Sumitomo Mitsui Asset Management Company LTD lowered its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 9.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,803 shares of the medical equipment provider’s stock after selling 306 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Intuitive Surgical were worth $2,931,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. ETF Managers Group LLC bought a new position in shares of Intuitive Surgical during the second quarter worth about $110,000. D. Scott Neal Inc. bought a new position in shares of Intuitive Surgical during the second quarter worth about $120,000. Harvest Fund Management Co. Ltd bought a new position in shares of Intuitive Surgical during the second quarter worth about $120,000. Parallel Advisors LLC grew its holdings in shares of Intuitive Surgical by 3.9% during the second quarter. Parallel Advisors LLC now owns 159 shares of the medical equipment provider’s stock worth $149,000 after buying an additional 6 shares in the last quarter. Finally, Advisors Capital Management LLC bought a new position in shares of Intuitive Surgical during the third quarter worth about $209,000. Institutional investors and hedge funds own 31.40% of the company’s stock.
Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings data on Thursday, October 19th. The medical equipment provider reported $2.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.99 by $0.78. Intuitive Surgical had a return on equity of 18.20% and a net margin of 30.16%. The company had revenue of $806.10 million for the quarter, compared to the consensus estimate of $753.25 million. During the same quarter last year, the business posted $2.06 earnings per share. The firm’s revenue was up 18.0% compared to the same quarter last year.
A number of research analysts recently issued reports on ISRG shares. Wedbush reiterated a “buy” rating on shares of Intuitive Surgical in a report on Tuesday, October 10th. Barclays PLC restated an “overweight” rating on shares of Intuitive Surgical in a research note on Friday, October 20th. Morgan Stanley restated an “overweight” rating and issued a $118.89 price target (up from $105.56) on shares of Intuitive Surgical in a research note on Tuesday, July 25th. Vetr upgraded Intuitive Surgical from a “hold” rating to a “buy” rating and set a $113.59 price target for the company in a research note on Monday, August 28th. Finally, Zacks Investment Research upgraded Intuitive Surgical from a “hold” rating to a “strong-buy” rating and set a $118.56 target price for the company in a research note on Tuesday, July 25th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $154.72.
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In other news, EVP Salvatore Brogna sold 899 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $1,001.90, for a total transaction of $900,708.10. Following the transaction, the executive vice president now directly owns 570 shares of the company’s stock, valued at $571,083. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Curet Myriam sold 262 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $373.00, for a total value of $97,726.00. The disclosure for this sale can be found here. Insiders sold 36,076 shares of company stock worth $15,208,381 in the last quarter. 2.20% of the stock is currently owned by company insiders.
Intuitive Surgical Company Profile
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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