The Manufacturers Life Insurance Company Sells 49,408 Shares of Intuitive Surgical, Inc. $ISRG

The Manufacturers Life Insurance Company cut its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 11.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 390,469 shares of the medical equipment provider’s stock after selling 49,408 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Intuitive Surgical were worth $180,000,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Newbridge Financial Services Group Inc. raised its stake in 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 valued at $25,000 after purchasing an additional 33 shares during the last quarter. Laurel Wealth Advisors LLC bought a new stake in Intuitive Surgical in the 4th quarter valued at $31,000. Turning Point Benefit Group Inc. grew its position in Intuitive Surgical by 833.3% in the 4th quarter. Turning Point Benefit Group Inc. now owns 56 shares of the medical equipment provider’s stock worth $32,000 after purchasing an additional 50 shares during the last quarter. Motiv8 Investments LLC acquired a new stake in Intuitive Surgical in the 4th quarter worth $34,000. Finally, Oakworth Capital Inc. increased its holdings in shares of Intuitive Surgical by 281.2% during the 4th quarter. Oakworth Capital Inc. now owns 61 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 45 shares during the period. 83.64% of the stock is owned by institutional investors.

Intuitive Surgical News Roundup

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

Insider Activity

In other news, EVP Gary Loeb sold 400 shares of the firm’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 transaction of $169,656.00. Following the completion of the sale, the executive vice president owned 5,720 shares of the company’s stock, valued at approximately $2,426,080.80. This trade represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 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 owned 6,463 shares of the company’s stock, valued at $2,718,014.65. This trade represents 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. Insiders have sold a total of 6,550 shares of company stock valued at $2,767,249 over the last three months. 0.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. BTIG Research reduced their target price on shares of Intuitive Surgical from $512.00 to $469.00 and set a “buy” rating for the company in a research note on Friday, July 17th. HSBC lowered their price objective on Intuitive Surgical from $653.00 to $604.00 and set a “buy” rating on the stock in a research report on Wednesday, April 22nd. Wall Street Zen raised Intuitive Surgical from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Truist Financial lowered their price target on shares of Intuitive Surgical from $580.00 to $510.00 and set a “buy” rating on the stock in a report on Thursday, July 16th. Finally, Piper Sandler set a $357.44 price objective on shares of Intuitive Surgical in a report on Monday. Twenty-one 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $517.21.

Intuitive Surgical Stock Performance

Shares of NASDAQ ISRG opened at $361.80 on Wednesday. The stock has a market cap of $127.82 billion, a PE ratio of 41.44, a PEG ratio of 2.58 and a beta of 1.46. The business has a fifty day moving average of $403.62 and a two-hundred day moving average of $455.95. Intuitive Surgical, Inc. has a 52-week low of $328.57 and a 52-week high of $603.88.

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

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.