Empowered Funds LLC Grows Holdings in Intuitive Surgical, Inc. $ISRG

Empowered Funds LLC lifted its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 143.1% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 43,981 shares of the medical equipment provider’s stock after buying an additional 25,886 shares during the period. Empowered Funds LLC’s holdings in Intuitive Surgical were worth $20,275,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Newbridge Financial Services Group Inc. increased its holdings in Intuitive Surgical by 300.0% in the 4th 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. Laurel Wealth Advisors LLC purchased a new position in Intuitive Surgical during the fourth quarter valued at $31,000. Turning Point Benefit Group Inc. lifted its holdings in Intuitive Surgical by 833.3% during the fourth quarter. Turning Point Benefit Group Inc. now owns 56 shares of the medical equipment provider’s stock valued at $32,000 after purchasing an additional 50 shares in the last quarter. Motiv8 Investments LLC acquired a new stake in shares of Intuitive Surgical in the fourth quarter valued at about $34,000. Finally, Oakworth Capital Inc. grew its position in shares of Intuitive Surgical by 281.2% in the fourth quarter. Oakworth Capital Inc. now owns 61 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 45 shares during the period. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Insider Activity at Intuitive Surgical

In related news, EVP Gary Loeb sold 400 shares of Intuitive Surgical stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total transaction of $169,656.00. Following the transaction, the executive vice president owned 5,720 shares in the company, valued at approximately $2,426,080.80. This trade represents a 6.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Iman Jeddi sold 5,625 shares of the business’s stock in a transaction on 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 6,550 shares of company stock valued at $2,767,249. Insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ISRG shares. UBS Group started coverage on shares of Intuitive Surgical in a research report on Tuesday. They set a “neutral” rating and a $500.00 price target for the company. Sanford C. Bernstein lowered their price objective on Intuitive Surgical from $750.00 to $685.00 and set an “outperform” rating on the stock in a report on Friday, July 17th. Robert W. Baird cut their price objective on Intuitive Surgical from $525.00 to $500.00 and set an “outperform” rating for the company in a research note on Friday, July 17th. Deutsche Bank Aktiengesellschaft reduced their target price on Intuitive Surgical from $440.00 to $366.00 and set a “sell” rating for the company in a report on Tuesday, June 2nd. Finally, BTIG Research decreased their target price on Intuitive Surgical from $512.00 to $469.00 and set a “buy” rating on the stock in a research report on Friday, July 17th. Twenty-one investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Intuitive Surgical currently has an average rating of “Moderate Buy” and a consensus target price of $517.21.

Key Intuitive Surgical News

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

• Positive Sentiment: Durable demand and improved margins: On its second-quarter earnings call, Intuitive Surgical highlighted continued demand for its da Vinci surgical systems and raised margin guidance. The company’s latest quarter also exceeded analyst expectations for revenue and earnings, supporting confidence in operating execution. ISRG Q2 Earnings Call Signals Durable Demand & U.S. Caution
• Positive Sentiment: Analysts see significant recovery potential: Wall Street’s average price target is substantially above the current trading level, with one analyst reportedly assigning a target of $685. The bullish view reflects expectations for further procedure growth, broader adoption of robotic-assisted surgery and recurring instrument and service revenue. Why Wall Street Thinks Intuitive Surgical Stock Could Soar
• Positive Sentiment: Patient-awareness campaign: Intuitive announced a collaboration with Deion “Coach Prime” Sanders to educate patients about surgical options and encourage discussions with physicians. The campaign could increase public awareness of da Vinci procedures, although its financial impact is likely longer term. Intuitive Collaborates with Deion Sanders
• Neutral Sentiment: Governance update: The board amended the company’s bylaws and proxy rules. The changes may affect shareholder proposals and corporate governance but do not appear to alter Intuitive Surgical’s operating outlook. Intuitive Surgical Tightens Shareholder Governance and Proxy Rules
• Negative Sentiment: U.S. growth and coverage risks: Management cautioned about slower U.S. procedure growth and deferred care. Separately, the loss of enhanced Affordable Care Act subsidies could reduce insurance coverage, potentially delaying elective procedures and limiting near-term demand. The ACA Coverage Debate Just Became a $50 Billion Question

Intuitive Surgical Trading Up 1.4%

Shares of NASDAQ ISRG opened at $361.80 on Wednesday. Intuitive Surgical, Inc. has a 12-month low of $328.57 and a 12-month high of $603.88. The stock has a market cap of $127.82 billion, a PE ratio of 41.44, a P/E/G ratio of 2.58 and a beta of 1.46. The company has a 50-day moving average of $403.62 and a 200 day moving average of $455.95.

Intuitive Surgical (NASDAQ:ISRG) last released its earnings results on Thursday, July 16th. The medical equipment provider reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.32. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.83 billion. Intuitive Surgical had a net margin of 28.45% and a return on equity of 16.91%. The business’s revenue was up 18.4% on a year-over-year basis. During the same period last year, the company posted $1.81 EPS. On average, sell-side analysts forecast that Intuitive Surgical, Inc. will post 8.87 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.