Rakuten Investment Management Inc. Takes $388.44 Million Position in Intuitive Surgical, Inc. $ISRG

Rakuten Investment Management Inc. purchased a new position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 868,538 shares of the medical equipment provider’s stock, valued at approximately $388,436,000. Intuitive Surgical makes up 1.3% of Rakuten Investment Management Inc.’s portfolio, making the stock its 8th largest position.

Several other institutional investors have also added to or reduced their stakes in the company. Tobam boosted its holdings in shares of Intuitive Surgical by 666.7% in the 2nd quarter. Tobam now owns 46 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 40 shares in the last quarter. Kilter Group LLC bought a new stake in shares of Intuitive Surgical during the 2nd quarter worth $27,000. Princeton Global Asset Management LLC acquired a new stake in Intuitive Surgical in the second quarter valued at about $30,000. Riggs Asset Managment Co. Inc. grew its position in Intuitive Surgical by 84.2% in the second quarter. Riggs Asset Managment Co. Inc. now owns 70 shares of the medical equipment provider’s stock valued at $38,000 after acquiring an additional 32 shares during the last quarter. Finally, First Command Advisory Services Inc. raised its stake in Intuitive Surgical by 3,750.0% during the second quarter. First Command Advisory Services Inc. now owns 77 shares of the medical equipment provider’s stock worth $42,000 after acquiring an additional 75 shares in the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ISRG shares. Zacks Research upgraded shares of Intuitive Surgical from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 24th. Barclays restated an “overweight” rating and issued a $686.00 target price (up previously from $635.00) on shares of Intuitive Surgical in a research report on Wednesday, January 7th. Royal Bank Of Canada upped their price target 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. Mizuho set a $575.00 price objective on Intuitive Surgical in a report on Wednesday, October 22nd. Finally, UBS Group reaffirmed a “neutral” rating on shares of Intuitive Surgical in a report on Thursday, January 15th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $622.17.

Intuitive Surgical Stock Down 1.4%

NASDAQ ISRG opened at $527.44 on Wednesday. The company has a market capitalization of $189.08 billion, a price-to-earnings ratio of 69.77, a PEG ratio of 4.35 and a beta of 1.67. Intuitive Surgical, Inc. has a twelve month low of $425.00 and a twelve month high of $616.00. The stock has a fifty day simple moving average of $564.60 and a 200 day simple moving average of $511.68.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings results on Tuesday, October 21st. The medical equipment provider reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.41. Intuitive Surgical had a return on equity of 15.08% and a net margin of 28.58%.The firm had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the previous year, the company posted $1.84 EPS. The business’s revenue was up 22.9% on a year-over-year basis. Research analysts expect that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Gary S. Guthart sold 22,806 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $570.89, for a total value of $13,019,717.34. Following the transaction, the insider owned 2,694 shares in the company, valued at approximately $1,537,977.66. The trade was a 89.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Henry L. Charlton sold 13,731 shares of the stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $580.00, for a total transaction of $7,963,980.00. Following the sale, the executive vice president owned 3,056 shares of the company’s stock, valued at approximately $1,772,480. This trade represents a 81.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 114,007 shares of company stock valued at $63,533,844 over the last three months. 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.