FUKOKU MUTUAL LIFE INSURANCE Co Reduces Holdings in Intuitive Surgical, Inc. $ISRG

FUKOKU MUTUAL LIFE INSURANCE Co reduced its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRGFree Report) by 48.4% during the first quarter, HoldingsChannel reports. The firm owned 1,494 shares of the medical equipment provider’s stock after selling 1,400 shares during the quarter. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Intuitive Surgical were worth $689,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp increased its stake in Intuitive Surgical by 1.0% during the 4th quarter. State Street Corp now owns 15,701,591 shares of the medical equipment provider’s stock worth $8,892,753,000 after buying an additional 162,264 shares during the period. Capital World Investors boosted its position in Intuitive Surgical by 1.7% in the 4th quarter. Capital World Investors now owns 7,856,018 shares of the medical equipment provider’s stock valued at $4,449,491,000 after buying an additional 127,526 shares during the last quarter. Norges Bank acquired a new stake in shares of Intuitive Surgical during the fourth quarter valued at about $2,856,987,000. Invesco Ltd. increased its position in shares of Intuitive Surgical by 17.4% during the fourth quarter. Invesco Ltd. now owns 4,128,735 shares of the medical equipment provider’s stock worth $2,338,350,000 after acquiring an additional 611,268 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Intuitive Surgical by 9.4% during the fourth quarter. Wellington Management Group LLP now owns 3,445,880 shares of the medical equipment provider’s stock worth $1,951,609,000 after acquiring an additional 294,651 shares during the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Iman Jeddi sold 5,625 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $420.55, for a total transaction of $2,365,593.75. Following the transaction, the senior vice president directly owned 6,463 shares in the company, valued at $2,718,014.65. This trade represents a 46.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of Intuitive Surgical stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total transaction of $169,656.00. Following the completion of the transaction, the executive vice president directly owned 5,720 shares of the company’s stock, valued at approximately $2,426,080.80. This represents a 6.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 7,169 shares of company stock worth $3,059,135. 0.60% of the stock is currently owned by insiders.

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Intuitive Surgical Stock Performance

NASDAQ:ISRG opened at $426.01 on Friday. The company has a market capitalization of $150.88 billion, a price-to-earnings ratio of 51.64, a price-to-earnings-growth ratio of 3.47 and a beta of 1.46. Intuitive Surgical, Inc. has a one year low of $396.68 and a one year high of $603.88. The stock has a 50-day simple moving average of $427.27 and a 200 day simple moving average of $479.63.

Intuitive Surgical (NASDAQ:ISRGGet Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.42. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The firm had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter in the prior year, the firm posted $1.81 earnings per share. Intuitive Surgical’s revenue for the quarter was up 23.0% compared to the same quarter last year. On average, equities research analysts forecast that Intuitive Surgical, Inc. will post 8.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ISRG. Weiss Ratings reissued a “hold (c)” rating on shares of Intuitive Surgical in a report on Tuesday, May 19th. Wall Street Zen upgraded Intuitive Surgical from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Leerink Partners cut their target price on Intuitive Surgical from $622.00 to $573.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 22nd. The Goldman Sachs Group set a $558.00 target price on Intuitive Surgical in a research note on Wednesday, May 27th. Finally, Robert W. Baird raised their price target on shares of Intuitive Surgical from $575.00 to $610.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Nineteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $573.42.

Check Out Our Latest Stock Analysis on Intuitive Surgical

Intuitive Surgical Profile

(Free Report)

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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Institutional Ownership by Quarter for Intuitive Surgical (NASDAQ:ISRG)

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