Pictet Asset Management Holding SA Raises Stock Position in Intuitive Surgical, Inc. $ISRG

Pictet Asset Management Holding SA grew its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 6.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,222,579 shares of the medical equipment provider’s stock after acquiring an additional 72,329 shares during the period. Pictet Asset Management Holding SA owned about 0.34% of Intuitive Surgical worth $563,541,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of ISRG. Holos Integrated Wealth LLC acquired a new position in Intuitive Surgical during the fourth quarter worth $25,000. Newbridge Financial Services Group Inc. grew its holdings 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 valued at $25,000 after purchasing an additional 33 shares during the last quarter. Olistico Wealth LLC purchased a new position in shares of Intuitive Surgical in the fourth quarter valued at $28,000. Caitlin John LLC acquired a new position in shares of Intuitive Surgical during the 3rd quarter worth $30,000. Finally, Laurel Wealth Advisors LLC acquired a new position in shares of Intuitive Surgical during the 4th quarter worth $31,000. Institutional investors and hedge funds own 83.64% of the company’s stock.

Intuitive Surgical Stock Up 1.3%

Shares of ISRG opened at $404.70 on Friday. The firm has a market cap of $143.33 billion, a PE ratio of 49.05, a price-to-earnings-growth ratio of 3.29 and a beta of 1.46. The company’s fifty day moving average is $432.67 and its two-hundred day moving average is $484.61. Intuitive Surgical, Inc. has a fifty-two week low of $396.68 and a fifty-two week high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.42. The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.62 billion. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The business’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.81 EPS. As a group, equities research analysts anticipate that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Iman Jeddi sold 5,625 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president directly owned 6,463 shares in the company, valued at $2,718,014.65. This trade represents a 46.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 dated Wednesday, April 29th. The shares were sold at an average price of $463.50, for a total value of $55,156.50. Following the completion of the transaction, the director directly owned 120 shares in the company, valued at $55,620. This represents a 49.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 7,169 shares of company stock worth $3,059,135 over the last three months. 0.60% of the stock is owned by insiders.

Analyst Ratings Changes

ISRG has been the subject of several recent research reports. Truist Financial dropped their target price on shares of Intuitive Surgical from $650.00 to $580.00 and set a “buy” rating for the company in a report on Wednesday, April 15th. Raymond James Financial lowered their price target on shares of Intuitive Surgical from $615.00 to $577.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 22nd. Wall Street Zen raised shares of Intuitive Surgical from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Citigroup upgraded Intuitive Surgical from a “neutral” rating to a “buy” rating and set a $590.00 price objective for the company in a research report on Wednesday, March 11th. Finally, UBS Group reduced their target price on Intuitive Surgical from $570.00 to $550.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 17th. Nineteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $573.42.

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.