420.55, for a total value 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. This trade represents a 46.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 7,169 shares of company stock valued at $3,059,135 over the last 90 days. Insiders own 0.60% of the company’s stock.

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.