First Republic Investment Management Inc. Has $40.66 Million Position in Intuitive Surgical, Inc. (ISRG)
First Republic Investment Management Inc. trimmed its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 6.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,837 shares of the medical equipment provider’s stock after selling 4,796 shares during the period. First Republic Investment Management Inc. owned approximately 0.06% of Intuitive Surgical worth $40,661,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of ISRG. Adviser Investments LLC purchased a new position in Intuitive Surgical in the 2nd quarter valued at $115,000. Signet Financial Management LLC purchased a new position in Intuitive Surgical in the 2nd quarter valued at $115,000. Arrow Financial Corp purchased a new position in Intuitive Surgical in the 3rd quarter valued at $115,000. JNBA Financial Advisors purchased a new position in Intuitive Surgical in the 3rd quarter valued at $115,000. Finally, Pendal Group Ltd purchased a new position in Intuitive Surgical in the 3rd quarter valued at $118,000. Hedge funds and other institutional investors own 84.31% of the company’s stock.
ISRG has been the topic of a number of analyst reports. Piper Jaffray Companies upgraded shares of Intuitive Surgical from a “neutral” rating to an “overweight” rating and set a $600.00 price objective on the stock in a research report on Tuesday, October 9th. Morgan Stanley raised their target price on Intuitive Surgical from $575.00 to $600.00 and gave the company an “overweight” rating in a report on Thursday, October 11th. Wells Fargo & Co raised their target price on Intuitive Surgical from $575.00 to $635.00 and gave the company an “outperform” rating in a report on Wednesday, September 12th. Zacks Investment Research downgraded Intuitive Surgical from a “buy” rating to a “hold” rating in a report on Thursday, November 29th. Finally, UBS Group began coverage on Intuitive Surgical in a report on Tuesday, November 27th. They issued a “neutral” rating and a $540.00 target price for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $556.01.
Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings results on Thursday, October 18th. The medical equipment provider reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $0.17. The business had revenue of $920.90 million during the quarter, compared to the consensus estimate of $916.22 million. Intuitive Surgical had a return on equity of 18.79% and a net margin of 22.31%. The business’s revenue was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.77 EPS. Research analysts forecast that Intuitive Surgical, Inc. will post 9.52 earnings per share for the current fiscal year.
In other news, Director Amal M. Johnson sold 1,000 shares of Intuitive Surgical stock in a transaction on Tuesday, October 23rd. The stock was sold at an average price of $500.00, for a total transaction of $500,000.00. Following the completion of the transaction, the director now owns 9,874 shares of the company’s stock, valued at approximately $4,937,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Jamie Samath sold 227 shares of Intuitive Surgical stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $541.86, for a total value of $123,002.22. Following the transaction, the vice president now directly owns 138 shares of the company’s stock, valued at approximately $74,776.68. The disclosure for this sale can be found here. Insiders have sold a total of 74,561 shares of company stock valued at $38,888,606 in the last ninety days. Corporate insiders own 2.20% of the company’s stock.
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Intuitive Surgical Company Profile
Intuitive Surgical, Inc designs, manufactures, and markets da Vinci surgical systems, and related instruments and accessories. The company's da Vinci surgical System translates a surgeon's natural 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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