Sumitomo Mitsui Trust Group Inc. Buys 10,214 Shares of Intuitive Surgical, Inc. $ISRG

Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 0.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,447,632 shares of the medical equipment provider’s stock after acquiring an additional 10,214 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.40% of Intuitive Surgical worth $647,424,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Elite Wealth Management Inc. boosted its position in Intuitive Surgical by 108.7% in the third quarter. Elite Wealth Management Inc. now owns 17,129 shares of the medical equipment provider’s stock valued at $7,661,000 after buying an additional 8,923 shares in the last quarter. First Horizon Corp acquired a new stake in shares of Intuitive Surgical during the third quarter worth approximately $1,675,000. MGO One Seven LLC raised its stake in shares of Intuitive Surgical by 19.1% in the third quarter. MGO One Seven LLC now owns 3,976 shares of the medical equipment provider’s stock valued at $1,778,000 after acquiring an additional 637 shares during the last quarter. Citizens Financial Group Inc. RI boosted its holdings in shares of Intuitive Surgical by 5.3% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 15,738 shares of the medical equipment provider’s stock worth $7,039,000 after acquiring an additional 795 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in Intuitive Surgical by 35.4% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 9,341 shares of the medical equipment provider’s stock worth $4,178,000 after acquiring an additional 2,440 shares during the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ISRG. UBS Group set a $600.00 price objective on Intuitive Surgical and gave the stock a “neutral” rating in a research note on Thursday, October 23rd. Royal Bank Of Canada increased their price objective on shares of Intuitive Surgical from $625.00 to $650.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Rothschild & Co Redburn boosted their target price on shares of Intuitive Surgical from $610.00 to $615.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Leerink Partners upped their target price on shares of Intuitive Surgical from $593.00 to $600.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Finally, Barclays reissued an “overweight” rating and issued a $686.00 price target (up previously from $635.00) on shares of Intuitive Surgical in a report on Wednesday. Two investment 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $622.17.

Intuitive Surgical Trading Up 0.2%

NASDAQ:ISRG opened at $586.24 on Monday. The firm has a market capitalization of $210.16 billion, a price-to-earnings ratio of 77.55, a PEG ratio of 4.77 and a beta of 1.67. Intuitive Surgical, Inc. has a 1-year low of $425.00 and a 1-year high of $616.00. The business’s 50-day moving average price is $565.95 and its two-hundred day moving average price is $511.38.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings data on Tuesday, October 21st. The medical equipment provider reported $2.40 earnings per share for the quarter, topping the consensus estimate 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 quarter last year, the firm earned $1.84 EPS. Intuitive Surgical’s quarterly revenue was up 22.9% compared to the same quarter last year. Sell-side analysts predict that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Insider Buying and Selling

In other Intuitive Surgical news, insider Gary S. Guthart sold 28,800 shares of the stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $547.56, for a total value of $15,769,728.00. Following the completion of the sale, the insider directly owned 27,027 shares in the company, valued at $14,798,904.12. This represents a 51.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mark Brosius sold 4,500 shares of Intuitive Surgical stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $547.36, for a total value of $2,463,120.00. Following the transaction, the senior vice president owned 907 shares in the company, valued at $496,455.52. This trade represents a 83.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 114,007 shares of company stock worth $63,533,844 over the last ninety days. Insiders own 0.70% of the company’s stock.

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.