Resona Asset Management Co. Ltd. Purchases 8,240 Shares of Intuitive Surgical, Inc. $ISRG

Resona Asset Management Co. Ltd. lifted its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 3.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 220,359 shares of the medical equipment provider’s stock after buying an additional 8,240 shares during the period. Resona Asset Management Co. Ltd. owned approximately 0.06% of Intuitive Surgical worth $101,125,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ISRG. State Street Corp grew its stake in Intuitive Surgical by 1.0% during the 4th quarter. State Street Corp now owns 15,701,591 shares of the medical equipment provider’s stock worth $8,892,753,000 after buying an additional 162,264 shares during the last quarter. Capital World Investors increased its position in Intuitive Surgical by 1.7% during the 4th quarter. Capital World Investors now owns 7,856,018 shares of the medical equipment provider’s stock valued at $4,449,491,000 after buying an additional 127,526 shares in the last quarter. Norges Bank purchased a new stake in Intuitive Surgical in the fourth quarter valued at about $2,856,987,000. Invesco Ltd. raised its stake in Intuitive Surgical by 17.4% in the fourth quarter. Invesco Ltd. now owns 4,128,735 shares of the medical equipment provider’s stock valued at $2,338,350,000 after buying an additional 611,268 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Intuitive Surgical by 9.4% in the fourth quarter. Wellington Management Group LLP now owns 3,445,880 shares of the medical equipment provider’s stock worth $1,951,609,000 after acquiring an additional 294,651 shares in the last quarter. Institutional investors own 83.64% of the company’s stock.

Insider Buying and Selling

In other Intuitive Surgical news, EVP Gary Loeb sold 400 shares of Intuitive Surgical stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $424.14, for a total transaction of $169,656.00. Following the completion of the sale, the executive vice president directly owned 5,720 shares in the company, valued at approximately $2,426,080.80. The trade was a 6.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 on Monday, June 1st. The shares were sold at an average price of $420.55, for a total transaction of $2,365,593.75. Following the completion of the sale, the senior vice president directly owned 6,463 shares in the company, valued at $2,718,014.65. This trade represents a 46.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 7,169 shares of company stock worth $3,059,135. 0.60% of the stock is owned by company insiders.

Intuitive Surgical Stock Performance

Intuitive Surgical stock opened at $415.10 on Thursday. The business’s 50-day simple moving average is $424.14 and its two-hundred day simple moving average is $476.26. The company has a market cap of $147.01 billion, a PE ratio of 50.32, a PEG ratio of 3.48 and a beta of 1.46. Intuitive Surgical, Inc. has a fifty-two week low of $396.68 and a fifty-two week high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.42. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The firm had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same period last year, the business posted $1.81 earnings per share. The company’s revenue for the quarter was up 23.0% compared to the same quarter last year. As a group, analysts predict that Intuitive Surgical, Inc. will post 8.57 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. BMO Capital Markets started coverage on Intuitive Surgical in a research note on Wednesday. They set an “outperform” rating and a $518.00 price target on the stock. JPMorgan Chase & Co. lowered their target price on shares of Intuitive Surgical from $625.00 to $550.00 and set an “overweight” rating for the company in a research note on Wednesday, April 22nd. BTIG Research reissued a “buy” rating and set a $574.00 target price on shares of Intuitive Surgical in a research report on Wednesday, April 22nd. TD Cowen dropped their target price on shares of Intuitive Surgical from $660.00 to $585.00 and set a “buy” rating on the stock in a research report on Wednesday, April 22nd. Finally, Bank of America cut their price target on shares of Intuitive Surgical from $520.00 to $515.00 in a research note on Friday, June 12th. Twenty research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $569.20.

Intuitive Surgical Company 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.