Intuitive Surgical, Inc. $ISRG Position Lifted by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 10.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,893,485 shares of the medical equipment provider’s stock after acquiring an additional 184,044 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Intuitive Surgical were worth $769,948,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Intuitive Surgical in the 3rd quarter valued at about $136,743,000. SFE Investment Counsel lifted its holdings in shares of Intuitive Surgical by 105.8% in the third quarter. SFE Investment Counsel now owns 4,957 shares of the medical equipment provider’s stock valued at $2,016,000 after purchasing an additional 2,548 shares in the last quarter. Stevens Capital Partners lifted its holdings in shares of Intuitive Surgical by 9.9% in the third quarter. Stevens Capital Partners now owns 686 shares of the medical equipment provider’s stock valued at $279,000 after purchasing an additional 62 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Intuitive Surgical by 3.4% during the third quarter. ProShare Advisors LLC now owns 398,808 shares of the medical equipment provider’s stock worth $162,167,000 after buying an additional 12,952 shares during the period. Finally, Vise Technologies Inc. boosted its position in shares of Intuitive Surgical by 43.7% during the third quarter. Vise Technologies Inc. now owns 20,025 shares of the medical equipment provider’s stock worth $8,143,000 after buying an additional 6,087 shares during the period. Institutional investors own 83.64% of the company’s stock.

Insider Activity

In other news, VP Fredrik Widman sold 4,047 shares of Intuitive Surgical stock in a transaction dated Friday, October 23rd. The shares were sold at an average price of $453.21, for a total value of $1,834,140.87. Following the completion of the transaction, the vice president owned 1,026 shares of the company’s stock, valued at $464,993.46. This trade represents a 79.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gary S. Guthart sold 20,095 shares of the business’s stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $451.61, for a total transaction of $9,075,102.95. Following the transaction, the director owned 1,204,530 shares in the company, valued at $543,977,793.30. This represents a 1.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 38,778 shares of company stock valued at $16,814,967. 0.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ISRG shares. Barclays reiterated an “overweight” rating and set a $500.00 price objective (up from $485.00) on shares of Intuitive Surgical in a report on Wednesday, October 21st. KeyCorp restated an “overweight” rating on shares of Intuitive Surgical in a research note on Wednesday, August 12th. Stifel Nicolaus cut their target price on Intuitive Surgical from $670.00 to $550.00 and set a “buy” rating on the stock in a research note on Friday, July 17th. TD Cowen reaffirmed a “buy” rating and set a $485.00 price target on shares of Intuitive Surgical in a research report on Monday, October 19th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $486.00 price target (down from $487.00) on shares of Intuitive Surgical in a research note on Wednesday, October 21st. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Intuitive Surgical currently has a consensus rating of “Moderate Buy” and a consensus target price of $493.54.

Intuitive Surgical Stock Down 3.7%

NASDAQ:ISRG opened at $432.01 on Friday. Intuitive Surgical, Inc. has a twelve month low of $328.57 and a twelve month high of $603.88. The firm has a market capitalization of $149.75 billion, a price-to-earnings ratio of 52.24, a price-to-earnings-growth ratio of 2.98 and a beta of 1.46. The stock’s 50 day moving average price is $401.54 and its two-hundred day moving average price is $434.05.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings data on Tuesday, October 20th. The medical equipment provider reported $3.00 EPS for the quarter, beating the consensus estimate of $2.65 by $0.35. Intuitive Surgical had a return on equity of 18.17% and a net margin of 25.54%. The company had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $2.91 billion. During the same quarter in the prior year, the firm posted $2.40 EPS. The firm’s revenue for the quarter was up 21.7% compared to the same quarter last year. As a group, analysts anticipate that Intuitive Surgical, Inc. will post 9.37 earnings per share for the current year.

About Intuitive Surgical

Intuitive Surgical, Inc develops and manufactures robotic-assisted systems and related technologies for minimally invasive surgery. Its products are designed to help surgeons perform procedures through small incisions while providing enhanced visualization, precision and control. The company’s primary platform is the da Vinci Surgical System, which is used across a range of specialties, including urology, gynecology, general surgery, cardiothoracic surgery and other procedures.

The company also offers the Ion endoluminal system, which is designed to support minimally invasive lung biopsy procedures.