Sumitomo Mitsui DS Asset Management Company Ltd Grows Stake in Intuitive Surgical, Inc. $ISRG

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 1.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 71,874 shares of the medical equipment provider’s stock after acquiring an additional 1,299 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Intuitive Surgical were worth $40,707,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Rakuten Investment Management Inc. purchased a new stake in Intuitive Surgical during the third quarter valued at approximately $388,436,000. Assenagon Asset Management S.A. grew its position in shares of Intuitive Surgical by 106.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,533,771 shares of the medical equipment provider’s stock valued at $868,667,000 after acquiring an additional 791,516 shares during the period. Amundi increased its stake in shares of Intuitive Surgical by 29.7% in the 3rd quarter. Amundi now owns 3,227,472 shares of the medical equipment provider’s stock worth $1,451,362,000 after purchasing an additional 739,444 shares in the last quarter. Sands Capital Management LLC raised its holdings in Intuitive Surgical by 77.0% in the 3rd quarter. Sands Capital Management LLC now owns 1,341,109 shares of the medical equipment provider’s stock worth $599,784,000 after purchasing an additional 583,539 shares during the period. Finally, Victory Capital Management Inc. lifted its position in Intuitive Surgical by 41.3% during the third quarter. Victory Capital Management Inc. now owns 1,941,310 shares of the medical equipment provider’s stock valued at $868,212,000 after purchasing an additional 567,483 shares in the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ISRG shares. TD Cowen decreased their price objective on Intuitive Surgical from $660.00 to $585.00 and set a “buy” rating on the stock in a research note on Wednesday, April 22nd. Barclays set a $651.00 price target on Intuitive Surgical and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. Citigroup upgraded Intuitive Surgical from a “neutral” rating to a “buy” rating and set a $590.00 price objective on the stock in a research report on Wednesday, March 11th. Zacks Research lowered Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Finally, Robert W. Baird increased their target price on Intuitive Surgical from $575.00 to $610.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Eighteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Intuitive Surgical presently has a consensus rating of “Moderate Buy” and an average target price of $581.91.

Insider Buying and Selling at Intuitive Surgical

In related news, Director Amy L. Ladd sold 500 shares of the company’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $473.46, for a total transaction of $236,730.00. Following the transaction, the director directly owned 239 shares in the company, valued at approximately $113,156.94. This represents a 67.66% 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, SVP Mark Brosius sold 2,362 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $498.68, for a total value of $1,177,882.16. Following the sale, the senior vice president directly owned 3,554 shares of the company’s stock, valued at $1,772,308.72. This represents a 39.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 5,906 shares of company stock valued at $2,907,726. Insiders own 0.60% of the company’s stock.

Intuitive Surgical Stock Down 0.2%

ISRG opened at $451.38 on Wednesday. The company has a market capitalization of $159.86 billion, a PE ratio of 54.71, a price-to-earnings-growth ratio of 3.61 and a beta of 1.51. The firm has a 50-day simple moving average of $473.81 and a two-hundred day simple moving average of $517.22. Intuitive Surgical, Inc. has a 52 week low of $427.84 and a 52 week high of $603.88.

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

Intuitive Surgical Profile

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.