Geode Capital Management LLC Trims Stake in Intuitive Surgical, Inc. $ISRG

Geode Capital Management LLC trimmed its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 0.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,225,691 shares of the medical equipment provider’s stock after selling 47,985 shares during the quarter. Geode Capital Management LLC’s holdings in Intuitive Surgical were worth $4,638,187,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ISRG. Northwestern Mutual Wealth Management Co. grew its position in Intuitive Surgical by 1,043.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,342,121 shares of the medical equipment provider’s stock worth $760,124,000 after buying an additional 1,224,734 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Intuitive Surgical by 106.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,533,771 shares of the medical equipment provider’s stock worth $868,667,000 after buying an additional 791,516 shares in the last quarter. Amundi boosted its holdings in shares of Intuitive Surgical by 29.7% in the 3rd quarter. Amundi now owns 3,227,472 shares of the medical equipment provider’s stock worth $1,451,362,000 after purchasing an additional 739,444 shares in the last quarter. Sands Capital Management LLC boosted its holdings in shares of Intuitive Surgical by 77.0% in the 3rd quarter. Sands Capital Management LLC now owns 1,341,109 shares of the medical equipment provider’s stock worth $599,784,000 after purchasing an additional 583,539 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Intuitive Surgical by 41.3% in the 3rd quarter. Victory Capital Management Inc. now owns 1,941,310 shares of the medical equipment provider’s stock worth $868,212,000 after purchasing an additional 567,483 shares in the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ISRG shares. Wall Street Zen cut Intuitive Surgical from a “buy” rating to a “hold” rating in a report on Sunday. Mizuho set a $525.00 price objective on Intuitive Surgical and gave the stock a “neutral” rating in a report on Monday, April 13th. Truist Financial cut their price objective on Intuitive Surgical from $650.00 to $580.00 and set a “buy” rating for the company in a report on Wednesday, April 15th. Raymond James Financial cut their price objective on Intuitive Surgical from $615.00 to $577.00 and set an “outperform” rating for the company in a report on Wednesday, April 22nd. Finally, Citigroup upgraded Intuitive Surgical from a “neutral” rating to a “buy” rating and set a $590.00 price objective for the company in a report on Wednesday, March 11th. Nineteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Intuitive Surgical currently has an average rating of “Moderate Buy” and a consensus price target of $576.71.

Insider Activity at Intuitive Surgical

In related news, EVP Gary Loeb sold 400 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $446.95, for a total transaction of $178,780.00. Following the completion of the sale, the executive vice president directly owned 6,120 shares in the company, valued at $2,735,334. This represents a 6.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark Brosius sold 645 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $485.01, for a total value of $312,831.45. Following the sale, the senior vice president owned 1,613 shares of the company’s stock, valued at $782,321.13. This represents a 28.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 5,701 shares of company stock worth $2,783,807 over the last three months. Corporate insiders own 0.60% of the company’s stock.

Intuitive Surgical Price Performance

Shares of ISRG stock opened at $418.55 on Thursday. The stock has a market capitalization of $148.23 billion, a PE ratio of 50.73, a P/E/G ratio of 3.49 and a beta of 1.51. Intuitive Surgical, Inc. has a 1-year low of $414.30 and a 1-year high of $603.88. The business has a 50-day moving average of $455.79 and a 200 day moving average of $507.97.

Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.42. The company had revenue of $2.77 billion during 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%.Intuitive Surgical’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.81 EPS. Analysts anticipate that Intuitive Surgical, Inc. will post 8.57 EPS for the current 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.