E. Ohman J or Asset Management AB Trims Stock Position in Intuitive Surgical, Inc. $ISRG

E. Ohman J or Asset Management AB trimmed its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 8.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,590 shares of the medical equipment provider’s stock after selling 2,090 shares during the period. E. Ohman J or Asset Management AB’s holdings in Intuitive Surgical were worth $9,953,000 as of its most recent SEC filing.

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

Intuitive Surgical Price Performance

Shares of NASDAQ ISRG opened at $406.78 on Friday. Intuitive Surgical, Inc. has a 52-week low of $396.68 and a 52-week high of $603.88. The firm has a fifty day moving average of $438.43 and a 200-day moving average of $490.46. The stock has a market capitalization of $144.07 billion, a PE ratio of 49.31, a P/E/G ratio of 3.31 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 for the quarter, topping the consensus estimate of $2.08 by $0.42. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same period last year, the company posted $1.81 EPS. The business’s quarterly revenue was up 23.0% on a year-over-year basis. Equities research analysts expect that Intuitive Surgical, Inc. will post 8.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Iman Jeddi sold 5,625 shares of the firm’s stock in a transaction dated 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 transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 119 shares of Intuitive Surgical stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $463.50, for a total value of $55,156.50. Following the completion of the transaction, the director directly owned 120 shares in the company, valued at $55,620. This 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 sold 7,169 shares of company stock worth $3,059,135 over the last three months. 0.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have commented on ISRG. Leerink Partners lowered their target price on shares of Intuitive Surgical from $622.00 to $573.00 and set an “outperform” rating for the company in a research note on Wednesday, April 22nd. Piper Sandler reissued an “overweight” rating and set a $580.00 price target on shares of Intuitive Surgical in a research note on Tuesday, June 2nd. Bank of America decreased their price objective on Intuitive Surgical from $520.00 to $515.00 in a report on Friday, June 12th. Deutsche Bank Aktiengesellschaft lowered their price objective on Intuitive Surgical from $440.00 to $366.00 and set a “sell” rating for the company in a research report on Tuesday, June 2nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Intuitive Surgical in a research report on Tuesday, May 19th. Nineteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.