Manning & Napier Advisors LLC Cuts Stock Holdings in Intuitive Surgical, Inc. $ISRG

Manning & Napier Advisors LLC cut its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 75.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,180 shares of the medical equipment provider’s stock after selling 3,636 shares during the period. Manning & Napier Advisors LLC’s holdings in Intuitive Surgical were worth $544,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ISRG. Norges Bank acquired a new stake in Intuitive Surgical in the fourth quarter valued at approximately $2,856,987,000. J. Stern & Co. LLP raised its holdings in shares of Intuitive Surgical by 18,504.6% in the 4th quarter. J. Stern & Co. LLP now owns 2,127,248 shares of the medical equipment provider’s stock valued at $1,204,788,000 after purchasing an additional 2,115,814 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Intuitive Surgical by 1,043.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,342,121 shares of the medical equipment provider’s stock worth $760,124,000 after buying an additional 1,224,734 shares during the last quarter. Polen Capital Management LLC acquired a new position in shares of Intuitive Surgical during the 4th quarter worth about $477,225,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Intuitive Surgical by 106.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,533,771 shares of the medical equipment provider’s stock valued at $868,667,000 after acquiring an additional 791,516 shares during the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ISRG shares. HSBC cut their price objective on shares of Intuitive Surgical from $653.00 to $604.00 and set a “buy” rating on the stock in a report on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft dropped their price objective on Intuitive Surgical from $440.00 to $366.00 and set a “sell” rating on the stock in a report on Tuesday, June 2nd. Piper Sandler reiterated an “overweight” rating and set a $580.00 target price on shares of Intuitive Surgical in a research report on Tuesday, June 2nd. Bank of America reduced their target price on Intuitive Surgical from $520.00 to $515.00 in a report on Friday, June 12th. Finally, BTIG Research restated a “buy” rating and set a $574.00 price target on shares of Intuitive Surgical in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $569.20.

Insider Activity

In related news, SVP Iman Jeddi sold 5,625 shares of the firm’s 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 sale, the senior vice president 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 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, Director Amy L. Ladd sold 119 shares of the stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $463.50, for a total value of $55,156.50. Following the transaction, the director directly owned 120 shares of the company’s stock, valued at approximately $55,620. This trade represents a 49.79% 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. Insiders have sold a total of 7,169 shares of company stock valued at $3,059,135 over the last quarter. Corporate insiders own 0.60% of the company’s stock.

Key Stories Impacting Intuitive Surgical

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

• Positive Sentiment: BMO Capital Markets upgraded Intuitive Surgical to strong-buy, which can help sentiment by signaling confidence in the stock’s long-term outlook. Zacks.com
• Positive Sentiment: Investor interest remains supported by expectations that July 16 results will show higher sales and EPS, with strong adoption of the da Vinci 5 surgical robot seen as a key growth driver. ISRG to Report Q2 Results Next Week: Should You Buy the Stock Now?
• Neutral Sentiment: Evercore ISI cut its price target to $430 from $480 while keeping an In Line rating, suggesting the company still has growth potential but investors may be more cautious on near-term upside. Is Intuitive Surgical (ISRG) One Of MedTech’s Best AI Stock To Buy?
• Neutral Sentiment: Options traders are pricing in a wide range of outcomes for ISRG ahead of earnings, reflecting uncertainty around how the report and guidance could move the stock. Just How Much Risk Is Built Into ISRG Stock?
• Negative Sentiment: Investors are weighing possible margin pressure, which could limit enthusiasm even if revenue and earnings grow next quarter. ISRG to Report Q2 Results Next Week: Should You Buy the Stock Now?

Intuitive Surgical Stock Performance

Shares of ISRG stock opened at $406.78 on Monday. The company has a market capitalization of $144.07 billion, a P/E ratio of 49.31, a price-to-earnings-growth ratio of 3.31 and a beta of 1.46. The business’s 50 day moving average is $422.09 and its two-hundred day moving average is $473.91. Intuitive Surgical, Inc. has a twelve month low of $396.68 and a twelve month 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 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 analysts’ expectations of $2.62 billion. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. Intuitive Surgical’s revenue was up 23.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.81 EPS. As a group, equities analysts predict that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current fiscal 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.