Jennison Associates LLC Increases Stake in Intuitive Surgical, Inc. (ISRG)
Jennison Associates LLC increased its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 37.4% in the first quarter, HoldingsChannel reports. The firm owned 2,679,394 shares of the medical equipment provider’s stock after acquiring an additional 729,710 shares during the period. Intuitive Surgical makes up approximately 1.5% of Jennison Associates LLC’s investment portfolio, making the stock its 20th biggest position. Jennison Associates LLC’s holdings in Intuitive Surgical were worth $1,528,809,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in ISRG. Glassman Wealth Services raised its holdings in Intuitive Surgical by 207.7% during the 1st quarter. Glassman Wealth Services now owns 80 shares of the medical equipment provider’s stock valued at $46,000 after buying an additional 54 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in Intuitive Surgical during the 1st quarter valued at $537,000. GAM Holding AG raised its holdings in Intuitive Surgical by 107.3% during the 1st quarter. GAM Holding AG now owns 20,351 shares of the medical equipment provider’s stock valued at $11,612,000 after buying an additional 10,533 shares during the last quarter. Rockefeller Capital Management L.P. raised its holdings in Intuitive Surgical by 614.8% during the 1st quarter. Rockefeller Capital Management L.P. now owns 2,123 shares of the medical equipment provider’s stock valued at $1,211,000 after buying an additional 1,826 shares during the last quarter. Finally, Intrust Bank NA raised its holdings in Intuitive Surgical by 2.8% during the 1st quarter. Intrust Bank NA now owns 2,755 shares of the medical equipment provider’s stock valued at $1,572,000 after buying an additional 76 shares during the last quarter. 85.53% of the stock is owned by institutional investors.
ISRG has been the subject of a number of recent analyst reports. BidaskClub lowered shares of Intuitive Surgical from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 16th. Cantor Fitzgerald set a $620.00 price target on shares of Intuitive Surgical and gave the company a “buy” rating in a report on Thursday, April 4th. Deutsche Bank initiated coverage on shares of Intuitive Surgical in a report on Monday, April 1st. They set a “buy” rating and a $630.00 price target for the company. Canaccord Genuity reiterated a “buy” rating and set a $575.00 price target (down from $610.00) on shares of Intuitive Surgical in a report on Monday, April 22nd. Finally, Citigroup lowered their price target on shares of Intuitive Surgical from $684.00 to $611.00 and set a “buy” rating for the company in a report on Tuesday, April 23rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Intuitive Surgical has an average rating of “Buy” and an average target price of $576.82.
Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings data on Thursday, April 18th. The medical equipment provider reported $2.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.70 by ($0.09). Intuitive Surgical had a return on equity of 17.33% and a net margin of 29.78%. The company had revenue of $974.00 million during the quarter, compared to the consensus estimate of $975.27 million. During the same quarter last year, the company posted $2.44 earnings per share. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. Research analysts expect that Intuitive Surgical, Inc. will post 9.4 EPS for the current year.
In other Intuitive Surgical news, CEO Gary S. Guthart sold 22,636 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $501.48, for a total value of $11,351,501.28. Following the completion of the transaction, the chief executive officer now directly owns 386,866 shares in the company, valued at approximately $194,005,561.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Curet Myriam sold 2,200 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $493.26, for a total transaction of $1,085,172.00. Following the completion of the sale, the executive vice president now directly owns 3,101 shares in the company, valued at $1,529,599.26. The disclosure for this sale can be found here. Insiders sold a total of 26,319 shares of company stock valued at $13,176,673 over the last 90 days. Company insiders own 1.70% of the company’s stock.
Intuitive Surgical Profile
Intuitive Surgical, Inc designs, manufactures, and markets da Vinci surgical systems, and related instruments and accessories. Its da Vinci Surgical System transforms the surgeon's natural hand movements outside the body into corresponding micro-movements inside the patient's body. The company's da Vinci Surgical System include surgeon's consoles, patient-side carts, 3-D vision systems, da Vinci skills simulators, da Vinci Xi integrated table motions, and Firefly fluorescence imaging products that enable surgeons to perform various surgical procedures, including gynecologic, urologic, general, cardiothoracic, and head and neck surgical procedures.
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