Glenmede Trust Co. NA Has $25.14 Million Stake in Intuitive Surgical, Inc. $ISRG

Glenmede Trust Co. NA reduced its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 10.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,523 shares of the medical equipment provider’s stock after selling 6,125 shares during the period. Glenmede Trust Co. NA’s holdings in Intuitive Surgical were worth $25,135,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Newbridge Financial Services Group Inc. lifted its stake in shares of Intuitive Surgical by 300.0% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 33 shares in the last quarter. Main Street Group LTD acquired a new position in shares of Intuitive Surgical during the first quarter valued at about $30,000. Laurel Wealth Advisors LLC bought a new stake in shares of Intuitive Surgical during the fourth quarter worth about $31,000. Vermillion Wealth Management Inc. increased its position in shares of Intuitive Surgical by 58.1% during the first quarter. Vermillion Wealth Management Inc. now owns 68 shares of the medical equipment provider’s stock worth $31,000 after acquiring an additional 25 shares in the last quarter. Finally, Turning Point Benefit Group Inc. raised its holdings in shares of 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 acquiring an additional 50 shares during the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.

Intuitive Surgical Trading Up 0.1%

ISRG stock opened at $353.33 on Friday. The stock’s fifty day simple moving average is $398.27 and its two-hundred day simple moving average is $451.98. Intuitive Surgical, Inc. has a 1-year low of $328.57 and a 1-year high of $603.88. 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 (NASDAQ:ISRG) last announced its earnings results on Thursday, July 16th. The medical equipment provider reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.32. The firm had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.83 billion. Intuitive Surgical had a return on equity of 16.91% and a net margin of 28.45%.The business’s revenue was up 18.4% compared to the same quarter last year. During the same period last year, the firm posted $1.81 EPS. As a group, analysts forecast that Intuitive Surgical, Inc. will post 8.87 earnings per share for the current fiscal year.

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

Insider Activity

In other news, 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 completion of the transaction, the executive vice president directly owned 5,720 shares of the company’s stock, valued at $2,426,080.80. This represents a 6.54% decrease in their position. The transaction 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, SVP Iman Jeddi sold 5,625 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $420.55, for a total transaction of $2,365,593.75. Following the sale, the senior vice president owned 6,463 shares of the company’s stock, valued at approximately $2,718,014.65. The trade was 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. In the last ninety days, insiders sold 6,634 shares of company stock worth $2,796,795. Insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ISRG. Piper Sandler set a $357.44 price target on shares of Intuitive Surgical in a research report on Monday, July 27th. Mizuho set a $500.00 price objective on Intuitive Surgical and gave the stock a “neutral” rating in a report on Wednesday, July 15th. 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. Royal Bank Of Canada dropped their target price on Intuitive Surgical from $650.00 to $600.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. Finally, The Goldman Sachs Group set a $558.00 target price on Intuitive Surgical in a research report on Wednesday, May 27th. Twenty investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $509.02.

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.