Illinois Municipal Retirement Fund Purchases 3,885 Shares of Intuitive Surgical, Inc. $ISRG

Illinois Municipal Retirement Fund increased its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 58.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,488 shares of the medical equipment provider’s stock after acquiring an additional 3,885 shares during the period. Illinois Municipal Retirement Fund’s holdings in Intuitive Surgical were worth $4,835,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in ISRG. Newbridge Financial Services Group Inc. raised its position in Intuitive Surgical by 300.0% during 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 in the last quarter. Holos Integrated Wealth LLC acquired a new stake in shares of Intuitive Surgical in the 4th quarter valued at $25,000. Olistico Wealth LLC bought a new position in shares of Intuitive Surgical in the 4th quarter valued at $28,000. Laurel Wealth Advisors LLC bought a new position in shares of Intuitive Surgical in the 4th quarter valued at $31,000. Finally, Turning Point Benefit Group Inc. raised its holdings in shares of Intuitive Surgical by 833.3% during the 4th quarter. Turning Point Benefit Group Inc. now owns 56 shares of the medical equipment provider’s stock worth $32,000 after buying an additional 50 shares in the last quarter. 83.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ISRG shares. Raymond James Financial restated an “outperform” rating and set a $483.00 price objective (down from $577.00) on shares of Intuitive Surgical in a research report on Friday. Citigroup lowered their target price on Intuitive Surgical from $590.00 to $500.00 and set a “buy” rating for the company in a research note on Friday. Barclays set a $651.00 target price on shares of Intuitive Surgical and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Sanford C. Bernstein reduced their price target on shares of Intuitive Surgical from $750.00 to $685.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, HSBC decreased their price target on shares of Intuitive Surgical from $653.00 to $604.00 and set a “buy” rating on the stock in a report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $523.46.

Intuitive Surgical Trading Down 14.1%

Shares of ISRG opened at $345.42 on Friday. The stock’s 50-day moving average price is $415.28 and its two-hundred day moving average price is $467.88. Intuitive Surgical, Inc. has a 12 month low of $344.55 and a 12 month high of $603.88. The company has a market capitalization of $122.33 billion, a PE ratio of 39.57, a PEG ratio of 2.81 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.42. Intuitive Surgical had a return on equity of 17.09% and a net margin of 28.45%.The company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter in the prior year, the firm posted $1.81 earnings per share. The business’s quarterly revenue was up 23.0% on a year-over-year basis. Equities research analysts predict that Intuitive Surgical, Inc. will post 8.62 EPS for the current fiscal year.

More Intuitive Surgical News

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

• Positive Sentiment: Intuitive Surgical reported stronger-than-expected Q2 revenue and earnings, helped by solid demand for its da Vinci robotic surgery systems and continued adoption of its products. Reuters article
• Positive Sentiment: The company still reported healthy procedure growth overall, with worldwide procedures rising and placements of robotic systems remaining strong, which supports the long-term investment case. Yahoo Finance article
• Neutral Sentiment: Several analysts lowered price targets after the report, but most kept bullish ratings such as overweight, buy, or outperform, suggesting Wall Street still sees meaningful upside despite the near-term pullback. Benzinga article
• Negative Sentiment: Management did not raise its forecast for procedure growth, and investors reacted badly to slower U.S. procedure growth and a cautious full-year outlook. Benzinga article
• Negative Sentiment: Reuters also noted concerns that changes to some insurance plans could reduce demand, adding to worries about slower U.S. growth and a softer near-term procedure trajectory. Reuters article

Insider Activity

In other news, Director Amy L. Ladd sold 119 shares of the stock in a transaction 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 completion of the sale, 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Iman Jeddi sold 5,625 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $420.55, for a total transaction of $2,365,593.75. Following the sale, the senior vice president owned 6,463 shares of the company’s stock, valued at approximately $2,718,014.65. This trade represents a 46.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 7,169 shares of company stock valued at $3,059,135. 0.60% of the stock is currently owned by insiders.

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.