LGT Capital Partners LTD. Reduces Stake in Intuitive Surgical, Inc. $ISRG

LGT Capital Partners LTD. lowered its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 2.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,616 shares of the medical equipment provider’s stock after selling 2,564 shares during the period. Intuitive Surgical makes up approximately 2.8% of LGT Capital Partners LTD.’s investment portfolio, making the stock its 14th biggest position. LGT Capital Partners LTD.’s holdings in Intuitive Surgical were worth $55,852,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Holos Integrated Wealth LLC purchased a new position in Intuitive Surgical in the fourth quarter worth about $25,000. Newbridge Financial Services Group Inc. grew its position in Intuitive Surgical by 300.0% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 33 shares in the last quarter. Olistico Wealth LLC purchased a new position in Intuitive Surgical in the fourth quarter worth about $28,000. Caitlin John LLC purchased a new position in Intuitive Surgical in the third quarter worth about $30,000. Finally, Laurel Wealth Advisors LLC purchased a new position in Intuitive Surgical in the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Price Performance

Shares of NASDAQ:ISRG opened at $418.58 on Tuesday. Intuitive Surgical, Inc. has a 1 year low of $396.68 and a 1 year high of $603.88. The business has a 50 day simple moving average of $446.24 and a two-hundred day simple moving average of $499.80. The firm has a market capitalization of $148.24 billion, a PE ratio of 50.74, a price-to-earnings-growth ratio of 3.37 and a beta of 1.46.

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, beating 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 during the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the previous year, the business earned $1.81 earnings per share. The company’s revenue for the quarter was up 23.0% compared to the same quarter last year. Equities research analysts expect that Intuitive Surgical, Inc. will post 8.57 EPS for the current fiscal year.

Insider Activity

In other news, EVP Gary Loeb sold 400 shares of Intuitive Surgical stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $446.95, for a total transaction of $178,780.00. Following the completion of the sale, the executive vice president owned 6,120 shares of the company’s stock, valued at approximately $2,735,334. The trade was a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 that occurred on Wednesday, April 29th. The shares were sold at an average price of $463.50, for a total transaction of $55,156.50. Following the sale, the director directly owned 120 shares of the company’s stock, valued at $55,620. This represents a 49.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 6,698 shares of company stock valued at $2,859,708. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Bank of America dropped their price target on Intuitive Surgical from $650.00 to $520.00 and set a “buy” rating for the company in a research report on Monday, May 18th. TD Cowen dropped their target price on Intuitive Surgical from $660.00 to $585.00 and set a “buy” rating for the company in a research report on Wednesday, April 22nd. UBS Group dropped their target price on Intuitive Surgical from $570.00 to $550.00 and set a “neutral” rating for the company in a research report on Tuesday, March 17th. Raymond James Financial dropped their target price on Intuitive Surgical from $615.00 to $577.00 and set an “outperform” rating for the company in a research report on Wednesday, April 22nd. Finally, Jefferies Financial Group dropped their target price on Intuitive Surgical from $560.00 to $515.00 and set a “hold” rating for the company in a research report on Wednesday, April 22nd. Nineteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Intuitive Surgical has an average rating of “Moderate Buy” and an average price target of $573.63.

Intuitive Surgical Company 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.