Mediolanum International Funds Ltd Reduces Holdings in Intuitive Surgical, Inc. $ISRG

Mediolanum International Funds Ltd lowered its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 5.9% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 49,260 shares of the medical equipment provider’s stock after selling 3,103 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Intuitive Surgical were worth $22,304,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Holos Integrated Wealth LLC acquired a new stake in shares of Intuitive Surgical during the fourth quarter valued at about $25,000. 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 worth $25,000 after acquiring an additional 33 shares in the last quarter. Olistico Wealth LLC acquired a new position in shares of Intuitive Surgical in the fourth quarter worth about $28,000. Main Street Group LTD purchased a new position in Intuitive Surgical in the first quarter valued at about $30,000. Finally, Laurel Wealth Advisors LLC purchased a new position in Intuitive Surgical in the fourth quarter valued at about $31,000. Institutional investors and hedge funds own 83.64% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Barclays set a $651.00 price objective on Intuitive Surgical and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Sanford C. Bernstein decreased their price target on shares of Intuitive Surgical from $750.00 to $685.00 and set an “outperform” rating for the company in a research report on Friday. HSBC dropped their price target on shares of Intuitive Surgical from $653.00 to $604.00 and set a “buy” rating for the company in a research note on Wednesday, April 22nd. The Goldman Sachs Group set a $558.00 price target on shares of Intuitive Surgical in a report on Wednesday, May 27th. Finally, Evercore set a $430.00 price objective on shares of Intuitive Surgical in a research note on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Intuitive Surgical has an average rating of “Moderate Buy” and a consensus price target of $523.46.

Insider Buying and Selling

In other Intuitive Surgical news, EVP Gary Loeb sold 400 shares of Intuitive Surgical stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $424.14, for a total value of $169,656.00. Following the completion of the transaction, the executive vice president owned 5,720 shares of the company’s stock, valued at $2,426,080.80. The trade was a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Iman Jeddi sold 5,625 shares of the business’s stock in a transaction on Monday, June 1st. The shares were 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. Insiders have sold 7,169 shares of company stock worth $3,059,135 over the last ninety days. 0.60% of the stock is owned by insiders.

Intuitive Surgical News Roundup

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

• Positive Sentiment: Intuitive Surgical reported stronger-than-expected Q2 revenue and earnings, helped by solid demand for its da Vinci robotic surgery systems and continued adoption of its products. Reuters article
• Positive Sentiment: The company still reported healthy procedure growth overall, with worldwide procedures rising and placements of robotic systems remaining strong, which supports the long-term investment case. Yahoo Finance article
• Neutral Sentiment: Several analysts lowered price targets after the report, but most kept bullish ratings such as overweight, buy, or outperform, suggesting Wall Street still sees meaningful upside despite the near-term pullback. Benzinga article
• Negative Sentiment: Management did not raise its forecast for procedure growth, and investors reacted badly to slower U.S. procedure growth and a cautious full-year outlook. Benzinga article
• Negative Sentiment: Reuters also noted concerns that changes to some insurance plans could reduce demand, adding to worries about slower U.S. growth and a softer near-term procedure trajectory. Reuters article

Intuitive Surgical Stock Down 14.1%

Shares of NASDAQ ISRG opened at $345.42 on Friday. The stock’s 50 day moving average price is $415.28 and its two-hundred day moving average price is $467.88. Intuitive Surgical, Inc. has a 52-week low of $344.55 and a 52-week high of $603.88. The stock has a market capitalization of $122.33 billion, a P/E ratio of 39.57, a PEG ratio of 2.81 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 EPS for the quarter, topping the consensus estimate of $2.08 by $0.42. Intuitive Surgical had a return on equity of 17.09% and a net margin of 28.45%.The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same quarter last year, the firm earned $1.81 EPS. The business’s revenue was up 23.0% on a year-over-year basis. On average, analysts anticipate that Intuitive Surgical, Inc. will post 8.62 EPS for the current year.

Intuitive Surgical Company 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.