Handelsbanken Fonder AB Sells 31,273 Shares of Intuitive Surgical, Inc. $ISRG

Handelsbanken Fonder AB lowered its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 8.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 319,944 shares of the medical equipment provider’s stock after selling 31,273 shares during the period. Handelsbanken Fonder AB’s holdings in Intuitive Surgical were worth $127,235,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Draper Asset Management LLC lifted its stake in Intuitive Surgical by 41.9% in the fourth 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 last quarter. Deutsche Bank AG boosted its position in Intuitive Surgical by 9.6% during the fourth 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. grew its stake in shares of Intuitive Surgical by 29.3% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 71,077 shares of the medical equipment provider’s stock valued at $40,255,000 after buying an additional 16,119 shares during the last quarter. KBC Group NV grew its stake in shares of Intuitive Surgical by 4.7% during the fourth quarter. KBC Group NV now owns 420,593 shares of the medical equipment provider’s stock valued at $238,207,000 after buying an additional 18,697 shares during the last quarter. Finally, Jag Capital Management LLC purchased a new position in shares of Intuitive Surgical in the fourth quarter worth about $18,771,000. 83.64% of the stock is currently owned by institutional investors.

Insider Activity at Intuitive Surgical

In related news, SVP Iman Jeddi sold 5,625 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $420.55, for a total value of $2,365,593.75. Following the sale, the senior vice president directly owned 6,463 shares of the company’s stock, valued at $2,718,014.65. This represents a 46.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 Monday, August 10th. The stock was sold at an average price of $379.00, for a total value of $151,600.00. Following the completion of the transaction, the executive vice president owned 5,320 shares of the company’s stock, valued at approximately $2,016,280. This trade represents a 6.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,634 shares of company stock worth $2,769,615 over the last 90 days. 0.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wall Street Zen raised Intuitive Surgical from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Barclays set a $651.00 price target on Intuitive Surgical and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. Royal Bank Of Canada decreased their price target on Intuitive Surgical from $650.00 to $600.00 and set an “outperform” rating on the stock in a research note on Monday, July 13th. Truist Financial lowered their price objective on Intuitive Surgical from $580.00 to $510.00 and set a “buy” rating for the company in a research report on Thursday, July 16th. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $487.00 price objective (down from $654.00) on shares of Intuitive Surgical in a research note on Friday, July 17th. Twenty 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $509.02.

Intuitive Surgical Stock Performance

Intuitive Surgical stock opened at $393.38 on Tuesday. The stock’s 50 day simple moving average is $392.49 and its two-hundred day simple moving average is $444.21. The stock has a market cap of $138.97 billion, a price-to-earnings ratio of 45.06, a PEG ratio of 2.74 and a beta of 1.47. Intuitive Surgical, Inc. has a fifty-two week low of $328.57 and a fifty-two week high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last announced its earnings results on Thursday, July 16th. The medical equipment provider reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.32. The firm had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.83 billion. Intuitive Surgical had a return on equity of 16.91% and a net margin of 28.45%.The business’s revenue was up 18.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.81 EPS. On average, analysts predict that Intuitive Surgical, Inc. will post 8.87 earnings per share 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.