Royal Bank of Canada Sells 263,550 Shares of Intuitive Surgical, Inc. $ISRG

Royal Bank of Canada lowered its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 11.0% during the 4th quarter, HoldingsChannel reports. The fund owned 2,139,849 shares of the medical equipment provider’s stock after selling 263,550 shares during the period. Royal Bank of Canada’s holdings in Intuitive Surgical were worth $1,211,925,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp lifted its stake in shares of Intuitive Surgical by 1.0% in the fourth quarter. State Street Corp now owns 15,701,591 shares of the medical equipment provider’s stock worth $8,892,753,000 after buying an additional 162,264 shares in the last quarter. Capital World Investors lifted its stake in shares of Intuitive Surgical by 1.7% in the fourth quarter. Capital World Investors now owns 7,856,018 shares of the medical equipment provider’s stock worth $4,449,491,000 after buying an additional 127,526 shares in the last quarter. Norges Bank bought a new position in shares of Intuitive Surgical in the fourth quarter worth approximately $2,856,987,000. Fisher Asset Management LLC lifted its stake in shares of Intuitive Surgical by 1.1% in the third quarter. Fisher Asset Management LLC now owns 3,889,439 shares of the medical equipment provider’s stock worth $1,739,475,000 after buying an additional 40,702 shares in the last quarter. Finally, Amundi lifted its stake in shares of Intuitive Surgical by 29.7% in the third quarter. Amundi now owns 3,227,472 shares of the medical equipment provider’s stock worth $1,451,362,000 after buying an additional 739,444 shares in the last quarter. Institutional investors own 83.64% of the company’s stock.

Insider Activity at Intuitive Surgical

In related news, SVP Iman Jeddi sold 5,625 shares of the 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 transaction, the senior vice president owned 6,463 shares in the company, valued at $2,718,014.65. This represents a 46.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of the 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 transaction, the executive vice president owned 5,720 shares in the company, valued at approximately $2,426,080.80. This trade represents a 6.54% 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 7,169 shares of company stock worth $3,059,135 over the last quarter. Company insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

ISRG has been the topic of several analyst reports. Truist Financial dropped 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. UBS Group dropped their target price on shares of Intuitive Surgical from $570.00 to $550.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Intuitive Surgical in a research note on Tuesday, May 19th. Jefferies Financial Group dropped their target price on shares of Intuitive Surgical from $560.00 to $515.00 and set a “hold” rating on the stock in a research note on Wednesday, April 22nd. Finally, Zacks Research downgraded shares of Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Nineteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $573.42.

Intuitive Surgical Stock Up 0.1%

Shares of Intuitive Surgical stock opened at $417.07 on Wednesday. The company has a market cap of $147.71 billion, a price-to-earnings ratio of 50.55, a price-to-earnings-growth ratio of 3.39 and a beta of 1.46. The company’s 50 day moving average is $441.47 and its 200 day moving average is $493.43. Intuitive Surgical, Inc. has a twelve month low of $396.68 and a twelve month high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.42. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.62 billion. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The firm’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.81 earnings per share. Sell-side analysts expect that Intuitive Surgical, Inc. will post 8.57 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.