Rhenman & Partners Asset Management AB Boosts Stock Position in Intuitive Surgical, Inc. $ISRG

Rhenman & Partners Asset Management AB raised its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 9.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 48,500 shares of the medical equipment provider’s stock after buying an additional 4,150 shares during the period. Intuitive Surgical makes up approximately 2.4% of Rhenman & Partners Asset Management AB’s holdings, making the stock its 6th largest holding. Rhenman & Partners Asset Management AB’s holdings in Intuitive Surgical were worth $21,691,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SteelPeak Wealth LLC lifted its holdings in shares of Intuitive Surgical by 28.7% during the third quarter. SteelPeak Wealth LLC now owns 41,993 shares of the medical equipment provider’s stock worth $18,781,000 after buying an additional 9,364 shares in the last quarter. Atlantic Union Bankshares Corp boosted its position in shares of Intuitive Surgical by 19.3% in the third quarter. Atlantic Union Bankshares Corp now owns 22,759 shares of the medical equipment provider’s stock valued at $10,179,000 after acquiring an additional 3,676 shares during the period. World Investment Advisors grew its stake in shares of Intuitive Surgical by 238.3% in the third quarter. World Investment Advisors now owns 5,399 shares of the medical equipment provider’s stock valued at $2,415,000 after acquiring an additional 3,803 shares in the last quarter. E. Ohman J or Asset Management AB grew its stake in shares of Intuitive Surgical by 4.1% in the third quarter. E. Ohman J or Asset Management AB now owns 28,306 shares of the medical equipment provider’s stock valued at $12,659,000 after acquiring an additional 1,123 shares in the last quarter. Finally, Valley Wealth Managers Inc. increased its position in Intuitive Surgical by 52.7% during the third quarter. Valley Wealth Managers Inc. now owns 4,084 shares of the medical equipment provider’s stock worth $1,826,000 after acquiring an additional 1,409 shares during the period. 83.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on ISRG shares. Zacks Research upgraded shares of Intuitive Surgical from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 19th. Raymond James Financial boosted their price target on Intuitive Surgical from $603.00 to $615.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. TD Cowen raised Intuitive Surgical to a “strong-buy” rating in a research report on Tuesday, January 27th. UBS Group set a $570.00 price objective on Intuitive Surgical and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. Finally, Sanford C. Bernstein lifted their price objective on Intuitive Surgical from $740.00 to $750.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Intuitive Surgical presently has an average rating of “Moderate Buy” and an average target price of $615.86.

Intuitive Surgical Trading Down 1.3%

NASDAQ ISRG opened at $490.16 on Friday. The firm’s 50 day simple moving average is $521.64 and its 200 day simple moving average is $512.28. The firm has a market capitalization of $174.07 billion, a price-to-earnings ratio of 62.12, a P/E/G ratio of 3.78 and a beta of 1.66. Intuitive Surgical, Inc. has a 1 year low of $425.00 and a 1 year high of $603.88.

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

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, EVP Myriam Curet sold 421 shares of the business’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $494.96, for a total transaction of $208,378.16. Following the completion of the transaction, the executive vice president owned 409 shares of the company’s stock, valued at approximately $202,438.64. The trade was a 50.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Patricia L. Wadors sold 220 shares of the stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $499.71, for a total transaction of $109,936.20. The SEC filing for this sale provides additional information. Insiders sold 37,261 shares of company stock worth $19,690,721 over the last quarter. 0.70% of the stock is currently owned by company insiders.

About Intuitive Surgical

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.