Intuitive Surgical, Inc. $ISRG Shares Sold by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG lessened its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 0.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 191,661 shares of the medical equipment provider’s stock after selling 1,763 shares during the period. Intuitive Surgical comprises approximately 1.5% of Bank Pictet & Cie Europe AG’s investment portfolio, making the stock its 18th biggest holding. Bank Pictet & Cie Europe AG’s holdings in Intuitive Surgical were worth $77,935,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of ISRG. Bank of New York Mellon Corp bought a new stake in Intuitive Surgical during the 2nd quarter valued at $1,335,753,000. Arrowstreet Capital Limited Partnership grew 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 worth $970,635,000 after buying an additional 1,027,475 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Intuitive Surgical by 55.8% during the third quarter. Assenagon Asset Management S.A. now owns 1,557,940 shares of the medical equipment provider’s stock valued at $633,505,000 after buying an additional 558,099 shares during the period. Amundi increased its stake in shares of Intuitive Surgical by 8.6% during the first quarter. Amundi now owns 2,428,356 shares of the medical equipment provider’s stock valued at $1,119,448,000 after buying an additional 193,096 shares during the period. Finally, Temasek Holdings Private Ltd raised its holdings in shares of Intuitive Surgical by 416.4% in the first quarter. Temasek Holdings Private Ltd now owns 227,211 shares of the medical equipment provider’s stock valued at $104,742,000 after acquiring an additional 183,211 shares in the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Insider Buying and Selling

In other Intuitive Surgical news, EVP Mark Brosius sold 77 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $375.57, for a total value of $28,918.89. Following the completion of the sale, the executive vice president directly owned 881 shares in the company, valued at $330,877.17. This trade represents a 8.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $379.00, for a total transaction of $151,600.00. Following the completion of the sale, the executive vice president owned 5,320 shares of the company’s stock, valued at approximately $2,016,280. This trade represents a 6.99% decrease in their ownership of the stock. 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 12,370 shares of company stock valued at $4,891,989 over the last three months. Corporate insiders own 0.60% of the company’s stock.

Key Intuitive Surgical News

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

• Positive Sentiment: TD Cowen maintained a Buy rating and a $485 price target, citing robust demand for robotic surgery and potential upside relative to conservative forecasts. Analyst Maintains Buy on Robust Robotic Demand
• Positive Sentiment: Investors continue to see a strong long-term growth case as da Vinci 5 placements rose to 246 in the second quarter from 180 a year earlier, while procedures increased about 15%. Intuitive’s recurring revenue from instruments, accessories and servicing also expands with procedure volume. The Bull Case for Intuitive Surgical
• Neutral Sentiment: Attention is centered on the earnings release after market close. The market expects revenue growth of approximately 15.6% year over year, below the 22.9% growth recorded in the comparable period last year, while analyst estimates have remained largely unchanged. Bull Case Could Change Following Earnings
• Neutral Sentiment: Intuitive plans to extend instrument life in 2027, potentially lowering procedure costs and broadening adoption of robotic surgery. However, management expects to trade some near-term revenue per procedure for longer-term utilization and market expansion. Why ISRG Is Lowering Instrument Costs
• Negative Sentiment: The primary risk is that moderating revenue growth, evolving procedure mix and Intuitive’s premium valuation could make the stock more sensitive to any earnings or outlook disappointment.

Intuitive Surgical Trading Up 0.8%

Shares of ISRG traded up $3.42 during trading hours on Tuesday, hitting $436.60. The company had a trading volume of 937,028 shares, compared to its average volume of 2,402,207. The company has a market capitalization of $154.24 billion, a PE ratio of 50.07, a price-to-earnings-growth ratio of 3.22 and a beta of 1.46. Intuitive Surgical, Inc. has a one year low of $328.57 and a one year high of $603.88. The company’s fifty day moving average price is $392.22 and its two-hundred day moving average price is $409.24.

Wall Street Analyst Weigh In

ISRG has been the subject of a number of research reports. Citigroup lowered their price objective on shares of Intuitive Surgical from $590.00 to $500.00 and set a “buy” rating for the company in a research note on Friday, July 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Intuitive Surgical in a research report on Friday, August 14th. BNP Paribas Exane raised shares of Intuitive Surgical to an “outperform” rating in a research report on Tuesday, July 28th. Evercore set a $430.00 price target on shares of Intuitive Surgical in a report on Monday, July 6th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Intuitive Surgical in a research report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $498.83.

Intuitive Surgical Company Profile

Intuitive Surgical, Inc develops and manufactures robotic-assisted systems and related technologies for minimally invasive surgery. Its products are designed to help surgeons perform procedures through small incisions while providing enhanced visualization, precision and control. The company’s primary platform is the da Vinci Surgical System, which is used across a range of specialties, including urology, gynecology, general surgery, cardiothoracic surgery and other procedures.

The company also offers the Ion endoluminal system, which is designed to support minimally invasive lung biopsy procedures.