Mitsubishi UFJ Asset Management Co. Ltd. Purchases 23,016 Shares of Intuitive Surgical, Inc. $ISRG

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 880,331 shares of the medical equipment provider’s stock after purchasing an additional 23,016 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.25% of Intuitive Surgical worth $494,728,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Rakuten Investment Management Inc. acquired a new stake in Intuitive Surgical during the third quarter worth $388,436,000. Assenagon Asset Management S.A. lifted its holdings 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 worth $868,667,000 after acquiring an additional 791,516 shares during the period. Amundi lifted its holdings in shares of Intuitive Surgical by 29.7% during the 3rd quarter. Amundi now owns 3,227,472 shares of the medical equipment provider’s stock worth $1,451,362,000 after acquiring an additional 739,444 shares during the period. Sands Capital Management LLC boosted its position in shares of Intuitive Surgical by 77.0% during the 3rd quarter. Sands Capital Management LLC now owns 1,341,109 shares of the medical equipment provider’s stock valued at $599,784,000 after acquiring an additional 583,539 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in Intuitive Surgical by 41.3% in 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 acquiring an additional 567,483 shares during the period. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Amy L. Ladd sold 119 shares of the business’s stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $463.50, for a total transaction of $55,156.50. Following the completion of the sale, the director directly owned 120 shares of the company’s stock, valued at $55,620. The trade was a 49.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Fredrik Widman sold 133 shares of the stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $494.96, for a total transaction of $65,829.68. Following the completion of the transaction, the vice president owned 660 shares in the company, valued at $326,673.60. This represents a 16.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 5,906 shares of company stock worth $2,907,726. Corporate insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

ISRG has been the topic of several analyst reports. Leerink Partners lowered their price objective on Intuitive Surgical from $622.00 to $573.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 22nd. Jefferies Financial Group decreased their price target on Intuitive Surgical from $560.00 to $515.00 and set a “hold” rating on the stock in a research report on Wednesday, April 22nd. Evercore cut their price objective on Intuitive Surgical from $550.00 to $480.00 and set a “neutral” rating for the company in a research report on Monday, April 6th. Argus reduced their price objective on Intuitive Surgical from $630.00 to $560.00 and set a “buy” rating on the stock in a research note on Wednesday, February 4th. Finally, JPMorgan Chase & Co. lowered their target price on Intuitive Surgical from $625.00 to $550.00 and set an “overweight” rating for the company in a research note on Wednesday, April 22nd. Eighteen 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $581.91.

Intuitive Surgical Stock Performance

Shares of ISRG opened at $451.38 on Wednesday. The business’s fifty day moving average price is $473.81 and its two-hundred day moving average price is $517.22. The firm has a market capitalization of $159.86 billion, a price-to-earnings ratio of 54.71, a PEG ratio of 3.61 and a beta of 1.51. Intuitive Surgical, Inc. has a 52 week low of $427.84 and a 52 week high of $603.88.

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

Intuitive Surgical Company 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.