Bank of Nova Scotia Grows Position in Intuitive Surgical, Inc. (ISRG)
Bank of Nova Scotia increased its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 847.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,316 shares of the medical equipment provider’s stock after purchasing an additional 7,438 shares during the quarter. Bank of Nova Scotia’s holdings in Intuitive Surgical were worth $7,779,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. ETF Managers Group LLC acquired a new stake in shares of Intuitive Surgical during the second quarter worth about $110,000. D. Scott Neal Inc. acquired a new stake in shares of Intuitive Surgical during the second quarter worth about $120,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Intuitive Surgical during the second quarter worth about $120,000. Guardian Life Insurance Co. of America lifted its holdings in shares of Intuitive Surgical by 2.2% during the first quarter. Guardian Life Insurance Co. of America now owns 142 shares of the medical equipment provider’s stock worth $109,000 after purchasing an additional 3 shares during the period. Finally, Parallel Advisors LLC lifted its holdings in shares of Intuitive Surgical by 10.1% during the first quarter. Parallel Advisors LLC now owns 153 shares of the medical equipment provider’s stock worth $129,000 after purchasing an additional 14 shares during the period. 94.23% of the stock is owned by hedge funds and other institutional investors.
In other news, VP Jamie Samath sold 242 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $949.01, for a total value of $229,660.42. Following the completion of the sale, the vice president now directly owns 23 shares of the company’s stock, valued at approximately $21,827.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Salvatore Brogna sold 899 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $1,001.90, for a total value of $900,708.10. Following the completion of the sale, the executive vice president now directly owns 570 shares of the company’s stock, valued at $571,083. The disclosure for this sale can be found here. Insiders sold a total of 23,172 shares of company stock valued at $21,923,487 over the last three months. Insiders own 2.20% of the company’s stock.
Shares of Intuitive Surgical, Inc. (ISRG) opened at 362.29 on Friday. The stock has a 50 day moving average price of $347.28 and a 200-day moving average price of $310.18. The stock has a market capitalization of $40.38 billion, a PE ratio of 52.06 and a beta of 0.39. Intuitive Surgical, Inc. has a 52-week low of $203.57 and a 52-week high of $367.50.
Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings results on Thursday, July 20th. The medical equipment provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.64 by $0.02. The business had revenue of $756.20 million during the quarter, compared to analysts’ expectations of $724.51 million. Intuitive Surgical had a return on equity of 15.99% and a net margin of 28.44%. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period last year, the firm earned $0.62 EPS. On average, equities research analysts anticipate that Intuitive Surgical, Inc. will post $7.97 EPS for the current fiscal year.
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A number of equities research analysts recently commented on the company. Morgan Stanley reaffirmed an “overweight” rating on shares of Intuitive Surgical in a report on Tuesday, September 5th. BidaskClub raised Intuitive Surgical from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Leerink Swann reaffirmed an “outperform” rating on shares of Intuitive Surgical in a report on Wednesday, July 5th. Wedbush reaffirmed a “buy” rating on shares of Intuitive Surgical in a report on Tuesday, October 10th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $333.33 target price on shares of Intuitive Surgical in a report on Friday, September 1st. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $137.11.
Intuitive Surgical Profile
Intuitive Surgical, Inc (Intuitive) designs, manufactures and markets da Vinci Surgical Systems, and related instruments and accessories. The Company’s da Vinci Surgical System consists of a surgeon’s console, a patient-side cart and a vision system. The da Vinci Surgical System translates a surgeon’s hand movements, which are performed on instrument controls at a console, into corresponding micro-movements of instruments positioned inside the patient through small incisions or ports.
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