VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Intuitive Surgical, Inc. $ISRG

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 36,000 shares of the medical equipment provider’s stock, valued at approximately $14,316,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. California State Teachers Retirement System grew its position in shares of Intuitive Surgical by 39,531.1% in the 2nd quarter. California State Teachers Retirement System now owns 213,725,958 shares of the medical equipment provider’s stock worth $84,994,539,000 after buying an additional 213,186,670 shares during the last quarter. Norges Bank purchased a new stake in Intuitive Surgical during the fourth quarter valued at approximately $2,856,987,000. Bank of New York Mellon Corp purchased a new stake in Intuitive Surgical during the second quarter valued at approximately $1,335,753,000. J. Stern & Co. LLP boosted its stake in Intuitive Surgical by 18,504.6% in the fourth quarter. J. Stern & Co. LLP now owns 2,127,248 shares of the medical equipment provider’s stock valued at $1,204,788,000 after acquiring an additional 2,115,814 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Intuitive Surgical by 1,043.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,342,121 shares of the medical equipment provider’s stock valued at $760,124,000 after acquiring an additional 1,224,734 shares in the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Insider Transactions at Intuitive Surgical

In other news, EVP Gary Loeb sold 400 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $379.00, for a total value of $151,600.00. Following the completion of the sale, the executive vice president directly owned 5,320 shares in the company, valued at $2,016,280. This represents a 6.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Brosius sold 77 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $375.57, for a total value of $28,918.89. Following the completion of the sale, the executive vice president directly owned 881 shares of the company’s stock, valued at $330,877.17. This trade represents a 8.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 11,635 shares of company stock worth $4,640,172. 0.60% of the stock is owned by insiders.

Intuitive Surgical Price Performance

ISRG opened at $366.70 on Tuesday. The firm has a fifty day moving average price of $380.66 and a 200 day moving average price of $427.31. Intuitive Surgical, Inc. has a 1 year low of $328.57 and a 1 year high of $603.88. The stock has a market cap of $129.55 billion, a P/E ratio of 42.00, a P/E/G ratio of 2.77 and a beta of 1.47.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings results on Thursday, July 16th. The medical equipment provider reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.32. The company had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.83 billion. Intuitive Surgical had a return on equity of 16.91% and a net margin of 28.45%.Intuitive Surgical’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.81 EPS. Equities analysts expect that Intuitive Surgical, Inc. will post 8.87 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their price target on Intuitive Surgical from $550.00 to $450.00 and set an “overweight” rating on the stock in a research report on Friday, July 17th. Truist Financial lowered their price objective on Intuitive Surgical from $580.00 to $510.00 and set a “buy” rating for the company in a research report on Thursday, July 16th. Sanford C. Bernstein restated an “outperform” rating on shares of Intuitive Surgical in a research note on Wednesday, August 12th. Citigroup reduced their target price on Intuitive Surgical from $590.00 to $500.00 and set a “buy” rating on the stock in a research report on Friday, July 17th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Intuitive Surgical in a report on Friday, August 14th. Twenty-two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $508.68.

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.