Allspring Global Investments Holdings LLC Sells 8,356 Shares of Intuitive Surgical, Inc. $ISRG

Allspring Global Investments Holdings LLC reduced its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 5.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 137,212 shares of the medical equipment provider’s stock after selling 8,356 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Intuitive Surgical were worth $63,728,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. boosted its stake in shares of Intuitive Surgical by 300.0% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 33 shares during the last quarter. Holos Integrated Wealth LLC purchased a new stake in shares of Intuitive Surgical in the 4th quarter worth $25,000. Olistico Wealth LLC bought a new position in Intuitive Surgical in the 4th quarter worth $28,000. Laurel Wealth Advisors LLC bought a new position in Intuitive Surgical in the 4th quarter worth $31,000. Finally, Turning Point Benefit Group Inc. lifted its position in Intuitive Surgical by 833.3% during the fourth quarter. Turning Point Benefit Group Inc. now owns 56 shares of the medical equipment provider’s stock valued at $32,000 after purchasing an additional 50 shares in the last quarter. 83.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on ISRG shares. Raymond James Financial reissued an “outperform” rating and set a $483.00 price target (down from $577.00) on shares of Intuitive Surgical in a report on Friday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Intuitive Surgical in a research report on Tuesday, May 19th. Sanford C. Bernstein cut their price objective on Intuitive Surgical from $750.00 to $685.00 and set an “outperform” rating for the company in a research note on Friday. Bank of America reduced their target price on shares of Intuitive Surgical from $520.00 to $515.00 in a report on Friday, June 12th. Finally, Robert W. Baird decreased their target price on shares of Intuitive Surgical from $525.00 to $500.00 and set an “outperform” rating on the stock in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $523.46.

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, SVP Iman Jeddi sold 5,625 shares of the business’s stock in a transaction that occurred on 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $424.14, for a total value of $169,656.00. Following the transaction, the executive vice president directly owned 5,720 shares in the company, valued at approximately $2,426,080.80. This represents a 6.54% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 7,169 shares of company stock worth $3,059,135 over the last 90 days. Company insiders own 0.60% of the company’s stock.

Intuitive Surgical Trading Down 14.1%

Intuitive Surgical stock opened at $345.42 on Friday. Intuitive Surgical, Inc. has a 12-month low of $344.55 and a 12-month high of $603.88. The firm has a 50-day moving average price of $415.28 and a 200-day moving average price of $467.88. The firm has a market capitalization of $122.33 billion, a PE ratio of 39.57, a price-to-earnings-growth ratio of 3.27 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly 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. Intuitive Surgical had a net margin of 28.45% and a return on equity of 17.09%. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same period in the prior year, the firm posted $1.81 EPS. The firm’s revenue was up 23.0% compared to the same quarter last year. As a group, sell-side analysts predict that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current fiscal year.

Key Stories Impacting Intuitive Surgical

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

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.