Rhenman & Partners Asset Management AB Raises Stock Holdings in Intuitive Surgical, Inc. $ISRG

Rhenman & Partners Asset Management AB raised its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 9.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,500 shares of the medical equipment provider’s stock after buying an additional 4,150 shares during the quarter. Intuitive Surgical comprises 2.4% of Rhenman & Partners Asset Management AB’s portfolio, making the stock its 6th biggest position. Rhenman & Partners Asset Management AB’s holdings in Intuitive Surgical were worth $21,691,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Tobam boosted its position in shares of Intuitive Surgical by 666.7% during the second quarter. Tobam now owns 46 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 40 shares in the last quarter. Kilter Group LLC bought a new stake in shares of Intuitive Surgical in the 2nd quarter valued at $27,000. Greykasell Wealth Strategies Inc. acquired a new stake in Intuitive Surgical during the 3rd quarter worth $27,000. Caitlin John LLC acquired a new stake in Intuitive Surgical during the 3rd quarter worth $30,000. Finally, Riggs Asset Managment Co. Inc. lifted its holdings in Intuitive Surgical by 84.2% during the second quarter. Riggs Asset Managment Co. Inc. now owns 70 shares of the medical equipment provider’s stock worth $38,000 after acquiring an additional 32 shares in the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.

Insider Activity

In related news, SVP Patricia L. Wadors sold 220 shares of the firm’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $499.71, for a total value of $109,936.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Myriam Curet sold 421 shares of Intuitive Surgical stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $494.96, for a total value of $208,378.16. Following the transaction, the executive vice president owned 409 shares of the company’s stock, valued at $202,438.64. The trade was a 50.72% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 37,261 shares of company stock worth $19,690,721. Insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ISRG shares. The Goldman Sachs Group reissued a “buy” rating and issued a $714.00 target price on shares of Intuitive Surgical in a research note on Friday, January 9th. BTIG Research reiterated a “buy” rating and issued a $616.00 price objective on shares of Intuitive Surgical in a research report on Friday, January 23rd. Evercore dropped their target price on shares of Intuitive Surgical from $580.00 to $550.00 and set an “in-line” rating on the stock in a report on Friday, January 23rd. Robert W. Baird reduced their price target on shares of Intuitive Surgical from $655.00 to $645.00 and set an “outperform” rating for the company in a report on Friday, January 23rd. Finally, Barclays set a $712.00 price objective on shares of Intuitive Surgical and gave the stock an “overweight” rating in a report on Monday, January 26th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $615.86.

Intuitive Surgical Stock Performance

ISRG opened at $490.16 on Friday. Intuitive Surgical, Inc. has a 52-week low of $425.00 and a 52-week high of $603.88. The firm has a market capitalization of $174.07 billion, a PE ratio of 62.12, a PEG ratio of 3.78 and a beta of 1.66. The business’s 50-day simple moving average is $521.64 and its 200 day simple moving average is $512.28.

Intuitive Surgical (NASDAQ:ISRG) last released its earnings results on Thursday, January 22nd. The medical equipment provider reported $2.53 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.26. Intuitive Surgical had a net margin of 28.38% and a return on equity of 15.06%. The business had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.72 billion. During the same period last year, the business earned $2.21 earnings per share. The firm’s revenue was up 18.8% on a year-over-year basis. On average, research analysts forecast that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current 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.