Intuitive Surgical, Inc. $ISRG Shares Sold by Verde Servicos Internacionais S.A.

Verde Servicos Internacionais S.A. lessened its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 44.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 12,544 shares of the medical equipment provider’s stock after selling 9,842 shares during the quarter. Intuitive Surgical comprises approximately 1.7% of Verde Servicos Internacionais S.A.’s portfolio, making the stock its 20th largest holding. Verde Servicos Internacionais S.A.’s holdings in Intuitive Surgical were worth $5,101,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Bank of America Corp DE raised its holdings in shares of Intuitive Surgical by 3.3% in the 1st quarter. Bank of America Corp DE now owns 3,616,973 shares of the medical equipment provider’s stock worth $1,667,388,000 after buying an additional 116,292 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Intuitive Surgical during the second quarter valued at $1,335,753,000. Amundi lifted its holdings in shares of Intuitive Surgical by 8.6% during the first quarter. Amundi now owns 2,428,356 shares of the medical equipment provider’s stock valued at $1,119,448,000 after acquiring an additional 193,096 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Intuitive Surgical by 95.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,105,544 shares of the medical equipment provider’s stock valued at $970,635,000 after purchasing an additional 1,027,475 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Intuitive Surgical by 3.7% in the 1st quarter. Janus Henderson Group PLC now owns 1,643,060 shares of the medical equipment provider’s stock valued at $757,489,000 after purchasing an additional 58,587 shares in the last quarter. Institutional investors own 83.64% of the company’s stock.

Insider Buying and Selling

In other news, Director Craig Barratt sold 1,150 shares of the business’s stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $443.80, for a total value of $510,370.00. Following the completion of the transaction, the director owned 1,150 shares of the company’s stock, valued at $510,370. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Fredrik Widman sold 4,047 shares of the company’s stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $453.21, for a total transaction of $1,834,140.87. Following the completion of the sale, the vice president owned 1,026 shares of the company’s stock, valued at approximately $464,993.46. This represents a 79.78% 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 quarter, insiders sold 38,684 shares of company stock valued at $16,770,301. 0.60% of the stock is owned by company insiders.

Key Stories Impacting Intuitive Surgical

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

• Positive Sentiment: Wall Street remains broadly constructive: the average brokerage recommendation is equivalent to a Buy, while the reported consensus price target of $493.54 is above recent trading levels. However, the article cautions that sell-side ratings can be overly optimistic. Wall Street bullish views on ISRG
• Positive Sentiment: Analysts have been raising earnings estimates, and Zacks highlighted ISRG’s growth profile. The company’s latest quarterly results provide fundamental support, with revenue up 21.7% year over year to $3.05 billion and earnings of $3.00 per share versus a $2.65 consensus estimate. Higher earnings estimates
• Neutral Sentiment: ISRG is attracting substantial investor attention, which may increase trading activity but does not necessarily signal a change in business fundamentals. Reported short interest of zero shares and a zero-day days-to-cover ratio also appear inconsistent with the description of a significant increase, limiting the data’s usefulness. ISRG trending-stock analysis
• Negative Sentiment: Several insiders sold shares under pre-arranged Rule 10b5-1 plans. Director Gary Guthart sold approximately $9.1 million, while a vice president, senior vice president and another director also reduced their holdings. Although planned sales are not necessarily bearish, the cluster may weigh on sentiment. ISRG insider selling
• Negative Sentiment: Valuation remains a key risk. ISRG trades at roughly 54 times earnings and a PEG ratio above 3, leaving limited room for execution disappointments. The stock’s decline below its 200-day moving average may also indicate near-term technical weakness.

Wall Street Analyst Weigh In

ISRG has been the subject of a number of recent analyst reports. Robert W. Baird increased their target price on shares of Intuitive Surgical from $513.00 to $550.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 21st. Erste Group Bank raised shares of Intuitive Surgical from a “hold” rating to a “buy” rating in a report on Wednesday, October 21st. Piper Sandler reiterated an “overweight” rating on shares of Intuitive Surgical in a research note on Friday, August 21st. Citigroup reduced their target price on Intuitive Surgical from $590.00 to $500.00 and set a “buy” rating on the stock in a report on Friday, July 17th. Finally, BNP Paribas Exane raised Intuitive Surgical to an “outperform” rating in a report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Intuitive Surgical currently has an average rating of “Moderate Buy” and a consensus price target of $493.54.

Intuitive Surgical Stock Down 1.3%

Intuitive Surgical stock opened at $445.88 on Wednesday. The stock has a 50-day simple moving average of $398.31 and a 200 day simple moving average of $436.15. Intuitive Surgical, Inc. has a 12-month low of $328.57 and a 12-month high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings results on Tuesday, October 20th. The medical equipment provider reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.65 by $0.35. The company had revenue of $3.05 billion for the quarter, compared to analyst estimates of $2.91 billion. The firm’s quarterly revenue was up 21.7% on a year-over-year basis. During the same quarter last year, the company earned $2.40 EPS. Sell-side analysts anticipate that Intuitive Surgical, Inc. will post 9.37 EPS for the current year.

About Intuitive Surgical

Intuitive Surgical, Inc develops and manufactures robotic-assisted systems and related technologies for minimally invasive surgery. Its products are designed to help surgeons perform procedures through small incisions while providing enhanced visualization, precision and control. The company’s primary platform is the da Vinci Surgical System, which is used across a range of specialties, including urology, gynecology, general surgery, cardiothoracic surgery and other procedures.

The company also offers the Ion endoluminal system, which is designed to support minimally invasive lung biopsy procedures.