Hsbc Holdings PLC Lowers Position in Intuitive Surgical, Inc. $ISRG

Hsbc Holdings PLC decreased its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 13.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 702,369 shares of the medical equipment provider’s stock after selling 108,721 shares during the quarter. Hsbc Holdings PLC’s holdings in Intuitive Surgical were worth $398,173,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Norges Bank purchased a new stake in Intuitive Surgical in the 4th quarter worth $2,856,987,000. J. Stern & Co. LLP grew its position in shares of Intuitive Surgical by 18,504.6% during the fourth quarter. J. Stern & Co. LLP now owns 2,127,248 shares of the medical equipment provider’s stock valued at $1,204,788,000 after purchasing an additional 2,115,814 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Intuitive Surgical by 1,043.3% during the fourth 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 purchasing an additional 1,224,734 shares in the last quarter. Polen Capital Management LLC bought a new stake in shares of Intuitive Surgical in the fourth quarter worth about $477,225,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Intuitive Surgical by 106.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,533,771 shares of the medical equipment provider’s stock worth $868,667,000 after purchasing an additional 791,516 shares during the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Intuitive Surgical

In related news, 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 value of $2,365,593.75. Following the sale, the senior vice president directly owned 6,463 shares of the company’s stock, valued at $2,718,014.65. This represents a 46.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of the stock in a transaction dated 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 sale, the executive vice president directly owned 5,720 shares in the company, valued at $2,426,080.80. This trade represents a 6.54% 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. In the last ninety days, insiders have sold 7,169 shares of company stock worth $3,059,135. Insiders own 0.60% of the company’s stock.

Intuitive Surgical Price Performance

NASDAQ ISRG opened at $406.78 on Friday. 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 $438.43 and a two-hundred day moving average of $490.46.

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.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Zacks Research lowered Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. BTIG Research reaffirmed a “buy” rating and issued a $574.00 price objective on shares of Intuitive Surgical in a research note on Wednesday, April 22nd. Truist Financial decreased their price objective on Intuitive Surgical from $650.00 to $580.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. HSBC lowered their target price on Intuitive Surgical from $653.00 to $604.00 and set a “buy” rating for the company in a research report on Wednesday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Intuitive Surgical from $440.00 to $366.00 and set a “sell” rating for the company in a report on Tuesday, June 2nd. Nineteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $573.42.

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.