Sumitomo Mitsui DS Asset Management Company Ltd Purchases 8,168 Shares of Intuitive Surgical, Inc. $ISRG

Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 13.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,575 shares of the medical equipment provider’s stock after purchasing an additional 8,168 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Intuitive Surgical were worth $31,563,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC raised its holdings in Intuitive Surgical by 24.9% during the 4th quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider’s stock valued at $1,916,000 after acquiring an additional 731 shares during the period. SCS Capital Management LLC purchased a new position in shares of Intuitive Surgical in the first quarter valued at $521,000. Integrity Alliance LLC. bought a new stake in shares of Intuitive Surgical during the 1st quarter valued at $542,000. Geneos Wealth Management Inc. lifted its holdings in Intuitive Surgical by 22.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,952 shares of the medical equipment provider’s stock worth $967,000 after purchasing an additional 364 shares in the last quarter. Finally, Advisors Capital Management LLC boosted its stake in Intuitive Surgical by 126.3% in the 1st quarter. Advisors Capital Management LLC now owns 6,590 shares of the medical equipment provider’s stock worth $3,264,000 after purchasing an additional 3,678 shares during the period. Institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Stock Up 0.2%

ISRG opened at $586.24 on Friday. The business’s fifty day simple moving average is $565.95 and its 200 day simple moving average is $511.53. Intuitive Surgical, Inc. has a 52 week low of $425.00 and a 52 week high of $616.00. The stock has a market cap of $210.16 billion, a PE ratio of 77.55, a P/E/G ratio of 4.76 and a beta of 1.67.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings results on Tuesday, October 21st. The medical equipment provider reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.41. Intuitive Surgical had a return on equity of 15.08% and a net margin of 28.58%.The firm had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the previous year, the company posted $1.84 earnings per share. The company’s revenue was up 22.9% compared to the same quarter last year. As a group, equities analysts anticipate that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Insider Buying and Selling

In other Intuitive Surgical news, insider Gary S. Guthart sold 22,806 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was 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 of the company’s stock, valued at $1,537,977.66. This represents a 89.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Henry L. Charlton sold 13,731 shares of Intuitive Surgical stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $580.00, for a total transaction of $7,963,980.00. Following the transaction, the executive vice president directly owned 3,056 shares in the company, valued at $1,772,480. This trade represents a 81.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 114,007 shares of company stock worth $63,533,844 over the last ninety days. Corporate insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wall Street Zen cut Intuitive Surgical from a “buy” rating to a “hold” rating in a research report on Saturday, December 6th. Wells Fargo & Company upped their target price on shares of Intuitive Surgical from $600.00 to $654.00 and gave the stock an “overweight” rating in a report on Friday, December 12th. Robert W. Baird set a $655.00 target price on shares of Intuitive Surgical in a research note on Wednesday, October 22nd. Truist Financial raised their price target on shares of Intuitive Surgical from $620.00 to $650.00 and gave the company a “buy” rating in a report on Thursday, December 18th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $740.00 price target (up previously from $700.00) on shares of Intuitive Surgical in a report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Intuitive Surgical presently has a consensus rating of “Moderate Buy” and an average price target of $622.17.

Intuitive Surgical Company Profile

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.