Intuitive Surgical, Inc. $ISRG Shares Sold by Royal Bank of Canada

Royal Bank of Canada decreased its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 12.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,882,391 shares of the medical equipment provider’s stock after selling 257,458 shares during the period. Royal Bank of Canada’s holdings in Intuitive Surgical were worth $867,765,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ISRG. Newbridge Financial Services Group Inc. lifted its holdings in Intuitive Surgical by 300.0% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 33 shares during the last quarter. Main Street Group LTD bought a new stake in shares of Intuitive Surgical in the 1st quarter worth approximately $30,000. Laurel Wealth Advisors LLC acquired a new stake in Intuitive Surgical during the fourth quarter valued at approximately $31,000. Vermillion Wealth Management Inc. lifted its stake in Intuitive Surgical by 58.1% during the first quarter. Vermillion Wealth Management Inc. now owns 68 shares of the medical equipment provider’s stock valued at $31,000 after purchasing an additional 25 shares during the last quarter. Finally, Turning Point Benefit Group Inc. boosted its holdings 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 worth $32,000 after buying an additional 50 shares in the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Intuitive Surgical Trading Up 1.4%

Shares of Intuitive Surgical stock opened at $361.80 on Wednesday. Intuitive Surgical, Inc. has a 1 year low of $328.57 and a 1 year high of $603.88. The company has a market cap of $127.82 billion, a P/E ratio of 41.44, a P/E/G ratio of 2.58 and a beta of 1.46. The stock has a 50-day moving average price of $403.62 and a 200 day moving average price of $455.95.

Intuitive Surgical (NASDAQ:ISRG) last released its earnings results on Thursday, July 16th. The medical equipment provider reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.32. The company had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.83 billion. Intuitive Surgical had a return on equity of 16.91% and a net margin of 28.45%.The business’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.81 EPS. On average, equities analysts forecast that Intuitive Surgical, Inc. will post 8.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Bank of America decreased their price target on shares of Intuitive Surgical from $520.00 to $515.00 in a research report on Friday, June 12th. JPMorgan Chase & Co. decreased their price target on Intuitive Surgical from $550.00 to $450.00 and set an “overweight” rating for the company in a research report on Friday, July 17th. HSBC dropped their price target on Intuitive Surgical from $653.00 to $604.00 and set a “buy” rating on the stock in a research note on Wednesday, April 22nd. Wells Fargo & Company reaffirmed an “overweight” rating and set a $487.00 price objective (down from $654.00) on shares of Intuitive Surgical in a research note on Friday, July 17th. Finally, Deutsche Bank Aktiengesellschaft decreased 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. Twenty-one equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $517.21.

Insider Buying and Selling at Intuitive Surgical

In related news, EVP Gary Loeb sold 400 shares of the 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 sale, the executive vice president directly owned 5,720 shares in the company, valued at approximately $2,426,080.80. This trade represents a 6.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 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 sale, the senior vice president directly owned 6,463 shares of the company’s stock, valued at approximately $2,718,014.65. The trade was a 46.53% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 6,550 shares of company stock worth $2,767,249. 0.60% of the stock is currently owned by corporate insiders.

More Intuitive Surgical News

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

• Positive Sentiment: Durable demand and improved margins: On its second-quarter earnings call, Intuitive Surgical highlighted continued demand for its da Vinci surgical systems and raised margin guidance. The company’s latest quarter also exceeded analyst expectations for revenue and earnings, supporting confidence in operating execution. ISRG Q2 Earnings Call Signals Durable Demand & U.S. Caution
• Positive Sentiment: Analysts see significant recovery potential: Wall Street’s average price target is substantially above the current trading level, with one analyst reportedly assigning a target of $685. The bullish view reflects expectations for further procedure growth, broader adoption of robotic-assisted surgery and recurring instrument and service revenue. Why Wall Street Thinks Intuitive Surgical Stock Could Soar
• Positive Sentiment: Patient-awareness campaign: Intuitive announced a collaboration with Deion “Coach Prime” Sanders to educate patients about surgical options and encourage discussions with physicians. The campaign could increase public awareness of da Vinci procedures, although its financial impact is likely longer term. Intuitive Collaborates with Deion Sanders
• Neutral Sentiment: Governance update: The board amended the company’s bylaws and proxy rules. The changes may affect shareholder proposals and corporate governance but do not appear to alter Intuitive Surgical’s operating outlook. Intuitive Surgical Tightens Shareholder Governance and Proxy Rules
• Negative Sentiment: U.S. growth and coverage risks: Management cautioned about slower U.S. procedure growth and deferred care. Separately, the loss of enhanced Affordable Care Act subsidies could reduce insurance coverage, potentially delaying elective procedures and limiting near-term demand. The ACA Coverage Debate Just Became a $50 Billion Question

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.