Bridges Investment Management Inc. Sells 1,324 Shares of Intuitive Surgical, Inc. $ISRG

Bridges Investment Management Inc. lessened its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 169,622 shares of the medical equipment provider’s stock after selling 1,324 shares during the period. Intuitive Surgical comprises about 1.2% of Bridges Investment Management Inc.’s holdings, making the stock its 22nd largest holding. Bridges Investment Management Inc.’s holdings in Intuitive Surgical were worth $96,067,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Holos Integrated Wealth LLC bought a new stake in shares of Intuitive Surgical in the 4th quarter valued at about $25,000. Newbridge Financial Services Group Inc. lifted its stake in shares of Intuitive Surgical by 300.0% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 33 shares during the last quarter. Greykasell Wealth Strategies Inc. bought a new stake in shares of Intuitive Surgical in the 3rd quarter valued at about $27,000. Olistico Wealth LLC bought a new stake in shares of Intuitive Surgical in the 4th quarter valued at about $28,000. Finally, Caitlin John LLC bought a new stake in shares of Intuitive Surgical in the 3rd quarter valued at about $30,000. Institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Stock Performance

Shares of NASDAQ:ISRG opened at $402.30 on Wednesday. Intuitive Surgical, Inc. has a 52-week low of $396.68 and a 52-week high of $603.88. The firm has a market capitalization of $142.48 billion, a P/E ratio of 48.76, a P/E/G ratio of 3.29 and a beta of 1.46. The stock has a 50 day moving average price of $452.19 and a 200-day moving average price of $504.81.

Intuitive Surgical (NASDAQ:ISRG) last announced its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) 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 firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the prior year, the company earned $1.81 EPS. The business’s revenue was up 23.0% compared to the same quarter last year. On average, equities analysts forecast that Intuitive Surgical, Inc. will post 8.57 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Piper Sandler reaffirmed an “overweight” rating and set a $580.00 price target on shares of Intuitive Surgical in a research report on Tuesday. BTIG Research reaffirmed a “buy” rating and set a $574.00 price target on shares of Intuitive Surgical in a research report on Wednesday, April 22nd. Robert W. Baird upped their price target on Intuitive Surgical from $575.00 to $610.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Zacks Research lowered Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Finally, Wall Street Zen lowered Intuitive Surgical from a “buy” rating to a “hold” rating in a research report on Sunday, May 24th. Nineteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $573.63.

Key Headlines Impacting Intuitive Surgical

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

• Negative Sentiment: Deutsche Bank cut its price target on Intuitive Surgical (ISRG) to $366 from $440 and kept a sell rating, reinforcing concerns that the stock may have further downside from current levels. MarketScreener article
• Negative Sentiment: Company SVP Iman Jeddi sold 5,625 shares in a pre-arranged 10b5-1 plan, a transaction that can still weigh on sentiment because it reduces insider ownership and may signal caution to some investors.
• Neutral Sentiment: Several articles highlighted that ISRG is a highly watched and frequently traded name, but these pieces were mostly informational and did not present a new catalyst. Zacks article
• Neutral Sentiment: Analysts and commentary also pointed to Intuitive Surgical’s AI-driven digital roadmap and connected da Vinci ecosystem as a potential long-term growth driver, but that story appears to be offset today by valuation and rating concerns. Yahoo Finance article

Insider Transactions at Intuitive Surgical

In other news, EVP Gary Loeb sold 400 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $446.95, for a total value of $178,780.00. Following the completion of the transaction, the executive vice president owned 6,120 shares of the company’s stock, valued at approximately $2,735,334. This represents a 6.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Iman Jeddi sold 5,625 shares of the 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 completion of the transaction, 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 position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 8,096 shares of company stock worth $3,545,294. 0.60% of the stock is owned by insiders.

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.