TIAA Trust National Association Reduces Stock Holdings in Intuitive Surgical, Inc. $ISRG

TIAA Trust National Association decreased its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 10.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,850 shares of the medical equipment provider’s stock after selling 3,079 shares during the period. TIAA Trust National Association’s holdings in Intuitive Surgical were worth $11,561,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ISRG. Norges Bank bought a new position in shares of Intuitive Surgical in the 2nd quarter worth about $2,569,260,000. Rakuten Investment Management Inc. bought a new stake in shares of Intuitive Surgical in the 3rd quarter worth approximately $388,436,000. Vanguard Group Inc. grew its stake 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 worth $18,115,025,000 after buying an additional 670,302 shares during the last quarter. Canada Pension Plan Investment Board increased its position in Intuitive Surgical by 27.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,089,293 shares of the medical equipment provider’s stock valued at $591,933,000 after buying an additional 231,980 shares in the last quarter. Finally, Winslow Capital Management LLC raised its stake in Intuitive Surgical by 20.2% during 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 buying an additional 225,545 shares during the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Intuitive Surgical Trading Down 0.7%

Shares of NASDAQ:ISRG opened at $503.51 on Friday. Intuitive Surgical, Inc. has a 12 month low of $425.00 and a 12 month high of $603.88. The company has a 50-day moving average price of $529.83 and a 200 day moving average price of $511.48. The company has a market cap of $178.81 billion, a price-to-earnings ratio of 63.82, a PEG ratio of 3.91 and a beta of 1.65.

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

Insider Activity at Intuitive Surgical

In related news, VP Fredrik Widman sold 133 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $494.96, for a total value of $65,829.68. Following the sale, the vice president directly owned 660 shares of the company’s stock, valued at $326,673.60. This represents a 16.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gary S. Guthart sold 24,500 shares of the firm’s stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $530.10, for a total transaction of $12,987,450.00. Following the completion of the sale, the director directly owned 3,694 shares of the company’s stock, valued at approximately $1,958,189.40. The trade was a 86.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 56,409 shares of company stock worth $30,895,377 in the last three months. 0.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ISRG has been the topic of a number of research analyst reports. Barclays set a $712.00 price target on Intuitive Surgical and gave the company an “overweight” rating in a report on Monday, January 26th. Truist Financial lifted their price objective on Intuitive Surgical from $620.00 to $650.00 and gave the stock a “buy” rating in a report on Thursday, December 18th. Piper Sandler reiterated an “overweight” rating and issued a $620.00 price objective (up from $610.00) on shares of Intuitive Surgical in a research note on Friday, January 23rd. Wells Fargo & Company lifted their target price on Intuitive Surgical from $600.00 to $654.00 and gave the company an “overweight” rating in a research report on Friday, December 12th. Finally, Argus reduced their price target on Intuitive Surgical from $630.00 to $560.00 and set a “buy” rating for the company in a research report on Wednesday, February 4th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $615.86.

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.