Resona Asset Management Co. Ltd. Invests $101.61 Million in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Resona Asset Management Co. Ltd. purchased a new stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 193,742 shares of the medical equipment provider’s stock, valued at approximately $101,613,000. Intuitive Surgical makes up approximately 0.6% of Resona Asset Management Co. Ltd.’s investment portfolio, making the stock its 26th biggest holding. Resona Asset Management Co. Ltd. owned about 0.05% of Intuitive Surgical as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Howard Capital Management Group LLC raised its stake in Intuitive Surgical by 4.5% during the 3rd quarter. Howard Capital Management Group LLC now owns 2,125 shares of the medical equipment provider’s stock worth $1,044,000 after acquiring an additional 92 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Intuitive Surgical by 1.5% during the third quarter. Principal Financial Group Inc. now owns 602,393 shares of the medical equipment provider’s stock worth $295,938,000 after purchasing an additional 9,194 shares in the last quarter. Integrated Wealth Concepts LLC lifted its holdings in shares of Intuitive Surgical by 1.9% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 4,821 shares of the medical equipment provider’s stock valued at $2,369,000 after purchasing an additional 90 shares during the last quarter. IHT Wealth Management LLC boosted its position in shares of Intuitive Surgical by 33.8% in the 3rd quarter. IHT Wealth Management LLC now owns 2,427 shares of the medical equipment provider’s stock valued at $1,188,000 after purchasing an additional 613 shares during the period. Finally, Quarry LP grew its stake in Intuitive Surgical by 320.0% during the 3rd quarter. Quarry LP now owns 483 shares of the medical equipment provider’s stock worth $237,000 after buying an additional 368 shares during the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Jefferies Financial Group boosted their price objective on Intuitive Surgical from $475.00 to $575.00 in a research note on Monday, January 27th. UBS Group raised their price objective on shares of Intuitive Surgical from $500.00 to $560.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Evercore ISI upped their target price on shares of Intuitive Surgical from $490.00 to $530.00 in a report on Monday, January 27th. Barclays raised their price target on Intuitive Surgical from $610.00 to $674.00 in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. upped their price objective on Intuitive Surgical from $575.00 to $675.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $611.86.

Intuitive Surgical Price Performance

ISRG opened at $451.58 on Friday. Intuitive Surgical, Inc. has a 1-year low of $364.17 and a 1-year high of $616.00. The stock has a market cap of $160.84 billion, a P/E ratio of 70.45, a P/E/G ratio of 5.85 and a beta of 1.55. The stock’s 50 day simple moving average is $545.18 and its 200 day simple moving average is $532.30.

Insider Buying and Selling at Intuitive Surgical

In related news, EVP Robert Desantis sold 11,545 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $499.22, for a total value of $5,763,494.90. Following the sale, the executive vice president now directly owns 5,224 shares in the company, valued at $2,607,925.28. The trade was a 68.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jamie Samath sold 94 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $571.11, for a total transaction of $53,684.34. Following the transaction, the chief financial officer now owns 2,630 shares of the company’s stock, valued at $1,502,019.30. This trade represents a 3.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,754 shares of company stock valued at $17,691,621. Insiders own 0.70% of the company’s stock.

Intuitive Surgical Profile

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.