Munich Reinsurance Co Stock Corp in Munich Purchases 31,396 Shares of Intuitive Surgical, Inc. $ISRG

Munich Reinsurance Co Stock Corp in Munich grew its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 48.0% in the second quarter, HoldingsChannel reports. The fund owned 96,745 shares of the medical equipment provider’s stock after buying an additional 31,396 shares during the period. Munich Reinsurance Co Stock Corp in Munich’s holdings in Intuitive Surgical were worth $38,474,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of ISRG. Norges Bank bought a new stake in Intuitive Surgical in the 4th quarter valued at about $2,856,987,000. Bank of New York Mellon Corp acquired a new position in shares of Intuitive Surgical during the 2nd quarter worth approximately $1,335,753,000. J. Stern & Co. LLP increased its holdings in shares of Intuitive Surgical by 18,504.6% during the fourth quarter. J. Stern & Co. LLP now owns 2,127,248 shares of the medical equipment provider’s stock worth $1,204,788,000 after purchasing an additional 2,115,814 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Intuitive Surgical by 1,043.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,342,121 shares of the medical equipment provider’s stock worth $760,124,000 after purchasing an additional 1,224,734 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Intuitive Surgical by 95.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,105,544 shares of the medical equipment provider’s stock valued at $970,635,000 after buying an additional 1,027,475 shares in the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Intuitive Surgical Trading Down 0.8%

Shares of Intuitive Surgical stock opened at $366.70 on Friday. The company has a 50 day moving average of $381.44 and a 200-day moving average of $428.60. Intuitive Surgical, Inc. has a 1-year low of $328.57 and a 1-year high of $603.88. The company has a market cap of $129.55 billion, a PE ratio of 42.00, a price-to-earnings-growth ratio of 2.79 and a beta of 1.47.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings data on Thursday, July 16th. The medical equipment provider reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.32. The business had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.83 billion. Intuitive Surgical had a net margin of 28.45% and a return on equity of 16.91%. The firm’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same period last year, the firm posted $1.81 earnings per share. Research analysts forecast that Intuitive Surgical, Inc. will post 8.87 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Piper Sandler reiterated an “overweight” rating on shares of Intuitive Surgical in a research note on Friday, August 21st. Robert W. Baird lowered their price objective on Intuitive Surgical from $525.00 to $500.00 and set an “outperform” rating on the stock in a research note on Friday, July 17th. Citigroup dropped their price objective on Intuitive Surgical from $590.00 to $500.00 and set a “buy” rating for the company in a report on Friday, July 17th. TD Cowen downgraded Intuitive Surgical from a “buy” rating to a “hold” rating in a research report on Tuesday, July 28th. Finally, BTIG Research reduced their target price on Intuitive Surgical from $512.00 to $469.00 and set a “buy” rating on the stock in a report on Friday, July 17th. Twenty-two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Intuitive Surgical has a consensus rating of “Moderate Buy” and an average target price of $508.68.

Insiders Place Their Bets

In other news, EVP Mark Brosius sold 77 shares of the business’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $375.57, for a total transaction of $28,918.89. Following the completion of the transaction, the executive vice president owned 881 shares of the company’s stock, valued at approximately $330,877.17. The trade was a 8.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 72 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $393.10, for a total value of $28,303.20. Following the sale, the director owned 179 shares of the company’s stock, valued at approximately $70,364.90. This represents a 28.69% 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 90 days, insiders sold 11,658 shares of company stock worth $4,649,835. 0.60% of the stock is owned by company insiders.

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.