IFM Investors Pty Ltd Boosts Stock Holdings in Intuitive Surgical, Inc. $ISRG

IFM Investors Pty Ltd grew its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 2.7% during the first quarter, Holdings Channel reports. The institutional investor owned 76,149 shares of the medical equipment provider’s stock after purchasing an additional 1,996 shares during the quarter. IFM Investors Pty Ltd’s holdings in Intuitive Surgical were worth $35,104,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. State Street Corp grew its position 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 acquiring an additional 162,264 shares during the last quarter. Capital World Investors lifted its position in Intuitive Surgical by 1.7% in the fourth quarter. Capital World Investors now owns 7,856,018 shares of the medical equipment provider’s stock valued at $4,449,491,000 after purchasing an additional 127,526 shares during the last quarter. Norges Bank bought a new stake in Intuitive Surgical in the fourth quarter valued at approximately $2,856,987,000. Invesco Ltd. boosted its stake 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 valued at $2,338,350,000 after purchasing an additional 611,268 shares during the period. Finally, Wellington Management Group LLP boosted its stake 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 valued at $1,951,609,000 after purchasing an additional 294,651 shares during the period. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on ISRG shares. Citigroup raised shares of Intuitive Surgical from a “neutral” rating to a “buy” rating and set a $590.00 target price on the stock in a research note on Wednesday, March 11th. Wall Street Zen raised shares of Intuitive Surgical from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. UBS Group cut their price target on shares of Intuitive Surgical from $570.00 to $550.00 and set a “neutral” rating on the stock in a report on Tuesday, March 17th. Robert W. Baird boosted their price objective on shares of Intuitive Surgical from $575.00 to $610.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Intuitive Surgical from $625.00 to $550.00 and set an “overweight” rating for the company in a research note 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 assigned a Sell rating to the company. According to MarketBeat, Intuitive Surgical has an average rating of “Moderate Buy” and a consensus price target of $573.42.

Intuitive Surgical Stock Down 2.0%

Shares of Intuitive Surgical stock opened at $397.68 on Wednesday. The business has a 50 day moving average of $430.20 and a 200 day moving average of $481.84. Intuitive Surgical, Inc. has a 52 week low of $396.68 and a 52 week high of $603.88. The company has a market cap of $140.84 billion, a PE ratio of 48.20, a P/E/G ratio of 3.30 and a beta of 1.46.

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

Insider Transactions at Intuitive Surgical

In other news, Director Amy L. Ladd sold 119 shares of Intuitive Surgical stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $463.50, for a total transaction of $55,156.50. Following the sale, the director owned 120 shares of the company’s stock, valued at approximately $55,620. The trade was a 49.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $424.14, for a total transaction of $169,656.00. Following the transaction, the executive vice president owned 5,720 shares in the company, valued at $2,426,080.80. This represents a 6.54% decrease in their position. The SEC filing for this sale provides additional information. 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 valued at $3,059,135. Company 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.