Sumitomo Mitsui Trust Group Inc. Raises Holdings in Intuitive Surgical, Inc. $ISRG

Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 3.2% during the first quarter, Holdings Channel.com reports. The institutional investor owned 1,465,816 shares of the medical equipment provider’s stock after acquiring an additional 45,359 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Intuitive Surgical were worth $675,727,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ISRG. Brighton Jones LLC raised its holdings in shares of Intuitive Surgical by 24.9% in the 4th quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider’s stock valued at $1,916,000 after purchasing an additional 731 shares in the last quarter. Sivia Capital Partners LLC lifted its position in shares of Intuitive Surgical by 3.8% in the 2nd quarter. Sivia Capital Partners LLC now owns 928 shares of the medical equipment provider’s stock worth $504,000 after purchasing an additional 34 shares during the period. Schnieders Capital Management LLC. boosted its stake in shares of Intuitive Surgical by 38.0% during the second quarter. Schnieders Capital Management LLC. now owns 973 shares of the medical equipment provider’s stock valued at $529,000 after purchasing an additional 268 shares in the last quarter. Osterweis Capital Management Inc. purchased a new position in Intuitive Surgical during the second quarter valued at approximately $200,000. Finally, Main Street Financial Solutions LLC increased its holdings in Intuitive Surgical by 92.4% during the second quarter. Main Street Financial Solutions LLC now owns 2,929 shares of the medical equipment provider’s stock valued at $1,592,000 after buying an additional 1,407 shares during the period. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Analyst Upgrades and Downgrades

ISRG has been the subject of a number of analyst reports. HSBC lowered their target price on Intuitive Surgical from $653.00 to $604.00 and set a “buy” rating for the company in a report on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft cut their price target on Intuitive Surgical from $440.00 to $366.00 and set a “sell” rating on the stock in a report on Tuesday, June 2nd. BTIG Research reissued a “buy” rating and issued a $574.00 price target on shares of Intuitive Surgical in a research report on Wednesday, April 22nd. Truist Financial decreased their price objective on Intuitive Surgical from $650.00 to $580.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th. Finally, Raymond James Financial dropped their price objective on Intuitive Surgical from $615.00 to $577.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 22nd. Twenty analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $569.20.

Insiders Place Their Bets

In other news, SVP Iman Jeddi sold 5,625 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $420.55, for a total transaction of $2,365,593.75. Following the sale, the senior vice president owned 6,463 shares in the company, valued at approximately $2,718,014.65. The trade was a 46.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 119 shares of the company’s stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $463.50, for a total transaction of $55,156.50. Following the transaction, the director owned 120 shares in the company, valued at approximately $55,620. This trade represents a 49.79% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 7,169 shares of company stock valued at $3,059,135. 0.60% of the stock is currently owned by corporate insiders.

Intuitive Surgical Trading Down 2.9%

Shares of ISRG opened at $415.10 on Thursday. The firm has a market cap of $147.01 billion, a PE ratio of 50.32, a P/E/G ratio of 3.48 and a beta of 1.46. Intuitive Surgical, Inc. has a 12 month low of $396.68 and a 12 month high of $603.88. The stock has a fifty day moving average price of $424.14 and a 200-day moving average price of $476.26.

Intuitive Surgical (NASDAQ:ISRG) last announced its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.42. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same period in the previous year, the business earned $1.81 EPS. The firm’s revenue for the quarter was up 23.0% on a year-over-year basis. As a group, research analysts forecast that Intuitive Surgical, Inc. will post 8.57 EPS for the current year.

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.