Conning Inc. Cuts Stock Holdings in Intuitive Surgical, Inc. $ISRG

Conning Inc. decreased its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 2.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,632 shares of the medical equipment provider’s stock after selling 66 shares during the period. Conning Inc.’s holdings in Intuitive Surgical were worth $1,430,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ISRG. Nuveen LLC purchased a new position in shares of Intuitive Surgical during the first quarter valued at approximately $1,715,899,000. Goldman Sachs Group Inc. boosted its position in Intuitive Surgical by 26.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,819,666 shares of the medical equipment provider’s stock worth $1,396,496,000 after purchasing an additional 584,375 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Intuitive Surgical by 20.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,393,951 shares of the medical equipment provider’s stock worth $1,680,922,000 after purchasing an additional 566,979 shares during the last quarter. Wellington Management Group LLP boosted its position in Intuitive Surgical by 15.0% in the first quarter. Wellington Management Group LLP now owns 3,499,052 shares of the medical equipment provider’s stock worth $1,732,975,000 after purchasing an additional 457,080 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Intuitive Surgical by 1.4% in the first quarter. Vanguard Group Inc. now owns 32,665,531 shares of the medical equipment provider’s stock worth $16,178,258,000 after purchasing an additional 453,335 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. UBS Group boosted their price objective on Intuitive Surgical from $547.00 to $585.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 23rd. BTIG Research reiterated a “buy” rating and set a $571.00 price objective on shares of Intuitive Surgical in a research note on Wednesday, October 1st. Wall Street Zen upgraded Intuitive Surgical from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. Evercore ISI decreased their target price on Intuitive Surgical from $535.00 to $450.00 and set an “in-line” rating on the stock in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of Intuitive Surgical in a research note on Friday, August 22nd. Fourteen 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 MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $589.43.

Intuitive Surgical Price Performance

Shares of ISRG stock opened at $429.59 on Friday. The stock has a market capitalization of $154.00 billion, a PE ratio of 59.91, a P/E/G ratio of 4.66 and a beta of 1.61. Intuitive Surgical, Inc. has a 1-year low of $425.00 and a 1-year high of $616.00. The business has a 50-day moving average of $458.68 and a 200 day moving average of $497.98.

Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.26. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%.Intuitive Surgical’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.78 EPS. Analysts anticipate that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, Director Amy L. Ladd sold 336 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $470.11, for a total transaction of $157,956.96. Following the completion of the transaction, the director owned 1,074 shares of the company’s stock, valued at $504,898.14. This represents a 23.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Myriam Curet sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $492.48, for a total value of $2,216,160.00. Following the transaction, the executive vice president directly owned 353 shares of the company’s stock, valued at $173,845.44. The trade was a 92.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,224 shares of company stock valued at $21,716,492 in the last 90 days. Insiders own 0.70% of the company’s stock.

Intuitive Surgical Profile

Intuitive Surgical, Inc develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally. The company offers the da Vinci Surgical System that enables complex surgery using a minimally invasive approach; and Ion endoluminal system, which extends its commercial offerings beyond surgery into diagnostic procedures enabling minimally invasive biopsies in the lung.