Swedbank AB Sells 261,618 Shares of Intuitive Surgical, Inc. $ISRG

Swedbank AB reduced its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 31.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 580,264 shares of the medical equipment provider’s stock after selling 261,618 shares during the quarter. Swedbank AB’s holdings in Intuitive Surgical were worth $267,496,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of ISRG. Draper Asset Management LLC grew its position in Intuitive Surgical by 41.9% in the 4th quarter. Draper Asset Management LLC now owns 5,029 shares of the medical equipment provider’s stock worth $2,848,000 after purchasing an additional 1,485 shares during the period. Deutsche Bank AG lifted its holdings in shares of Intuitive Surgical by 9.6% during the 4th quarter. Deutsche Bank AG now owns 1,522,191 shares of the medical equipment provider’s stock valued at $862,108,000 after buying an additional 132,966 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in shares of Intuitive Surgical by 29.3% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 71,077 shares of the medical equipment provider’s stock worth $40,255,000 after buying an additional 16,119 shares during the last quarter. Procyon Advisors LLC boosted its stake in shares of Intuitive Surgical by 787.8% in the 4th quarter. Procyon Advisors LLC now owns 4,794 shares of the medical equipment provider’s stock worth $2,715,000 after buying an additional 4,254 shares during the last quarter. Finally, Robinhood Asset Management LLC bought a new stake in shares of Intuitive Surgical in the fourth quarter worth $6,478,000. 83.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ISRG shares. Raymond James Financial lowered their target price on Intuitive Surgical from $615.00 to $577.00 and set an “outperform” rating on the stock in a report on Wednesday, April 22nd. Mizuho set a $525.00 price target on Intuitive Surgical and gave the company a “neutral” rating in a research note on Monday, April 13th. BTIG Research reaffirmed a “buy” rating and set a $574.00 price target on shares of Intuitive Surgical in a research report on Wednesday, April 22nd. TD Cowen lowered their price objective on shares of Intuitive Surgical from $660.00 to $585.00 and set a “buy” rating on the stock in a research note on Wednesday, April 22nd. Finally, Robert W. Baird raised their price objective on shares of Intuitive Surgical from $575.00 to $610.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Nineteen research 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’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $571.33.

Intuitive Surgical Stock Down 1.3%

ISRG traded down $5.54 during midday trading on Tuesday, reaching $427.29. The company had a trading volume of 788,692 shares, compared to its average volume of 2,165,761. The business has a 50-day moving average of $427.27 and a two-hundred day moving average of $479.06. Intuitive Surgical, Inc. has a 1 year low of $396.68 and a 1 year high of $603.88. The company has a market cap of $151.33 billion, a P/E ratio of 51.90, a P/E/G ratio of 3.47 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG) last posted 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 firm had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.62 billion. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The business’s quarterly revenue was up 23.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.81 EPS. On average, equities research analysts predict that Intuitive Surgical, Inc. will post 8.57 EPS for the current year.

Insiders Place Their Bets

In other Intuitive Surgical news, Director Amy L. Ladd sold 119 shares of the company’s stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $463.50, for a total value of $55,156.50. Following the completion of the transaction, the director directly owned 120 shares in the company, valued at $55,620. This represents a 49.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 on Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total transaction of $169,656.00. Following the completion of the sale, the executive vice president directly owned 5,720 shares of the company’s stock, valued at approximately $2,426,080.80. This trade represents a 6.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 7,169 shares of company stock worth $3,059,135. Company insiders own 0.60% of the company’s stock.

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.