Daiwa Securities Group Inc. lowered its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 47.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,390 shares of the medical equipment provider’s stock after selling 2,190 shares during the period. Daiwa Securities Group Inc.’s holdings in Intuitive Surgical were worth $2,236,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of ISRG. Guardian Life Insurance Co. of America raised its position in shares of Intuitive Surgical by 2.2% in the first quarter. Guardian Life Insurance Co. of America now owns 142 shares of the medical equipment provider’s stock valued at $109,000 after buying an additional 3 shares in the last quarter. D. Scott Neal Inc. bought a new position in shares of Intuitive Surgical during the second quarter valued at $120,000. Parallel Advisors LLC raised its position in shares of Intuitive Surgical by 10.1% in the first quarter. Parallel Advisors LLC now owns 153 shares of the medical equipment provider’s stock valued at $129,000 after buying an additional 14 shares in the last quarter. Huntington National Bank raised its position in shares of Intuitive Surgical by 14.1% in the first quarter. Huntington National Bank now owns 170 shares of the medical equipment provider’s stock valued at $130,000 after buying an additional 21 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Intuitive Surgical during the first quarter valued at $190,000. 96.08% of the stock is currently owned by institutional investors and hedge funds.
Intuitive Surgical, Inc. (NASDAQ ISRG) traded up 1.15% during mid-day trading on Friday, reaching $984.31. 385,160 shares of the company’s stock traded hands. The company has a market cap of $36.57 billion, a P/E ratio of 47.15 and a beta of 0.39. The stock has a 50 day moving average of $946.69 and a 200 day moving average of $844.19. Intuitive Surgical, Inc. has a 12-month low of $610.71 and a 12-month high of $993.00. Intuitive Surgical shares are scheduled to split on Thursday, August 31st. The 3-1 split was announced on Friday, August 11th. The newly minted shares will be distributed to shareholders after the market closes on Wednesday, August 30th.
Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings results on Thursday, July 20th. The medical equipment provider reported $5.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $5.79 by $0.16. The company had revenue of $756.20 million for the quarter, compared to the consensus estimate of $724.51 million. Intuitive Surgical had a net margin of 28.44% and a return on equity of 15.99%. Intuitive Surgical’s revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.62 earnings per share. On average, equities research analysts predict that Intuitive Surgical, Inc. will post $23.92 earnings per share for the current fiscal year.
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Several brokerages have recently weighed in on ISRG. Vetr upgraded shares of Intuitive Surgical from a “hold” rating to a “buy” rating and set a $1,020.34 price objective on the stock in a report on Thursday. Cantor Fitzgerald initiated coverage on shares of Intuitive Surgical in a report on Thursday, June 29th. They issued a “neutral” rating and a $1,000.00 target price on the stock. Morgan Stanley restated an “overweight” rating and issued a $1,070.00 target price (up previously from $950.00) on shares of Intuitive Surgical in a report on Tuesday, July 25th. Canaccord Genuity restated a “hold” rating and issued a $1,000.00 target price (up previously from $870.00) on shares of Intuitive Surgical in a report on Wednesday, July 26th. Finally, Barclays PLC upped their target price on shares of Intuitive Surgical from $870.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Friday, July 21st. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $980.61.
In other news, Director Amal M. Johnson sold 1,000 shares of the stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $917.27, for a total value of $917,270.00. Following the sale, the director now owns 3,787 shares of the company’s stock, valued at $3,473,701.49. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Jamie Samath sold 242 shares of the stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $949.01, for a total transaction of $229,660.42. Following the completion of the sale, the vice president now directly owns 23 shares in the company, valued at approximately $21,827.23. The disclosure for this sale can be found here. In the last three months, insiders sold 34,065 shares of company stock worth $31,659,090. Insiders own 2.50% of the company’s stock.
About Intuitive Surgical
Intuitive Surgical, Inc (Intuitive) designs, manufactures and markets da Vinci Surgical Systems, and related instruments and accessories. The Company’s da Vinci Surgical System consists of a surgeon’s console, a patient-side cart and a vision system. The da Vinci Surgical System translates a surgeon’s 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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