ICICI Prudential Asset Management Co Ltd Grows Stock Position in Intuitive Surgical, Inc. $ISRG

ICICI Prudential Asset Management Co Ltd boosted its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 22.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,505 shares of the medical equipment provider’s stock after buying an additional 1,013 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in Intuitive Surgical were worth $2,462,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Tobam boosted 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 worth $25,000 after acquiring an additional 40 shares during the last quarter. Kilter Group LLC purchased a new position in Intuitive Surgical during the second quarter worth approximately $27,000. Greykasell Wealth Strategies Inc. purchased a new position in Intuitive Surgical during the third quarter worth approximately $27,000. Guerra Advisors Inc acquired a new position in shares of Intuitive Surgical in the 3rd quarter valued at $37,000. Finally, Riggs Asset Managment Co. Inc. grew its stake in shares of Intuitive Surgical by 84.2% during the 2nd 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 during the period. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ISRG shares. UBS Group reaffirmed a “neutral” rating on shares of Intuitive Surgical in a research report on Thursday, January 15th. The Goldman Sachs Group restated a “buy” rating and issued a $714.00 price objective on shares of Intuitive Surgical in a report on Friday, January 9th. HSBC lifted their price objective on Intuitive Surgical from $644.00 to $653.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Wells Fargo & Company raised their price target on shares of Intuitive Surgical from $600.00 to $654.00 and gave the company an “overweight” rating in a report on Friday, December 12th. Finally, BTIG Research reaffirmed a “buy” rating and set a $616.00 price target on shares of Intuitive Surgical in a research report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $617.23.

Intuitive Surgical Price Performance

Intuitive Surgical stock opened at $499.53 on Friday. Intuitive Surgical, Inc. has a 12-month low of $425.00 and a 12-month high of $608.16. The company has a market capitalization of $177.40 billion, a price-to-earnings ratio of 63.31, a price-to-earnings-growth ratio of 3.88 and a beta of 1.65. The firm’s fifty day moving average price is $536.64 and its 200 day moving average price is $510.37.

Intuitive Surgical (NASDAQ:ISRG) last announced its earnings results on Thursday, January 22nd. The medical equipment provider reported $2.53 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.26. Intuitive Surgical had a return on equity of 15.06% and a net margin of 28.38%.The company had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.72 billion. During the same period last year, the firm earned $2.21 earnings per share. The company’s revenue was up 18.8% on a year-over-year basis. Analysts forecast that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Fredrik Widman sold 133 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $494.96, for a total transaction of $65,829.68. Following the completion of the sale, the vice president owned 660 shares of the company’s stock, valued at approximately $326,673.60. This trade represents a 16.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Mark Brosius sold 464 shares of the business’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $548.49, for a total transaction of $254,499.36. Following the completion of the sale, the senior vice president directly owned 131 shares of the company’s stock, valued at $71,852.19. The trade was a 77.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 56,189 shares of company stock worth $30,785,441 in the last quarter. Company insiders own 0.70% of the company’s stock.

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.