Artisan Partners Limited Partnership Decreases Stake in Intuitive Surgical, Inc. $ISRG

Artisan Partners Limited Partnership cut its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 19.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 103,218 shares of the medical equipment provider’s stock after selling 24,170 shares during the period. Artisan Partners Limited Partnership’s holdings in Intuitive Surgical were worth $46,162,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Intuitive Surgical in the second quarter valued at $2,569,260,000. Rakuten Investment Management Inc. acquired a new position in shares of Intuitive Surgical during the 3rd quarter worth about $388,436,000. Vanguard Group Inc. increased its holdings in shares of Intuitive Surgical by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 33,335,833 shares of the medical equipment provider’s stock valued at $18,115,025,000 after acquiring an additional 670,302 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in Intuitive Surgical by 27.1% during the second quarter. Canada Pension Plan Investment Board now owns 1,089,293 shares of the medical equipment provider’s stock worth $591,933,000 after purchasing an additional 231,980 shares during the last quarter. Finally, Winslow Capital Management LLC boosted its holdings in Intuitive Surgical by 20.2% in the second quarter. Winslow Capital Management LLC now owns 1,342,473 shares of the medical equipment provider’s stock valued at $729,513,000 after purchasing an additional 225,545 shares in the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Zacks Research raised shares of Intuitive Surgical from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 19th. UBS Group set a $570.00 price target on shares of Intuitive Surgical and gave the stock a “neutral” rating in a research note on Tuesday. Truist Financial boosted their price target on shares of Intuitive Surgical from $620.00 to $650.00 and gave the company a “buy” rating in a research report on Thursday, December 18th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Intuitive Surgical in a report on Monday, December 29th. Finally, Wells Fargo & Company boosted their target price on Intuitive Surgical from $600.00 to $654.00 and gave the company an “overweight” rating in a report on Friday, December 12th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $615.86.

Insiders Place Their Bets

In other news, VP Fredrik Widman sold 133 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $494.96, for a total transaction of $65,829.68. Following the completion of the sale, the vice president owned 660 shares in the company, valued at $326,673.60. This represents a 16.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Patricia L. Wadors sold 220 shares of the stock in a transaction on Friday, February 27th. The stock was sold at an average price of $499.71, for a total value of $109,936.20. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 56,409 shares of company stock valued at $30,895,377. 0.70% of the stock is owned by company insiders.

Intuitive Surgical Stock Performance

Shares of NASDAQ:ISRG opened at $503.51 on Friday. Intuitive Surgical, Inc. has a one year low of $425.00 and a one year high of $603.88. The stock has a market capitalization of $178.81 billion, a price-to-earnings ratio of 63.82, a PEG ratio of 3.91 and a beta of 1.65. The company has a 50-day simple moving average of $529.83 and a 200-day simple moving average of $511.48.

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

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.