Intuitive Surgical, Inc. $ISRG Stock: Rakuten Investment Management Inc. Raises Holdings

Rakuten Investment Management Inc. boosted its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 10.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 94,113 shares of the medical equipment provider’s stock after buying an additional 8,725 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Intuitive Surgical were worth $38,791,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Bank of America Corp DE lifted its holdings in Intuitive Surgical by 3.3% during the 1st quarter. Bank of America Corp DE now owns 3,616,973 shares of the medical equipment provider’s stock worth $1,667,388,000 after buying an additional 116,292 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Intuitive Surgical during the 2nd quarter worth about $1,335,753,000. Amundi boosted its position in shares of Intuitive Surgical by 8.6% during the 1st quarter. Amundi now owns 2,428,356 shares of the medical equipment provider’s stock worth $1,119,448,000 after acquiring an additional 193,096 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Intuitive Surgical by 95.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,105,544 shares of the medical equipment provider’s stock valued at $970,635,000 after acquiring an additional 1,027,475 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Intuitive Surgical by 10.8% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,893,485 shares of the medical equipment provider’s stock valued at $769,948,000 after acquiring an additional 184,044 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Wall Street Analysts Forecast Growth

ISRG has been the subject of several recent analyst reports. BNP Paribas Exane upgraded Intuitive Surgical to an “outperform” rating in a research note on Tuesday, July 28th. Royal Bank Of Canada dropped their price target on shares of Intuitive Surgical from $575.00 to $550.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 21st. Citigroup dropped their price target on shares of Intuitive Surgical from $590.00 to $500.00 and set a “buy” rating on the stock in a research note on Friday, July 17th. Barclays reissued an “overweight” rating and set a $500.00 price objective (up from $485.00) on shares of Intuitive Surgical in a report on Wednesday, October 21st. Finally, Erste Group Bank upgraded shares of Intuitive Surgical from a “hold” rating to a “buy” rating in a research report on Wednesday, October 21st. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $493.54.

Intuitive Surgical Stock Performance

Shares of ISRG stock opened at $440.75 on Wednesday. The stock’s 50-day moving average is $404.05 and its two-hundred day moving average is $432.90. The firm has a market cap of $152.78 billion, a price-to-earnings ratio of 53.30, a PEG ratio of 3.01 and a beta of 1.45. Intuitive Surgical, Inc. has a 1 year low of $328.57 and a 1 year high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last posted its earnings results on Tuesday, October 20th. The medical equipment provider reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.35. The business had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $2.91 billion. Intuitive Surgical had a return on equity of 18.17% and a net margin of 25.54%. The business’s quarterly revenue was up 21.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.40 EPS. As a group, research analysts predict that Intuitive Surgical, Inc. will post 9.37 EPS for the current year.

Insider Activity

In other Intuitive Surgical news, Director Craig Barratt sold 1,150 shares of Intuitive Surgical stock in a transaction that occurred on Friday, October 23rd. The stock was sold at an average price of $443.80, for a total transaction of $510,370.00. Following the transaction, the director owned 1,150 shares of the company’s stock, valued at $510,370. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy Ladd sold 400 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $379.00, for a total value of $151,600.00. Following the completion of the sale, the director owned 251 shares of the company’s stock, valued at approximately $95,129. This represents a 61.44% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 38,778 shares of company stock worth $16,814,967 over the last ninety days. 0.60% of the stock is owned by corporate insiders.

Intuitive Surgical Company Profile

Intuitive Surgical, Inc develops and manufactures robotic-assisted systems and related technologies for minimally invasive surgery. Its products are designed to help surgeons perform procedures through small incisions while providing enhanced visualization, precision and control. The company’s primary platform is the da Vinci Surgical System, which is used across a range of specialties, including urology, gynecology, general surgery, cardiothoracic surgery and other procedures.

The company also offers the Ion endoluminal system, which is designed to support minimally invasive lung biopsy procedures.