868,538 Shares in Intuitive Surgical, Inc. $ISRG Purchased by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. acquired a new position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 868,538 shares of the medical equipment provider’s stock, valued at approximately $388,436,000. Intuitive Surgical comprises 1.3% of Rakuten Investment Management Inc.’s investment portfolio, making the stock its 8th biggest holding. Rakuten Investment Management Inc. owned about 0.24% of Intuitive Surgical as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of ISRG. SteelPeak Wealth LLC raised its position in Intuitive Surgical by 28.7% during the third quarter. SteelPeak Wealth LLC now owns 41,993 shares of the medical equipment provider’s stock worth $18,781,000 after acquiring an additional 9,364 shares in the last quarter. Eastover Investment Advisors LLC grew its position in shares of Intuitive Surgical by 204.8% in the 2nd quarter. Eastover Investment Advisors LLC now owns 13,163 shares of the medical equipment provider’s stock valued at $7,153,000 after acquiring an additional 8,844 shares during the period. Amalgamated Bank increased its stake in shares of Intuitive Surgical by 2.2% during the 2nd quarter. Amalgamated Bank now owns 81,542 shares of the medical equipment provider’s stock worth $44,311,000 after purchasing an additional 1,772 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of Intuitive Surgical by 89.3% in the 2nd quarter. Bessemer Group Inc. now owns 788,328 shares of the medical equipment provider’s stock valued at $428,386,000 after purchasing an additional 371,806 shares during the period. Finally, Sax Wealth Advisors LLC lifted its stake in Intuitive Surgical by 218.1% in the 2nd quarter. Sax Wealth Advisors LLC now owns 2,456 shares of the medical equipment provider’s stock valued at $1,334,000 after purchasing an additional 1,684 shares during the last quarter. Institutional investors own 83.64% of the company’s stock.

Wall Street Analyst Weigh In

ISRG has been the topic of several research analyst reports. Argus upped their price objective on Intuitive Surgical from $600.00 to $630.00 in a research note on Monday, October 27th. UBS Group restated a “neutral” rating on shares of Intuitive Surgical in a research note on Thursday, January 15th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Intuitive Surgical in a research report on Monday, December 29th. Daiwa Capital Markets increased their price objective on shares of Intuitive Surgical from $510.00 to $550.00 and gave the company an “outperform” rating in a research report on Friday, October 24th. Finally, Zacks Research upgraded shares of Intuitive Surgical from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 24th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Intuitive Surgical has an average rating of “Moderate Buy” and a consensus price target of $622.17.

Intuitive Surgical Price Performance

ISRG stock opened at $527.44 on Wednesday. The business’s fifty day moving average price is $564.60 and its two-hundred day moving average price is $511.68. The stock has a market capitalization of $189.08 billion, a price-to-earnings ratio of 69.77, a PEG ratio of 4.35 and a beta of 1.67. Intuitive Surgical, Inc. has a fifty-two week low of $425.00 and a fifty-two week high of $616.00.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings results on Tuesday, October 21st. The medical equipment provider reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.41. Intuitive Surgical had a net margin of 28.58% and a return on equity of 15.08%. The business had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period last year, the firm earned $1.84 earnings per share. Intuitive Surgical’s revenue for the quarter was up 22.9% compared to the same quarter last year. Research analysts expect that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

Insider Activity

In related news, SVP Mark Brosius sold 4,500 shares of the stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $547.36, for a total transaction of $2,463,120.00. Following the sale, the senior vice president owned 907 shares of the company’s stock, valued at $496,455.52. This represents a 83.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Henry L. Charlton sold 13,731 shares of Intuitive Surgical stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $580.00, for a total value of $7,963,980.00. Following the completion of the transaction, the executive vice president directly owned 3,056 shares of the company’s stock, valued at $1,772,480. This represents a 81.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 114,007 shares of company stock worth $63,533,844. Insiders own 0.70% 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.