Sumitomo Mitsui Trust Group Inc. Purchases 45,359 Shares of Intuitive Surgical, Inc. $ISRG

Sumitomo Mitsui Trust Group Inc. lifted its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 3.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,465,816 shares of the medical equipment provider’s stock after purchasing an additional 45,359 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.41% of Intuitive Surgical worth $675,727,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of ISRG. Draper Asset Management LLC boosted its position in shares of Intuitive Surgical by 41.9% during the 4th quarter. Draper Asset Management LLC now owns 5,029 shares of the medical equipment provider’s stock valued at $2,848,000 after acquiring an additional 1,485 shares during the last quarter. Deutsche Bank AG raised its stake in Intuitive Surgical by 9.6% during the fourth quarter. Deutsche Bank AG now owns 1,522,191 shares of the medical equipment provider’s stock valued at $862,108,000 after purchasing an additional 132,966 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in Intuitive Surgical by 29.3% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 71,077 shares of the medical equipment provider’s stock valued at $40,255,000 after purchasing an additional 16,119 shares during the last quarter. Procyon Advisors LLC grew its stake in shares of Intuitive Surgical by 787.8% in the 4th quarter. Procyon Advisors LLC now owns 4,794 shares of the medical equipment provider’s stock worth $2,715,000 after buying an additional 4,254 shares in the last quarter. Finally, Robinhood Asset Management LLC purchased a new stake in shares of Intuitive Surgical during the 4th quarter valued at about $6,478,000. 83.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Gary Loeb sold 400 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total transaction of $169,656.00. Following the completion of the transaction, the executive vice president owned 5,720 shares in the company, valued at $2,426,080.80. The trade was a 6.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Iman Jeddi sold 5,625 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $420.55, for a total transaction of $2,365,593.75. Following the completion of the transaction, the senior vice president owned 6,463 shares in the company, valued at approximately $2,718,014.65. The trade was a 46.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 7,169 shares of company stock valued at $3,059,135. Insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ISRG shares. JPMorgan Chase & Co. reduced their price objective on Intuitive Surgical from $625.00 to $550.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft dropped their target price on Intuitive Surgical from $440.00 to $366.00 and set a “sell” rating for the company in a report on Tuesday, June 2nd. Mizuho set a $525.00 target price on Intuitive Surgical and gave the company a “neutral” rating in a research report on Monday, April 13th. BTIG Research restated a “buy” rating and set a $574.00 price target on shares of Intuitive Surgical in a report on Wednesday, April 22nd. Finally, Barclays set a $651.00 price target on Intuitive Surgical and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. Twenty analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Intuitive Surgical has an average rating of “Moderate Buy” and an average target price of $569.20.

Intuitive Surgical Price Performance

Intuitive Surgical stock opened at $415.10 on Thursday. The firm has a market capitalization of $147.01 billion, a P/E ratio of 50.32, a price-to-earnings-growth ratio of 3.48 and a beta of 1.46. Intuitive Surgical, Inc. has a 1-year low of $396.68 and a 1-year high of $603.88. The company’s 50-day moving average is $424.14 and its 200 day moving average is $476.26.

Intuitive Surgical (NASDAQ:ISRG) last announced its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.42. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.62 billion. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The company’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.81 earnings per share. Research analysts anticipate that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current fiscal year.

About Intuitive Surgical

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.