Y Intercept Hong Kong Ltd Acquires Shares of 31,951 Intuitive Surgical, Inc. $ISRG

Y Intercept Hong Kong Ltd bought a new position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) in the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 31,951 shares of the medical equipment provider’s stock, valued at approximately $14,729,000.

Several other large investors also recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in shares of Intuitive Surgical by 1.0% in the fourth quarter. State Street Corp now owns 15,701,591 shares of the medical equipment provider’s stock valued at $8,892,753,000 after purchasing an additional 162,264 shares during the period. Capital World Investors raised its holdings in shares of 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 acquiring an additional 127,526 shares in the last quarter. Norges Bank bought a new stake in shares of Intuitive Surgical in the fourth quarter valued at about $2,856,987,000. Invesco Ltd. lifted its position in shares of Intuitive Surgical by 17.4% in the 4th quarter. Invesco Ltd. now owns 4,128,735 shares of the medical equipment provider’s stock worth $2,338,350,000 after purchasing an additional 611,268 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in 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 buying an additional 294,651 shares during the period. 83.64% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Intuitive Surgical

In other Intuitive Surgical news, SVP Iman Jeddi sold 5,625 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $420.55, for a total value of $2,365,593.75. Following the completion of the transaction, the senior vice president directly owned 6,463 shares of the company’s stock, valued at approximately $2,718,014.65. The trade was a 46.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total value of $169,656.00. Following the completion of the sale, the executive vice president owned 5,720 shares in the company, valued at approximately $2,426,080.80. This represents a 6.54% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 7,169 shares of company stock worth $3,059,135 over the last quarter. 0.60% of the stock is currently owned by insiders.

Intuitive Surgical Trading Up 5.9%

Shares of NASDAQ ISRG opened at $426.01 on Friday. Intuitive Surgical, Inc. has a 12 month low of $396.68 and a 12 month high of $603.88. The company has a 50 day simple moving average of $428.43 and a two-hundred day simple moving average of $480.00. The stock has a market cap of $150.88 billion, a price-to-earnings ratio of 51.64, a PEG ratio of 3.27 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 EPS 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 the consensus estimate of $2.62 billion. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The business’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.81 EPS. Analysts forecast that Intuitive Surgical, Inc. will post 8.57 EPS for the current year.

Intuitive Surgical News Roundup

Here are the key news stories impacting Intuitive Surgical this week:

• Positive Sentiment: Analysts say Intuitive Surgical has a strong earnings-surprise track record and could beat estimates again in its upcoming report. Why Intuitive Surgical (ISRG) Could Beat Earnings Estimates Again
• Positive Sentiment: Investors appear to be buying ahead of the company’s July 16 earnings call, likely betting on continued procedure growth, da Vinci 5 adoption, and another solid update. Intuitive Surgical Gains as Investors Appear to Position for Mid-July Earnings
• Neutral Sentiment: Commentary from an investor letter and market recaps referenced Intuitive Surgical’s recent trading weakness and below-consensus forecast concerns, but these pieces did not add a fresh operational catalyst. Intuitive Surgical (ISRG) Fell on Below-Consensus Forecast
• Negative Sentiment: Some recent coverage notes ongoing pressure from regulatory scrutiny over instrument reuse and competitive concerns in China, which may be weighing on sentiment despite the company’s strong fundamentals. Intuitive Surgical (ISRG) Fell on Below-Consensus Forecast

Wall Street Analyst Weigh In

Several brokerages have weighed in on ISRG. Barclays set a $651.00 target price on shares of Intuitive Surgical and gave the company an “overweight” rating in a research note on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Intuitive Surgical from $440.00 to $366.00 and set a “sell” rating for the company in a research report on Tuesday, June 2nd. JPMorgan Chase & Co. dropped their target price on shares of Intuitive Surgical from $625.00 to $550.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 22nd. HSBC cut their price target on shares of Intuitive Surgical from $653.00 to $604.00 and set a “buy” rating on the stock in a research note on Wednesday, April 22nd. Finally, Citigroup raised shares of Intuitive Surgical from a “neutral” rating to a “buy” rating and set a $590.00 price target for the company in a report on Wednesday, March 11th. Nineteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $573.42.

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.