Y Intercept Hong Kong Ltd Invests $14.73 Million in Intuitive Surgical, Inc. $ISRG

Y Intercept Hong Kong Ltd acquired a new position in Intuitive Surgical, Inc. (NASDAQ:ISRG) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 31,951 shares of the medical equipment provider’s stock, valued at approximately $14,729,000.

A number of other hedge funds also recently bought and sold shares of ISRG. State Street Corp lifted its holdings in Intuitive Surgical by 1.0% in the fourth quarter. State Street Corp now owns 15,701,591 shares of the medical equipment provider’s stock valued at $8,892,753,000 after acquiring an additional 162,264 shares during the period. Capital World Investors grew its stake in shares of 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 valued at $4,449,491,000 after purchasing an additional 127,526 shares during the period. Norges Bank purchased a new stake in shares of Intuitive Surgical during the 4th quarter valued at about $2,856,987,000. Invesco Ltd. increased its position in shares of Intuitive Surgical by 17.4% during the 4th quarter. Invesco Ltd. now owns 4,128,735 shares of the medical equipment provider’s stock valued at $2,338,350,000 after purchasing an additional 611,268 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Intuitive Surgical by 9.4% during the 4th quarter. Wellington Management Group LLP now owns 3,445,880 shares of the medical equipment provider’s stock valued at $1,951,609,000 after purchasing an additional 294,651 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Insider Transactions at Intuitive Surgical

In related news, EVP Gary Loeb sold 400 shares of the business’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total value of $169,656.00. Following the sale, the executive vice president directly owned 5,720 shares in the company, valued at approximately $2,426,080.80. The trade was a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Iman Jeddi sold 5,625 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $2,718,014.65. This trade represents a 46.53% 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 have sold 7,169 shares of company stock valued at $3,059,135. 0.60% of the stock is currently owned by insiders.

Intuitive Surgical Stock Performance

Shares of ISRG stock opened at $426.01 on Friday. Intuitive Surgical, Inc. has a 52-week low of $396.68 and a 52-week high of $603.88. The stock has a fifty day simple moving average of $428.43 and a two-hundred day simple moving average of $480.00. The firm has a market capitalization of $150.88 billion, a PE ratio of 51.64, a PEG ratio of 3.27 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.42. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.62 billion. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The firm’s quarterly revenue was up 23.0% on a year-over-year basis. During the same quarter last year, the company earned $1.81 EPS. On average, sell-side analysts forecast that Intuitive Surgical, Inc. will post 8.57 EPS for the current fiscal year.

Intuitive Surgical News Roundup

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

• Positive Sentiment: Analysts say Intuitive Surgical has a strong earnings-surprise track record and could beat estimates again in its upcoming report. Why Intuitive Surgical (ISRG) Could Beat Earnings Estimates Again
• Positive Sentiment: Investors appear to be buying ahead of the company’s July 16 earnings call, likely betting on continued procedure growth, da Vinci 5 adoption, and another solid update. Intuitive Surgical Gains as Investors Appear to Position for Mid-July Earnings
• Neutral Sentiment: Commentary from an investor letter and market recaps referenced Intuitive Surgical’s recent trading weakness and below-consensus forecast concerns, but these pieces did not add a fresh operational catalyst. Intuitive Surgical (ISRG) Fell on Below-Consensus Forecast
• Negative Sentiment: Some recent coverage notes ongoing pressure from regulatory scrutiny over instrument reuse and competitive concerns in China, which may be weighing on sentiment despite the company’s strong fundamentals. Intuitive Surgical (ISRG) Fell on Below-Consensus Forecast

Wall Street Analyst Weigh In

ISRG has been the topic of a number of research reports. Robert W. Baird raised their price objective on shares of Intuitive Surgical from $575.00 to $610.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Mizuho set a $525.00 target price on shares of Intuitive Surgical and gave the company a “neutral” rating in a report on Monday, April 13th. Barclays set a $651.00 price target on shares of Intuitive Surgical and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. HSBC dropped their price target on shares of Intuitive Surgical from $653.00 to $604.00 and set a “buy” rating on the stock in a research note on Wednesday, April 22nd. Finally, Truist Financial cut their price objective on shares of Intuitive Surgical from $650.00 to $580.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Nineteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $573.42.

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.