Mirae Asset Global Investments Co. Ltd. Has $113.63 Million Stake in Intuitive Surgical, Inc. $ISRG

Mirae Asset Global Investments Co. Ltd. lifted its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 10.5% during the third quarter, HoldingsChannel.com reports. The fund owned 254,069 shares of the medical equipment provider’s stock after purchasing an additional 24,227 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Intuitive Surgical were worth $113,627,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ISRG. Vanguard Group Inc. grew its stake in Intuitive Surgical by 2.1% in the second quarter. Vanguard Group Inc. now owns 33,335,833 shares of the medical equipment provider’s stock valued at $18,115,025,000 after acquiring an additional 670,302 shares during the period. State Street Corp raised its holdings in Intuitive Surgical by 1.2% during the 2nd quarter. State Street Corp now owns 15,552,203 shares of the medical equipment provider’s stock worth $8,451,223,000 after buying an additional 182,871 shares during the period. Geode Capital Management LLC lifted its stake in Intuitive Surgical by 1.4% in the second quarter. Geode Capital Management LLC now owns 8,188,685 shares of the medical equipment provider’s stock valued at $4,429,590,000 after buying an additional 109,904 shares in the last quarter. Norges Bank acquired a new position in shares of Intuitive Surgical in the second quarter valued at approximately $2,569,260,000. Finally, Invesco Ltd. increased its position in shares of Intuitive Surgical by 4.8% during the second quarter. Invesco Ltd. now owns 4,421,133 shares of the medical equipment provider’s stock worth $2,402,488,000 after acquiring an additional 201,159 shares in the last quarter. Institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Stock Performance

ISRG opened at $525.42 on Wednesday. Intuitive Surgical, Inc. has a 52-week low of $425.00 and a 52-week high of $609.08. The firm has a market cap of $188.35 billion, a P/E ratio of 66.59, a price-to-earnings-growth ratio of 4.12 and a beta of 1.67. The business’s fifty day moving average is $561.53 and its 200-day moving average is $511.67.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings results on Thursday, January 22nd. The medical equipment provider reported $2.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.26. Intuitive Surgical had a return on equity of 15.06% and a net margin of 28.38%.The company had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.72 billion. During the same quarter last year, the company posted $2.21 EPS. The company’s revenue for the quarter was up 18.8% compared to the same quarter last year. On average, research analysts predict that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Royal Bank Of Canada lifted their price target on Intuitive Surgical from $625.00 to $650.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. Leerink Partners lifted their target price on Intuitive Surgical from $593.00 to $600.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. HSBC upped their price objective on Intuitive Surgical from $644.00 to $653.00 and gave the stock a “buy” rating in a research note on Monday. Raymond James Financial raised their target price on shares of Intuitive Surgical from $603.00 to $615.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Finally, Zacks Research lowered shares of Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $620.41.

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, insider Gary S. Guthart sold 22,806 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $570.89, for a total value of $13,019,717.34. Following the completion of the sale, the insider owned 2,694 shares in the company, valued at approximately $1,537,977.66. This trade represents a 89.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Mark Brosius sold 4,500 shares of the stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $547.36, for a total transaction of $2,463,120.00. Following the transaction, the senior vice president directly owned 907 shares of the company’s stock, valued at $496,455.52. This represents a 83.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 48,027 shares of company stock worth $27,402,696 in the last quarter. Company insiders own 0.70% of the company’s stock.

About Intuitive Surgical

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon’s hand movements into finer, scaled motions of small instruments inside the patient. Intuitive’s business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.