Premier Fund Managers Ltd Sells 19,393 Shares of Intuitive Surgical, Inc. $ISRG

Premier Fund Managers Ltd cut its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 94.5% during the third quarter, HoldingsChannel reports. The firm owned 1,139 shares of the medical equipment provider’s stock after selling 19,393 shares during the period. Premier Fund Managers Ltd’s holdings in Intuitive Surgical were worth $500,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in ISRG. SteelPeak Wealth LLC boosted its holdings in Intuitive Surgical by 28.7% in the 3rd quarter. SteelPeak Wealth LLC now owns 41,993 shares of the medical equipment provider’s stock valued at $18,781,000 after purchasing an additional 9,364 shares during the period. Amalgamated Bank raised its position in shares of Intuitive Surgical by 2.2% during the second quarter. Amalgamated Bank now owns 81,542 shares of the medical equipment provider’s stock valued at $44,311,000 after buying an additional 1,772 shares during the last quarter. Atlantic Union Bankshares Corp lifted its stake in shares of Intuitive Surgical by 19.3% in the third quarter. Atlantic Union Bankshares Corp now owns 22,759 shares of the medical equipment provider’s stock valued at $10,179,000 after buying an additional 3,676 shares during the period. Bessemer Group Inc. lifted its stake in shares of Intuitive Surgical by 89.3% in the second quarter. Bessemer Group Inc. now owns 788,328 shares of the medical equipment provider’s stock valued at $428,386,000 after buying an additional 371,806 shares during the period. Finally, World Investment Advisors grew its position in Intuitive Surgical by 238.3% during the third quarter. World Investment Advisors now owns 5,399 shares of the medical equipment provider’s stock worth $2,415,000 after buying an additional 3,803 shares in the last quarter. Institutional investors own 83.64% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on ISRG. Piper Sandler reaffirmed an “overweight” rating and issued a $620.00 price target (up previously from $610.00) on shares of Intuitive Surgical in a report on Friday, January 23rd. Royal Bank Of Canada upped their target price on Intuitive Surgical from $625.00 to $650.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. BTIG Research reaffirmed a “buy” rating and issued a $616.00 target price on shares of Intuitive Surgical in a research report on Friday, January 23rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Intuitive Surgical in a report on Monday, December 29th. Finally, Raymond James Financial increased their price objective on shares of Intuitive Surgical from $603.00 to $615.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $617.23.

Insider Activity at Intuitive Surgical

In related news, VP Fredrik Widman sold 133 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $494.96, for a total value of $65,829.68. Following the completion of the sale, the vice president owned 660 shares of the company’s stock, valued at $326,673.60. This trade represents a 16.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gary S. Guthart sold 24,500 shares of the company’s stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $530.10, for a total value of $12,987,450.00. Following the transaction, the director directly owned 3,694 shares in the company, valued at approximately $1,958,189.40. This represents a 86.90% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 56,189 shares of company stock valued at $30,785,441. Insiders own 0.70% of the company’s stock.

Intuitive Surgical Stock Performance

Shares of ISRG opened at $504.05 on Monday. The company has a market cap of $179.00 billion, a price-to-earnings ratio of 63.88, a PEG ratio of 3.90 and a beta of 1.65. The stock has a fifty day moving average price of $535.88 and a two-hundred day moving average price of $511.00. Intuitive Surgical, Inc. has a 52-week low of $425.00 and a 52-week high of $607.35.

Intuitive Surgical (NASDAQ:ISRG) last announced its earnings results on Thursday, January 22nd. The medical equipment provider reported $2.53 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.26. The company had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.72 billion. Intuitive Surgical had a return on equity of 15.06% and a net margin of 28.38%.The firm’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same period last year, the company posted $2.21 earnings per share. As a group, research analysts predict that Intuitive Surgical, Inc. will post 6.43 EPS 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.