Mitsubishi UFJ Trust & Banking Corp Trims Stake in Intuitive Surgical, Inc. $ISRG

Mitsubishi UFJ Trust & Banking Corp reduced its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 9.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 243,611 shares of the medical equipment provider’s stock after selling 25,850 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Intuitive Surgical were worth $132,381,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Intuitive Surgical by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 32,665,531 shares of the medical equipment provider’s stock worth $16,178,258,000 after acquiring an additional 453,335 shares in the last quarter. Invesco Ltd. grew its stake in Intuitive Surgical by 1.7% in the first quarter. Invesco Ltd. now owns 4,219,974 shares of the medical equipment provider’s stock worth $2,090,027,000 after purchasing an additional 71,794 shares during the period. Northern Trust Corp raised its holdings in Intuitive Surgical by 0.3% in the first quarter. Northern Trust Corp now owns 3,631,281 shares of the medical equipment provider’s stock worth $1,798,465,000 after purchasing an additional 11,988 shares in the last quarter. Wellington Management Group LLP lifted its position in Intuitive Surgical by 15.0% during the first quarter. Wellington Management Group LLP now owns 3,499,052 shares of the medical equipment provider’s stock valued at $1,732,975,000 after buying an additional 457,080 shares during the period. Finally, Nuveen LLC bought a new stake in shares of Intuitive Surgical during the 1st quarter valued at $1,715,899,000. 83.64% of the stock is owned by institutional investors.

Intuitive Surgical Stock Performance

Shares of NASDAQ ISRG opened at $572.17 on Wednesday. The firm’s 50 day moving average price is $476.01 and its 200-day moving average price is $502.00. Intuitive Surgical, Inc. has a 52-week low of $425.00 and a 52-week high of $616.00. The company has a market cap of $205.11 billion, a PE ratio of 75.68, a P/E/G ratio of 4.94 and a beta of 1.62.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings results on Tuesday, October 21st. The medical equipment provider reported $2.40 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.41. The company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.41 billion. Intuitive Surgical had a net margin of 28.58% and a return on equity of 15.08%. The firm’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.84 earnings per share. On average, analysts forecast that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ISRG has been the subject of several research reports. Wall Street Zen lowered shares of Intuitive Surgical from a “buy” rating to a “hold” rating in a research note on Saturday. Evercore ISI upped their price objective on shares of Intuitive Surgical from $450.00 to $540.00 in a report on Wednesday, October 22nd. The Goldman Sachs Group raised their target price on shares of Intuitive Surgical from $567.00 to $621.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Hsbc Global Res upgraded shares of Intuitive Surgical to a “strong-buy” rating in a report on Thursday, October 23rd. Finally, Robert W. Baird set a $655.00 price target on Intuitive Surgical in a research report on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $608.92.

Insiders Place Their Bets

In other news, CEO David J. Rosa sold 24,500 shares of the business’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $547.55, for a total value of $13,414,975.00. Following the completion of the transaction, the chief executive officer owned 234,256 shares in the company, valued at $128,266,872.80. The trade was a 9.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Gary S. Guthart sold 2,800 shares of the company’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $546.27, for a total value of $1,529,556.00. Following the transaction, the insider directly owned 17,120 shares in the company, valued at approximately $9,352,142.40. The trade was a 14.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 98,078 shares of company stock worth $51,445,892. 0.70% of the stock is owned by corporate insiders.

About Intuitive Surgical

Intuitive Surgical, Inc develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally. The company offers the da Vinci Surgical System that enables complex surgery using a minimally invasive approach; and Ion endoluminal system, which extends its commercial offerings beyond surgery into diagnostic procedures enabling minimally invasive biopsies in the lung.