Sumway Development LTD. increased its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 40.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,245 shares of the medical equipment provider’s stock after buying an additional 3,845 shares during the period. Intuitive Surgical makes up approximately 3.0% of Sumway Development LTD.’s portfolio, making the stock its 7th largest position. Sumway Development LTD.’s holdings in Intuitive Surgical were worth $12,389,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the company. Alps Advisors Inc. boosted its stake in Intuitive Surgical by 0.3% in the second quarter. Alps Advisors Inc. now owns 647 shares of the medical equipment provider’s stock worth $605,000 after buying an additional 2 shares in the last quarter. Guardian Life Insurance Co. of America boosted its stake in Intuitive Surgical by 2.2% in the first quarter. Guardian Life Insurance Co. of America now owns 142 shares of the medical equipment provider’s stock worth $109,000 after buying an additional 3 shares in the last quarter. Greenleaf Trust boosted its stake in Intuitive Surgical by 0.8% in the first quarter. Greenleaf Trust now owns 477 shares of the medical equipment provider’s stock worth $366,000 after buying an additional 4 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in Intuitive Surgical by 1.8% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 280 shares of the medical equipment provider’s stock worth $215,000 after buying an additional 5 shares in the last quarter. Finally, Wetherby Asset Management Inc. boosted its stake in Intuitive Surgical by 1.4% in the second quarter. Wetherby Asset Management Inc. now owns 361 shares of the medical equipment provider’s stock worth $338,000 after buying an additional 5 shares in the last quarter. 96.08% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) traded down 0.16% on Friday, reaching $971.58. The company’s stock had a trading volume of 36,124 shares. The stock has a market cap of $36.09 billion, a PE ratio of 46.54 and a beta of 0.39. Intuitive Surgical, Inc. has a 12-month low of $610.71 and a 12-month high of $993.00. The firm has a 50 day moving average price of $945.15 and a 200-day moving average price of $842.09. Intuitive Surgical shares are scheduled to split on the morning of Thursday, August 31st. The 3-1 split was announced on Friday, August 11th. The newly created shares will be issued to shareholders after the market closes on Wednesday, August 30th.
Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings results on Thursday, July 20th. The medical equipment provider reported $5.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $5.79 by $0.16. The business had revenue of $756.20 million for the quarter, compared to the consensus estimate of $724.51 million. Intuitive Surgical had a return on equity of 15.99% and a net margin of 28.44%. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.62 EPS. Equities research analysts expect that Intuitive Surgical, Inc. will post $23.92 EPS for the current year.
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A number of equities research analysts have recently commented on the company. Royal Bank Of Canada reissued a “hold” rating and issued a $1,000.00 target price on shares of Intuitive Surgical in a research note on Friday, July 21st. Vetr cut Intuitive Surgical from a “buy” rating to a “hold” rating and set a $1,006.51 target price on the stock. in a research note on Wednesday. Goldman Sachs Group, Inc. (The) began coverage on Intuitive Surgical in a research note on Tuesday, May 16th. They issued a “buy” rating and a $1,000.00 target price on the stock. Citigroup Inc. reaffirmed a “buy” rating and set a $1,078.00 price objective (up from $917.00) on shares of Intuitive Surgical in a research report on Monday, July 24th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and set a $1,000.00 price objective on shares of Intuitive Surgical in a research report on Thursday, May 25th. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $980.61.
In other Intuitive Surgical news, EVP Salvatore Brogna sold 1,306 shares of the business’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $915.09, for a total transaction of $1,195,107.54. Following the sale, the executive vice president now owns 977 shares in the company, valued at approximately $894,042.93. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Gary S. Guthart sold 17,975 shares of the business’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $937.27, for a total value of $16,847,428.25. Following the sale, the chief executive officer now owns 101,798 shares in the company, valued at approximately $95,412,211.46. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,065 shares of company stock worth $31,659,090. Company insiders own 2.50% of the company’s stock.
About Intuitive Surgical
Intuitive Surgical, Inc (Intuitive) designs, manufactures and markets da Vinci Surgical Systems, and related instruments and accessories. The Company’s da Vinci Surgical System consists of a surgeon’s console, a patient-side cart and a vision system. The da Vinci Surgical System translates a surgeon’s hand movements, which are performed on instrument controls at a console, into corresponding micro-movements of instruments positioned inside the patient through small incisions or ports.
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