Intuitive Surgical, Inc. $ISRG Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 42.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 999,841 shares of the medical equipment provider’s stock after selling 745,167 shares during the period. Intuitive Surgical accounts for approximately 0.5% of Assenagon Asset Management S.A.’s investment portfolio, making the stock its 29th largest position. Assenagon Asset Management S.A.’s holdings in Intuitive Surgical were worth $397,617,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Intuitive Surgical in the fourth quarter valued at about $2,856,987,000. J. Stern & Co. LLP increased its holdings in shares of Intuitive Surgical by 18,504.6% during the 4th quarter. J. Stern & Co. LLP now owns 2,127,248 shares of the medical equipment provider’s stock worth $1,204,788,000 after buying an additional 2,115,814 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Intuitive Surgical by 1,043.3% during the 4th 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 buying an additional 1,224,734 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Intuitive Surgical by 95.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,105,544 shares of the medical equipment provider’s stock valued at $970,635,000 after buying an additional 1,027,475 shares during the period. Finally, Polen Capital Management LLC acquired a new position in Intuitive Surgical in the fourth quarter valued at approximately $477,225,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on ISRG. Sanford C. Bernstein cut their target price on Intuitive Surgical from $750.00 to $685.00 and set an “outperform” rating for the company in a research note on Friday, July 17th. TD Cowen cut Intuitive Surgical from a “buy” rating to a “hold” rating in a report on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft cut their price objective on Intuitive Surgical from $440.00 to $366.00 and set a “sell” rating for the company in a research report on Tuesday, June 2nd. Mizuho set a $500.00 price objective on shares of Intuitive Surgical and gave the company a “neutral” rating in a report on Wednesday, July 15th. 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 report on Friday, July 17th. Twenty equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Intuitive Surgical currently has a consensus rating of “Moderate Buy” and a consensus target price of $509.02.

Insider Transactions at Intuitive Surgical

In other 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 transaction of $169,656.00. Following the sale, the executive vice president owned 5,720 shares of the company’s stock, valued at approximately $2,426,080.80. This represents a 6.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 the firm’s stock in a transaction that occurred on 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 transaction, 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. 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 have sold a total of 6,634 shares of company stock valued at $2,796,795 over the last 90 days. 0.60% of the stock is currently owned by company insiders.

Intuitive Surgical Stock Down 0.4%

NASDAQ:ISRG opened at $373.71 on Friday. Intuitive Surgical, Inc. has a 52 week low of $328.57 and a 52 week high of $603.88. The stock’s fifty day moving average is $393.78 and its two-hundred day moving average is $446.25. The stock has a market capitalization of $132.02 billion, a price-to-earnings ratio of 42.81, a price-to-earnings-growth ratio of 2.71 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings data on Thursday, July 16th. The medical equipment provider reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.32. The business had revenue of $2.89 billion during 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 company’s revenue was up 18.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.81 earnings per share. On average, sell-side analysts expect that Intuitive Surgical, Inc. will post 8.87 EPS for the current fiscal year.

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.