Intuitive Surgical, Inc. $ISRG Shares Acquired by Tema ETFs LLC

Tema ETFs LLC increased its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 28.8% in the second quarter, HoldingsChannel reports. The firm owned 9,704 shares of the medical equipment provider’s stock after buying an additional 2,170 shares during the quarter. Tema ETFs LLC’s holdings in Intuitive Surgical were worth $3,859,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ISRG. Prosperity Consulting Group LLC grew its holdings in shares of Intuitive Surgical by 0.5% during the third quarter. Prosperity Consulting Group LLC now owns 4,033 shares of the medical equipment provider’s stock worth $1,804,000 after buying an additional 19 shares in the last quarter. WoodTrust Financial Corp lifted its stake in shares of Intuitive Surgical by 0.5% during the fourth quarter. WoodTrust Financial Corp now owns 4,180 shares of the medical equipment provider’s stock valued at $2,367,000 after buying an additional 20 shares during the period. North Star Investment Management Corp. lifted its stake in shares of Intuitive Surgical by 8.5% during the fourth quarter. North Star Investment Management Corp. now owns 269 shares of the medical equipment provider’s stock valued at $152,000 after buying an additional 21 shares during the period. Cornerstone Planning Group LLC boosted its position in Intuitive Surgical by 11.5% during the fourth quarter. Cornerstone Planning Group LLC now owns 203 shares of the medical equipment provider’s stock worth $106,000 after acquiring an additional 21 shares during the last quarter. Finally, Valeo Financial Advisors LLC boosted its position in Intuitive Surgical by 0.4% during the fourth quarter. Valeo Financial Advisors LLC now owns 4,941 shares of the medical equipment provider’s stock worth $2,798,000 after acquiring an additional 21 shares during the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Intuitive Surgical

In other news, EVP Gary Loeb sold 400 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was 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 in the company, valued at approximately $2,016,280. The trade was a 6.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 72 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $393.10, for a total transaction of $28,303.20. Following the sale, the director directly owned 179 shares of the company’s stock, valued at approximately $70,364.90. This trade represents a 28.69% decrease in their position. 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. Over the last ninety days, insiders have sold 17,106 shares of company stock valued at $6,949,518. Insiders own 0.60% of the company’s stock.

Key Headlines Impacting Intuitive Surgical

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

• Positive Sentiment: Oppenheimer upgraded ISRG to Outperform and set a $500 price target, citing the company’s ability to “crowd out” competitors. The firm believes Medtronic’s Hugo and Intuitive’s Ottava systems pose limited near-term threats to the da Vinci franchise because of workflow, operating-room real-estate and adoption challenges. Oppenheimer upgrade report
• Positive Sentiment: Bernstein reiterated its Buy rating and maintained a $685 price target, pointing to progress on Intuitive’s next-generation gastrointestinal platform. Longer term, continued da Vinci 5 adoption, recurring instruments and service revenue, and expansion into additional procedures support the company’s growth outlook. Bernstein rating report
• Positive Sentiment: The ENCOMPASS post-market study is highlighting Intuitive’s opportunity in robotic-assisted lung biopsy. Progress in this clinical program could broaden use of the Ion platform and create additional recurring procedure-related revenue. ENCOMPASS trial report
• Neutral Sentiment: Intuitive’s second-quarter results were strong, with revenue up 18.4% to $2.89 billion and EPS of $2.80 versus the $2.48 consensus estimate. However, investors are focusing more on forward procedure growth than on the earnings beat.
• Negative Sentiment: U.S. procedure growth slowed in the second quarter. Analysts attributed some of the weakness to Affordable Care Act-related care deferrals, which could be temporary, but the issue raises near-term uncertainty around demand and revenue growth. U.S. procedure growth report
• Negative Sentiment: Insiders reported several sales, including Director Gary Guthart’s 10,000-share sale for approximately $4 million and smaller sales by Director Amy Ladd and EVP Gary Loeb. The trades were conducted under pre-arranged Rule 10b5-1 plans, reducing their value as a discretionary bearish signal, but they may weigh modestly on sentiment.

Wall Street Analyst Weigh In

ISRG has been the subject of several analyst reports. Truist Financial cut their price target on Intuitive Surgical from $580.00 to $510.00 and set a “buy” rating for the company in a report on Thursday, July 16th. Royal Bank Of Canada decreased their price objective on Intuitive Surgical from $650.00 to $600.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. Oppenheimer upgraded Intuitive Surgical from a “market perform” rating to an “outperform” rating and set a $500.00 target price on the stock in a research report on Wednesday. HSBC lowered Intuitive Surgical from a “buy” rating to a “hold” rating and set a $391.00 price target on the stock. in a research note on Thursday, July 30th. Finally, Barclays set a $651.00 price objective on shares of Intuitive Surgical and gave the company an “overweight” rating in a research note on Thursday, April 23rd. Twenty-two equities research 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $508.68.

Intuitive Surgical Stock Up 0.0%

ISRG stock opened at $401.27 on Thursday. The company has a market cap of $141.76 billion, a price-to-earnings ratio of 45.96, a PEG ratio of 2.90 and a beta of 1.46. The business has a fifty day simple moving average of $392.35 and a 200-day simple moving average of $442.47. Intuitive Surgical, Inc. has a 52 week low of $328.57 and a 52 week high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Thursday, July 16th. The medical equipment provider reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.32. Intuitive Surgical had a return on equity of 16.91% and a net margin of 28.45%.The firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.83 billion. During the same quarter last year, the firm earned $1.81 earnings per share. The firm’s revenue for the quarter was up 18.4% compared to the same quarter last year. As a group, analysts expect that Intuitive Surgical, Inc. will post 8.87 earnings per share 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.