Intuitive Surgical, Inc. $ISRG Shares Sold by Perceptive Advisors LLC

Perceptive Advisors LLC cut its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 2.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 85,419 shares of the medical equipment provider’s stock after selling 2,500 shares during the quarter. Perceptive Advisors LLC’s holdings in Intuitive Surgical were worth $39,377,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Prosperity Consulting Group LLC raised its holdings in shares of Intuitive Surgical by 0.5% during the third quarter. Prosperity Consulting Group LLC now owns 4,033 shares of the medical equipment provider’s stock worth $1,804,000 after purchasing an additional 19 shares during the period. Sunburst Financial Group LLC boosted its holdings in shares of Intuitive Surgical by 4.3% in the 4th quarter. Sunburst Financial Group LLC now owns 485 shares of the medical equipment provider’s stock valued at $275,000 after buying an additional 20 shares during the period. WoodTrust Financial Corp boosted its holdings in shares of Intuitive Surgical by 0.5% in the 4th quarter. WoodTrust Financial Corp now owns 4,180 shares of the medical equipment provider’s stock valued at $2,367,000 after buying an additional 20 shares during the period. North Star Investment Management Corp. grew its position in shares of Intuitive Surgical by 8.5% during the 4th quarter. North Star Investment Management Corp. now owns 269 shares of the medical equipment provider’s stock valued at $152,000 after buying an additional 21 shares during the last quarter. Finally, Cornerstone Planning Group LLC grew its position in shares of Intuitive Surgical by 11.5% during the 4th quarter. Cornerstone Planning Group LLC now owns 203 shares of the medical equipment provider’s stock valued at $106,000 after buying an additional 21 shares during the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.

Insider Activity

In related 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 value of $169,656.00. Following the completion of the transaction, the executive vice president owned 5,720 shares in the company, valued at $2,426,080.80. This represents a 6.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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 dated 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 transaction, the senior vice president directly owned 6,463 shares in the company, valued at approximately $2,718,014.65. The trade was a 46.53% 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 6,634 shares of company stock valued at $2,796,795 in the last ninety days. Corporate insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

ISRG has been the topic of a number of recent research reports. BTIG Research cut their target price on shares of Intuitive Surgical from $512.00 to $469.00 and set a “buy” rating on the stock in a report on Friday, July 17th. Leerink Partners reduced their price objective on Intuitive Surgical from $573.00 to $454.00 and set an “outperform” rating for the company in a research report on Friday, July 17th. JPMorgan Chase & Co. reduced their price objective 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. Citigroup lowered their price objective on Intuitive Surgical from $590.00 to $500.00 and set a “buy” rating for the company in a research note on Friday, July 17th. Finally, TD Cowen lowered Intuitive Surgical from a “buy” rating to a “hold” rating in a research report on Tuesday. Twenty equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $509.02.

Key Headlines Impacting Intuitive Surgical

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

• Positive Sentiment: UBS upgraded ISRG, arguing that the recent selloff was excessive. The firm’s revised price target of $475 implies meaningful upside and may be supporting renewed investor interest. UBS upgrades Intuitive Surgical
• Positive Sentiment: Intuitive Surgical’s expansion beyond urology into general surgery and other specialties could create additional procedure growth and increase long-term demand for da Vinci systems, instruments and related services. Robotic surgery expansion beyond urology
• Positive Sentiment: Analyst sentiment remains broadly favorable, with the brokerage consensus at “Moderate Buy.” The company’s recurring revenue from instruments and accessories, expanding installed base and durable robotic-surgery demand remain key bullish arguments. Brokerage consensus on Intuitive Surgical
• Neutral Sentiment: Zacks highlighted the unusually high level of investor interest in ISRG, but the article did not provide a new earnings or guidance catalyst. Zacks investor attention report
• Neutral Sentiment: An executive’s small stock sales were made under a pre-arranged Rule 10b5-1 plan and reduced his holdings by roughly 2%, making them unlikely to materially alter the investment case. Intuitive Surgical insider sale
• Negative Sentiment: HSBC lowered Intuitive Surgical from Buy to Hold and set a $391 price target. Although that target remains above recent trading levels, the downgrade signals reduced confidence in the stock’s near-term upside. HSBC downgrades Intuitive Surgical
• Negative Sentiment: Despite a quarterly revenue and earnings beat, investors remain concerned about softer U.S. procedure growth, deferred care and the premium valuation. Those worries have contributed to continued pressure in the shares. Intuitive Surgical post-earnings selloff

Intuitive Surgical Price Performance

ISRG opened at $353.33 on Friday. The stock’s 50 day moving average price is $398.27 and its 200 day moving average price is $451.98. The stock has a market cap of $124.82 billion, a P/E ratio of 40.47, a P/E/G ratio of 2.55 and a beta of 1.46. Intuitive Surgical, Inc. has a 12 month low of $328.57 and a 12 month high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings results on Thursday, July 16th. The medical equipment provider reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.32. The company 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 for the quarter was up 18.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.81 earnings per share. Equities analysts anticipate that Intuitive Surgical, Inc. will post 8.87 EPS for the current 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.