Intuitive Surgical, Inc. $ISRG Shares Acquired by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. lifted its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 3.9% during the first quarter, Holdings Channel reports. The institutional investor owned 220,359 shares of the medical equipment provider’s stock after acquiring an additional 8,240 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Intuitive Surgical were worth $101,125,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Munich Reinsurance Co Stock Corp in Munich purchased a new position in Intuitive Surgical during the first quarter valued at approximately $30,125,000. Personal CFO Solutions LLC boosted its position in Intuitive Surgical by 1.8% in the 1st quarter. Personal CFO Solutions LLC now owns 2,362 shares of the medical equipment provider’s stock worth $1,089,000 after purchasing an additional 41 shares in the last quarter. Frank Rimerman Advisors LLC boosted its position in Intuitive Surgical by 0.3% in the 1st quarter. Frank Rimerman Advisors LLC now owns 8,604 shares of the medical equipment provider’s stock worth $3,966,000 after purchasing an additional 26 shares in the last quarter. Quantum Portfolio Management LLC grew its stake in shares of Intuitive Surgical by 7.7% during the 1st quarter. Quantum Portfolio Management LLC now owns 671 shares of the medical equipment provider’s stock worth $309,000 after purchasing an additional 48 shares during the period. Finally, Penobscot Investment Management Company Inc. grew its stake in shares of Intuitive Surgical by 3.4% during the 1st quarter. Penobscot Investment Management Company Inc. now owns 9,217 shares of the medical equipment provider’s stock worth $4,249,000 after purchasing an additional 303 shares during the period. 83.64% of the stock is owned by institutional investors and hedge funds.

Intuitive Surgical Stock Down 2.9%

Shares of NASDAQ ISRG opened at $415.10 on Thursday. The firm has a market cap of $147.01 billion, a price-to-earnings ratio of 50.32, a price-to-earnings-growth ratio of 3.48 and a beta of 1.46. The company’s 50-day simple moving average is $424.14 and its 200-day simple moving average is $476.26. Intuitive Surgical, Inc. has a 52-week low of $396.68 and a 52-week high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly 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. The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.62 billion. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The company’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.81 EPS. Equities research analysts anticipate that Intuitive Surgical, Inc. will post 8.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ISRG shares. Raymond James Financial cut their target price on shares of Intuitive Surgical from $615.00 to $577.00 and set an “outperform” rating for the company in a report on Wednesday, April 22nd. Citigroup restated a “buy” rating on shares of Intuitive Surgical in a research report on Wednesday. BTIG Research reaffirmed a “buy” rating and issued a $574.00 price objective on shares of Intuitive Surgical in a report on Wednesday, April 22nd. Evercore set a $430.00 price objective on shares of Intuitive Surgical in a research report on Monday. Finally, UBS Group lowered their target price on shares of Intuitive Surgical from $570.00 to $550.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 17th. Twenty research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Intuitive Surgical has an average rating of “Moderate Buy” and a consensus target price of $569.20.

Insiders Place Their Bets

In other Intuitive Surgical news, EVP Gary Loeb sold 400 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total transaction of $169,656.00. Following the completion of the sale, the executive vice president directly owned 5,720 shares in the company, valued at approximately $2,426,080.80. The trade was a 6.54% decrease in their position. The transaction was disclosed in a 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 stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $463.50, for a total value of $55,156.50. Following the transaction, the director directly owned 120 shares of the company’s stock, valued at $55,620. The trade was 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. In the last three months, insiders sold 7,169 shares of company stock worth $3,059,135. Corporate insiders own 0.60% of the company’s stock.

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.