NS Partners Ltd cut its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG – Free Report) by 35.8% during the 2nd quarter, Holdings Channel reports. The firm owned 45,873 shares of the medical equipment provider’s stock after selling 25,614 shares during the period. NS Partners Ltd’s holdings in Intuitive Surgical were worth $18,243,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the business. Deutsche Bank AG increased its position in Intuitive Surgical by 9.6% in the 4th quarter. Deutsche Bank AG now owns 1,522,191 shares of the medical equipment provider’s stock worth $862,108,000 after purchasing an additional 132,966 shares during the last quarter. Jag Capital Management LLC bought a new position in Intuitive Surgical during the fourth quarter valued at approximately $18,771,000. Sycomore Asset Management bought a new position in Intuitive Surgical during the fourth quarter valued at approximately $10,730,000. Plato Investment Management Ltd bought a new stake in Intuitive Surgical in the second quarter worth approximately $4,315,000. Finally, AustralianSuper Pty Ltd increased its stake in shares of Intuitive Surgical by 348.6% during the 4th quarter. AustralianSuper Pty Ltd now owns 50,400 shares of the medical equipment provider’s stock worth $28,545,000 after purchasing an additional 39,166 shares during the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on ISRG shares. JPMorgan Chase & Co. reduced their price objective on shares of Intuitive Surgical from $550.00 to $450.00 and set an “overweight” rating for the company in a research note on Friday, July 17th. Royal Bank Of Canada reduced their price target on Intuitive Surgical from $650.00 to $600.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. Leerink Partners cut their price objective on Intuitive Surgical from $573.00 to $454.00 and set an “outperform” rating on the stock in a research note on Friday, July 17th. Piper Sandler reaffirmed an “overweight” rating on shares of Intuitive Surgical in a research report on Friday, August 21st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Intuitive Surgical in a research report on Friday, August 14th. Twenty-two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Intuitive Surgical presently has an average rating of “Moderate Buy” and a consensus target price of $508.68.
Intuitive Surgical Trading Up 1.1%
Shares of Intuitive Surgical stock opened at $376.86 on Tuesday. The company’s fifty day simple moving average is $384.07 and its 200-day simple moving average is $431.50. The company has a market cap of $133.14 billion, a price-to-earnings ratio of 43.17, a PEG ratio of 2.69 and a beta of 1.47. Intuitive Surgical, Inc. has a 1 year low of $328.57 and a 1 year high of $603.88.
Intuitive Surgical (NASDAQ:ISRG – Get Free Report) last released its earnings results on Thursday, July 16th. The medical equipment provider reported $2.80 EPS for the quarter, beating the consensus estimate of $2.48 by $0.32. Intuitive Surgical had a net margin of 28.45% and a return on equity of 16.91%. The firm had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.83 billion. During the same period in the prior year, the company earned $1.81 EPS. The business’s quarterly revenue was up 18.4% compared to the same quarter last year. As a group, research analysts forecast that Intuitive Surgical, Inc. will post 8.87 earnings per share for the current fiscal year.
Insider Transactions at Intuitive Surgical
In other news, Director Amy L. Ladd sold 72 shares of Intuitive Surgical stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $393.10, for a total transaction of $28,303.20. Following the sale, the director owned 179 shares of the company’s stock, valued at approximately $70,364.90. This trade represents a 28.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $379.00, for a total value of $151,600.00. Following the completion of the transaction, the executive vice president directly owned 5,320 shares of the company’s stock, valued at approximately $2,016,280. This trade represents a 6.99% decrease in their ownership of the stock. 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 11,658 shares of company stock worth $4,649,835 over the last 90 days. Insiders own 0.60% 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.
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