Glenmede Trust Co. NA Decreases Stake in Intuitive Surgical, Inc. $ISRG

Glenmede Trust Co. NA reduced its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 10.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 54,523 shares of the medical equipment provider’s stock after selling 6,125 shares during the period. Glenmede Trust Co. NA’s holdings in Intuitive Surgical were worth $25,135,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Prosperity Consulting Group LLC increased its stake in shares of Intuitive Surgical by 0.5% in the third quarter. Prosperity Consulting Group LLC now owns 4,033 shares of the medical equipment provider’s stock worth $1,804,000 after purchasing an additional 19 shares in the last quarter. Sunburst Financial Group LLC lifted its stake in shares of Intuitive Surgical by 4.3% during the 4th quarter. Sunburst Financial Group LLC now owns 485 shares of the medical equipment provider’s stock valued at $275,000 after buying an additional 20 shares in the last quarter. WoodTrust Financial Corp lifted its stake in shares of Intuitive Surgical by 0.5% during the 4th 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 in the last quarter. North Star Investment Management Corp. boosted its holdings in Intuitive Surgical by 8.5% in the 4th quarter. North Star Investment Management Corp. now owns 269 shares of the medical equipment provider’s stock worth $152,000 after buying an additional 21 shares during the period. Finally, Cornerstone Planning Group LLC boosted its holdings in Intuitive Surgical by 11.5% in the 4th quarter. Cornerstone Planning Group LLC now owns 203 shares of the medical equipment provider’s stock worth $106,000 after buying an additional 21 shares during the period. Institutional investors own 83.64% of the company’s stock.

Insider Buying and Selling at Intuitive Surgical

In related news, SVP Iman Jeddi sold 5,625 shares of the 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 owned 6,463 shares in the company, 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, EVP Gary Loeb sold 400 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total value of $169,656.00. Following the completion of the sale, the executive vice president owned 5,720 shares in the company, valued at $2,426,080.80. This trade represents a 6.54% 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. In the last ninety days, insiders sold 6,634 shares of company stock worth $2,796,795. Insiders own 0.60% of the company’s stock.

Intuitive Surgical Trading Up 0.1%

Intuitive Surgical stock opened at $353.33 on Friday. The firm’s 50 day simple moving average is $398.27 and its 200 day simple moving average is $451.98. The firm has a market capitalization of $124.82 billion, a PE ratio of 40.47, a price-to-earnings-growth ratio of 2.55 and a beta of 1.46. Intuitive Surgical, Inc. has a 1-year low of $328.57 and a 1-year high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last posted 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. Intuitive Surgical had a net margin of 28.45% and a return on equity of 16.91%. The business had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.83 billion. During the same period in the prior year, the company posted $1.81 EPS. The business’s revenue for the quarter was up 18.4% compared to the same quarter last year. Research analysts forecast that Intuitive Surgical, Inc. will post 8.87 earnings per share for the current year.

Wall Street Analyst Weigh In

ISRG has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Intuitive Surgical from $550.00 to $450.00 and set an “overweight” rating on the stock in a report on Friday, July 17th. Barclays set a $651.00 price target on Intuitive Surgical and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Sanford C. Bernstein reduced their price target on Intuitive Surgical from $750.00 to $685.00 and set an “outperform” rating for the company in a research report on Friday, July 17th. Mizuho set a $500.00 price target on Intuitive Surgical and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Finally, HSBC lowered Intuitive Surgical from a “buy” rating to a “hold” rating and set a $391.00 price objective on the stock. in a research note on Thursday. Twenty investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $509.02.

Key Headlines Impacting Intuitive Surgical

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

• Positive Sentiment: UBS upgraded ISRG, arguing that the recent selloff was excessive. The firm’s revised price target of $475 implies meaningful upside and may be supporting renewed investor interest. UBS upgrades Intuitive Surgical
• Positive Sentiment: Intuitive Surgical’s expansion beyond urology into general surgery and other specialties could create additional procedure growth and increase long-term demand for da Vinci systems, instruments and related services. Robotic surgery expansion beyond urology
• Positive Sentiment: Analyst sentiment remains broadly favorable, with the brokerage consensus at “Moderate Buy.” The company’s recurring revenue from instruments and accessories, expanding installed base and durable robotic-surgery demand remain key bullish arguments. Brokerage consensus on Intuitive Surgical
• Neutral Sentiment: Zacks highlighted the unusually high level of investor interest in ISRG, but the article did not provide a new earnings or guidance catalyst. Zacks investor attention report
• Neutral Sentiment: An executive’s small stock sales were made under a pre-arranged Rule 10b5-1 plan and reduced his holdings by roughly 2%, making them unlikely to materially alter the investment case. Intuitive Surgical insider sale
• Negative Sentiment: HSBC lowered Intuitive Surgical from Buy to Hold and set a $391 price target. Although that target remains above recent trading levels, the downgrade signals reduced confidence in the stock’s near-term upside. HSBC downgrades Intuitive Surgical
• Negative Sentiment: Despite a quarterly revenue and earnings beat, investors remain concerned about softer U.S. procedure growth, deferred care and the premium valuation. Those worries have contributed to continued pressure in the shares. Intuitive Surgical post-earnings selloff

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.