Intuitive Surgical, Inc. $ISRG Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 4.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,920,227 shares of the medical equipment provider’s stock after selling 203,063 shares during the period. Bank of New York Mellon Corp’s holdings in Intuitive Surgical were worth $2,220,260,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Rational Advisors Inc. increased its holdings in Intuitive Surgical by 46.7% during the 4th quarter. Rational Advisors Inc. now owns 1,665 shares of the medical equipment provider’s stock worth $943,000 after purchasing an additional 530 shares during the period. Harfst & Associates Inc. raised its position in Intuitive Surgical by 1.8% in the 4th quarter. Harfst & Associates Inc. now owns 3,167 shares of the medical equipment provider’s stock valued at $1,794,000 after purchasing an additional 56 shares in the last quarter. Westpac Banking Corp boosted its stake in shares of Intuitive Surgical by 6.6% in the 4th quarter. Westpac Banking Corp now owns 4,653 shares of the medical equipment provider’s stock valued at $2,635,000 after buying an additional 287 shares during the period. Rice Partnership LLC purchased a new position in shares of Intuitive Surgical in the 4th quarter valued at about $207,000. Finally, Kesler Norman & Wride LLC grew its position in shares of Intuitive Surgical by 97.5% during the fourth quarter. Kesler Norman & Wride LLC now owns 2,111 shares of the medical equipment provider’s stock worth $1,196,000 after buying an additional 1,042 shares in the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.

Intuitive Surgical Trading Down 2.4%

ISRG stock opened at $402.30 on Wednesday. Intuitive Surgical, Inc. has a twelve month low of $396.68 and a twelve month high of $603.88. The company’s 50 day moving average is $452.19 and its two-hundred day moving average is $504.81. The stock has a market cap of $142.48 billion, a P/E ratio of 48.76, a PEG ratio of 3.29 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.42. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.62 billion. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The company’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.81 EPS. On average, equities research analysts predict that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ISRG shares. Truist Financial cut their target price on shares of Intuitive Surgical from $650.00 to $580.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Evercore lowered their price target on shares of Intuitive Surgical from $550.00 to $480.00 and set a “neutral” rating for the company in a report on Monday, April 6th. HSBC dropped their price objective on shares of Intuitive Surgical from $653.00 to $604.00 and set a “buy” rating on the stock in a research report on Wednesday, April 22nd. TD Cowen reduced their price objective on shares of Intuitive Surgical from $660.00 to $585.00 and set a “buy” rating on the stock in a report on Wednesday, April 22nd. Finally, Leerink Partners decreased their price objective on shares of Intuitive Surgical from $622.00 to $573.00 and set an “outperform” rating for the company in a research report on Wednesday, April 22nd. Nineteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Intuitive Surgical presently has an average rating of “Moderate Buy” and a consensus price target of $573.63.

Intuitive Surgical News Roundup

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

• Negative Sentiment: Deutsche Bank cut its price target on Intuitive Surgical (ISRG) to $366 from $440 and kept a sell rating, reinforcing concerns that the stock may have further downside from current levels. MarketScreener article
• Negative Sentiment: Company SVP Iman Jeddi sold 5,625 shares in a pre-arranged 10b5-1 plan, a transaction that can still weigh on sentiment because it reduces insider ownership and may signal caution to some investors.
• Neutral Sentiment: Several articles highlighted that ISRG is a highly watched and frequently traded name, but these pieces were mostly informational and did not present a new catalyst. Zacks article
• Neutral Sentiment: Analysts and commentary also pointed to Intuitive Surgical’s AI-driven digital roadmap and connected da Vinci ecosystem as a potential long-term growth driver, but that story appears to be offset today by valuation and rating concerns. Yahoo Finance article

Insider Transactions at Intuitive Surgical

In related news, SVP Mark Brosius sold 645 shares of the company’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $485.01, for a total value of $312,831.45. Following the completion of the sale, the senior vice president directly owned 1,613 shares of the company’s stock, valued at $782,321.13. This represents a 28.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Iman Jeddi sold 5,625 shares of Intuitive Surgical stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $420.55, for a total value 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. 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 sold 8,096 shares of company stock valued at $3,545,294 over the last quarter. 0.60% of the stock is owned by corporate insiders.

About Intuitive Surgical

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.