Sumitomo Mitsui Trust Group Inc. Has $647.42 Million Stock Holdings in Intuitive Surgical, Inc. $ISRG

Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 0.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,447,632 shares of the medical equipment provider’s stock after purchasing an additional 10,214 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Intuitive Surgical were worth $647,424,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tobam increased its position in shares of Intuitive Surgical by 666.7% in the second quarter. Tobam now owns 46 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 40 shares during the last quarter. Kilter Group LLC bought a new stake in shares of Intuitive Surgical during the 2nd quarter worth approximately $27,000. Princeton Global Asset Management LLC acquired a new stake in shares of Intuitive Surgical in the 2nd quarter valued at approximately $30,000. Riggs Asset Managment Co. Inc. grew its stake in shares of Intuitive Surgical by 84.2% in the second quarter. Riggs Asset Managment Co. Inc. now owns 70 shares of the medical equipment provider’s stock valued at $38,000 after buying an additional 32 shares in the last quarter. Finally, First Command Advisory Services Inc. grew its stake in shares of Intuitive Surgical by 3,750.0% in the second quarter. First Command Advisory Services Inc. now owns 77 shares of the medical equipment provider’s stock valued at $42,000 after buying an additional 75 shares in the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Raymond James Financial set a $603.00 price target on shares of Intuitive Surgical and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Jefferies Financial Group raised their target price on shares of Intuitive Surgical from $550.00 to $560.00 and gave the company a “hold” rating in a research note on Wednesday, October 22nd. The Goldman Sachs Group reissued a “buy” rating and set a $714.00 price target on shares of Intuitive Surgical in a research report on Friday. Argus raised their price objective on Intuitive Surgical from $600.00 to $630.00 in a research report on Monday, October 27th. Finally, HSBC boosted their target price on Intuitive Surgical from $595.00 to $644.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $622.17.

Intuitive Surgical Price Performance

ISRG stock opened at $586.24 on Monday. Intuitive Surgical, Inc. has a fifty-two week low of $425.00 and a fifty-two week high of $616.00. The stock has a market capitalization of $210.16 billion, a price-to-earnings ratio of 77.55, a PEG ratio of 4.77 and a beta of 1.67. The business’s fifty day moving average price is $565.95 and its two-hundred day moving average price is $511.38.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings results on Tuesday, October 21st. The medical equipment provider reported $2.40 EPS for the quarter, beating the consensus estimate of $1.99 by $0.41. Intuitive Surgical had a net margin of 28.58% and a return on equity of 15.08%. The business had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the prior year, the company posted $1.84 earnings per share. Intuitive Surgical’s revenue was up 22.9% compared to the same quarter last year. Research analysts expect that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

Insider Activity at Intuitive Surgical

In related news, SVP Mark Brosius sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $547.36, for a total value of $2,463,120.00. Following the completion of the sale, the senior vice president directly owned 907 shares in the company, valued at approximately $496,455.52. The trade was a 83.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Gary S. Guthart sold 28,800 shares of the firm’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $547.56, for a total value of $15,769,728.00. Following the transaction, the insider owned 27,027 shares in the company, valued at approximately $14,798,904.12. This trade represents a 51.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 114,007 shares of company stock valued at $63,533,844. 0.70% of the stock is currently 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.