BlackRock Trims Intuitive Surgical Stake to 6.9%
Ticker: ISRG · Form: SC 13G/A · Filed: Jan 25, 2024 · CIK: 1035267
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investing
TL;DR
**BlackRock cut its Intuitive Surgical stake to 6.9%, a minor but notable trim.**
AI Summary
BlackRock, Inc. filed an amended Schedule 13G/A on January 25, 2024, indicating its ownership of 24,942,654 shares of Intuitive Surgical Inc. common stock as of December 31, 2023. This represents a 6.9% stake in the company, a slight decrease from its previous reported ownership. This matters to investors because BlackRock is a major institutional investor, and changes in its holdings can signal shifts in its confidence in Intuitive Surgical's future performance, potentially influencing other investors.
Why It Matters
This filing shows a slight reduction in BlackRock's significant ownership in Intuitive Surgical, which could be interpreted as a minor loss of conviction by a major institutional investor.
Risk Assessment
Risk Level: low — The change in ownership is relatively small and does not indicate a major divestment or acquisition that would significantly alter the company's risk profile.
Analyst Insight
Investors should note BlackRock's slight reduction in its stake, but recognize that a 6.9% holding still signifies a substantial long-term investment, suggesting continued confidence in Intuitive Surgical's core business.
Key Numbers
- 24,942,654 — Shares Owned (BlackRock's total beneficial ownership of Intuitive Surgical common stock as of December 31, 2023.)
- 6.9% — Percentage Ownership (BlackRock's percentage of the total outstanding shares of Intuitive Surgical common stock.)
Key Players & Entities
- BlackRock, Inc. (company) — the reporting person and institutional investor
- INTUITIVE SURGICAL INC (company) — the subject company whose shares are being reported
- 24,942,654 (dollar_amount) — number of shares of common stock beneficially owned by BlackRock
- 6.9% (dollar_amount) — percentage of the class of common stock owned by BlackRock
- December 31, 2023 (date) — the date of the event which requires the filing of this statement
- January 25, 2024 (date) — the filing date of the SC 13G/A amendment
Forward-Looking Statements
- BlackRock will maintain a significant, albeit slightly reduced, stake in Intuitive Surgical, reflecting continued long-term confidence. (BlackRock, Inc.) — medium confidence, target: December 31, 2024
FAQ
Who filed this SC 13G/A amendment?
BlackRock, Inc. filed this SC 13G/A amendment, as stated in the 'FILED BY' section of the filing.
What company's stock is the subject of this filing?
The subject company is INTUITIVE SURGICAL INC, as indicated in the 'SUBJECT COMPANY' section and the 'Name of Issuer' on the Schedule 13G form.
What was BlackRock's beneficial ownership percentage of Intuitive Surgical as of December 31, 2023?
As of December 31, 2023, BlackRock, Inc. beneficially owned 6.9% of the common stock of Intuitive Surgical Inc., as reported on the Schedule 13G form.
How many shares of Intuitive Surgical common stock does BlackRock, Inc. beneficially own?
BlackRock, Inc. beneficially owns 24,942,654 shares of Intuitive Surgical Inc. common stock, according to the filing.
What is the CUSIP number for the securities discussed in this filing?
The CUSIP number for the Common Stock of Intuitive Surgical Inc. is 46120E602, as listed on the Schedule 13G form.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 25, 2024 regarding INTUITIVE SURGICAL INC (ISRG).