Terra Nova Asset Management LLC Lowers Stock Holdings in Intuitive Surgical, Inc. $ISRG

Terra Nova Asset Management LLC lowered its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 88.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 497 shares of the medical equipment provider’s stock after selling 3,855 shares during the period. Terra Nova Asset Management LLC’s holdings in Intuitive Surgical were worth $229,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. State Street Corp grew its position in Intuitive Surgical by 1.0% in the 4th quarter. State Street Corp now owns 15,701,591 shares of the medical equipment provider’s stock valued at $8,892,753,000 after buying an additional 162,264 shares during the last quarter. Capital World Investors raised its position in Intuitive Surgical by 1.7% during the 4th quarter. Capital World Investors now owns 7,856,018 shares of the medical equipment provider’s stock worth $4,449,491,000 after buying an additional 127,526 shares during the last quarter. Norges Bank purchased a new position in Intuitive Surgical during the 4th quarter worth $2,856,987,000. Invesco Ltd. raised its position in Intuitive Surgical by 17.4% during the 4th quarter. Invesco Ltd. now owns 4,128,735 shares of the medical equipment provider’s stock worth $2,338,350,000 after buying an additional 611,268 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its stake in shares of Intuitive Surgical by 1.1% in the 3rd quarter. Fisher Asset Management LLC now owns 3,889,439 shares of the medical equipment provider’s stock worth $1,739,475,000 after acquiring an additional 40,702 shares during the period. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Price Performance

NASDAQ:ISRG opened at $406.78 on Monday. The firm’s fifty day simple moving average is $438.43 and its 200-day simple moving average is $489.92. The stock has a market cap of $144.07 billion, a PE ratio of 49.31, a price-to-earnings-growth ratio of 3.31 and a beta of 1.46. Intuitive Surgical, Inc. has a fifty-two week low of $396.68 and a fifty-two week high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 EPS for the quarter, beating the consensus estimate of $2.08 by $0.42. The firm had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.62 billion. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The business’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.81 earnings per share. Equities analysts anticipate that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

ISRG has been the topic of several analyst reports. Barclays set a $651.00 target price on shares of Intuitive Surgical and gave the company an “overweight” rating in a report on Thursday, April 23rd. BTIG Research restated a “buy” rating and issued a $574.00 price objective on shares of Intuitive Surgical in a research report on Wednesday, April 22nd. Raymond James Financial lowered their price objective on Intuitive Surgical from $615.00 to $577.00 and set an “outperform” rating on the stock in a report on Wednesday, April 22nd. The Goldman Sachs Group set a $558.00 target price on Intuitive Surgical in a research report on Wednesday, May 27th. Finally, Evercore cut their target price on Intuitive Surgical from $550.00 to $480.00 and set a “neutral” rating for the company in a research note on Monday, April 6th. Nineteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $573.42.

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, SVP Iman Jeddi sold 5,625 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $420.55, for a total value of $2,365,593.75. Following the completion of the transaction, the senior vice president directly owned 6,463 shares of the company’s stock, valued at approximately $2,718,014.65. This trade represents a 46.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 500 shares of Intuitive Surgical stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $473.46, for a total transaction of $236,730.00. Following the sale, the director owned 239 shares of the company’s stock, valued at approximately $113,156.94. The trade was a 67.66% 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. Over the last three months, insiders sold 7,169 shares of company stock valued at $3,059,135. Corporate insiders own 0.60% of the company’s stock.

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.