AIA Group Ltd Reduces Holdings in Intuitive Surgical, Inc. $ISRG

AIA Group Ltd lowered its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 21.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 51,488 shares of the medical equipment provider’s stock after selling 14,032 shares during the period. AIA Group Ltd’s holdings in Intuitive Surgical were worth $23,735,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ISRG. Brighton Jones LLC raised its stake in shares of Intuitive Surgical by 24.9% during the fourth quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider’s stock worth $1,916,000 after purchasing an additional 731 shares during the last quarter. Sivia Capital Partners LLC raised its position in Intuitive Surgical by 3.8% during the 2nd quarter. Sivia Capital Partners LLC now owns 928 shares of the medical equipment provider’s stock worth $504,000 after buying an additional 34 shares during the last quarter. Schnieders Capital Management LLC. lifted its stake in shares of Intuitive Surgical by 38.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 973 shares of the medical equipment provider’s stock worth $529,000 after acquiring an additional 268 shares during the period. Osterweis Capital Management Inc. acquired a new stake in shares of Intuitive Surgical in the 2nd quarter worth $200,000. Finally, Main Street Financial Solutions LLC boosted its holdings in shares of Intuitive Surgical by 92.4% in the second quarter. Main Street Financial Solutions LLC now owns 2,929 shares of the medical equipment provider’s stock valued at $1,592,000 after acquiring an additional 1,407 shares in the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.

Intuitive Surgical Price Performance

Shares of NASDAQ:ISRG opened at $345.42 on Friday. The firm has a market capitalization of $122.33 billion, a price-to-earnings ratio of 39.57, a price-to-earnings-growth ratio of 2.81 and a beta of 1.46. The business’s 50 day simple moving average is $415.28 and its 200-day simple moving average is $467.88. Intuitive Surgical, Inc. has a 12 month low of $344.55 and a 12 month high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.42. The firm 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 17.09% and a net margin of 28.45%.Intuitive Surgical’s revenue was up 23.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.81 earnings per share. On average, equities analysts anticipate that Intuitive Surgical, Inc. will post 8.62 earnings per share for the current year.

More Intuitive Surgical News

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

• Positive Sentiment: Intuitive Surgical reported stronger-than-expected Q2 revenue and earnings, helped by solid demand for its da Vinci robotic surgery systems and continued adoption of its products. Reuters article
• Positive Sentiment: The company still reported healthy procedure growth overall, with worldwide procedures rising and placements of robotic systems remaining strong, which supports the long-term investment case. Yahoo Finance article
• Neutral Sentiment: Several analysts lowered price targets after the report, but most kept bullish ratings such as overweight, buy, or outperform, suggesting Wall Street still sees meaningful upside despite the near-term pullback. Benzinga article
• Negative Sentiment: Management did not raise its forecast for procedure growth, and investors reacted badly to slower U.S. procedure growth and a cautious full-year outlook. Benzinga article
• Negative Sentiment: Reuters also noted concerns that changes to some insurance plans could reduce demand, adding to worries about slower U.S. growth and a softer near-term procedure trajectory. Reuters article

Insider Activity

In related news, EVP Gary Loeb sold 400 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $424.14, for a total value of $169,656.00. Following the sale, the executive vice president directly owned 5,720 shares of the company’s stock, valued at approximately $2,426,080.80. This represents a 6.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 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 sale, the senior vice president directly owned 6,463 shares in the company, valued at approximately $2,718,014.65. The trade was a 46.53% 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 a total of 7,169 shares of company stock worth $3,059,135 over the last 90 days. 0.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Robert W. Baird cut their price target on shares of Intuitive Surgical from $525.00 to $500.00 and set an “outperform” rating for the company in a report on Friday. The Goldman Sachs Group set a $558.00 price objective on Intuitive Surgical in a report on Wednesday, May 27th. BMO Capital Markets assumed coverage on Intuitive Surgical in a research report on Wednesday, July 8th. They set an “outperform” rating and a $518.00 target price on the stock. Jefferies Financial Group cut their target price on Intuitive Surgical from $560.00 to $515.00 and set a “hold” rating for the company in a research note on Wednesday, April 22nd. Finally, Piper Sandler reissued an “overweight” rating and issued a $470.00 price target (down from $580.00) on shares of Intuitive Surgical in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $523.46.

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.