DAVENPORT 13F: Cuts Intuitive Surgical (ISRG) Stake by $59M

Davenport reduced its investment in Intuitive Surgical, Inc. (NasdaqGS: ISRG) significantly during the quarter, according to a Form 13F filing submitted to the Securities and Exchange Commission on October 14, 2026. Because 13F filings look backward, this report reflects holdings as of the end of the reporting period and may not represent the investor's current position today.

Inside Davenport's Intuitive Surgical Trade

Davenport cut its stake by 145,132 shares, or 94.7%, during the period. The firm ended the quarter with 8,095 shares of Intuitive Surgical remaining in its portfolio, with a reported value of $3,291,545. Previously, the firm held 153,227 shares.

Other Institutional Activity in Intuitive Surgical

Blackrock Inc. grew its holdings by 51,129 shares, ending with 30,024,648 shares worth about $12,811,517,668. Vanguard Capital Management LLC grew its holdings by 50,777 shares, ending with 23,131,099 shares worth about $9,870,040,225. State Street Corporation grew its holdings by 215,526 shares, ending with 16,063,040 shares worth about $6,854,099,364. Invesco Ltd. grew its holdings by 653,500 shares, ending with 11,843,563 shares worth about $5,053,648,476. Price (T.Rowe) Associates Inc reduced its holdings by 1,263,250 shares, ending with 11,256,570 shares worth about $4,803,178,556.

Intuitive Surgical, Inc. Stock Up 1.7%

Intuitive Surgical shares recently traded around $427.42. The stock sits 9.4% above its 50-day moving average and 29.2% below its 52-week high of $603.88.

Recent Earnings

Intuitive Surgical generated $11.0 billion in trailing twelve-month revenue alongside an earnings per share figure of $8.72. The company posted a net profit margin of 28.4% and a return on equity of 17.4%. Investors are awaiting the company's next earnings report scheduled for October 20, 2026.

Insider Buying and Selling at Intuitive Surgical, Inc.

Company insiders were active in the market prior to the filing. Officer Mark Preston Brosius executed a series of sales, disposing of 154 shares on August 21, 69 shares on September 9, and 48 shares on September 11. Later, Fredrik Widman sold 1,089 shares at a price of $374.44 on September 15 for a total value of $407,765.

Analysts Set New Price Targets

Wall Street firms adjusted their views on the stock leading up to the filing. HSBC downgraded the stock to a Hold rating with a $931.00 price target on July 30. Oppenheimer upgraded the stock to Outperform with a $500.00 target on August 12, while BTIG reiterated a Buy rating and set a $469.00 target on September 8. Barclays initiated coverage with an Overweight rating and a $485.00 target on October 7, and BTIG maintained its Buy rating with a $454.00 target on October 12. Across the broader analyst community, the stock holds a consensus Buy rating from 30 analysts, with a mean price target of $478.53.

About Intuitive Surgical, Inc.

Intuitive Surgical develops and markets advanced robotic systems that help doctors perform minimally invasive surgeries. Best known for its da Vinci surgical system, the healthcare company provides medical instruments and accessories used in hospitals around the globe. Institutional portfolio adjustments like Davenport's filing offer a look at how major investors manage their exposure to the medical device maker.

Bottom Line

Investors will look closely at Intuitive Surgical's upcoming earnings report on October 20, 2026, for fresh details on procedure volumes and financial performance. This filing captures just one fund's portfolio adjustment during a specific period and does not reflect subsequent market activity. Keep in mind that 13F filings are backward-looking: they show holdings as of the end of the reporting quarter and may not represent the fund's current position.