Northwestern Mutual Wealth Management Co. raised its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 488.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,725 shares of the medical equipment provider’s stock after buying an additional 11,392 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Intuitive Surgical were worth $6,797,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. FMR LLC grew its holdings in Intuitive Surgical by 8.3% during the 4th quarter. FMR LLC now owns 6,998,008 shares of the medical equipment provider’s stock valued at $4,136,873,000 after buying an additional 535,391 shares in the last quarter. State Street Corp grew its holdings in Intuitive Surgical by 2.1% during the 4th quarter. State Street Corp now owns 4,844,141 shares of the medical equipment provider’s stock valued at $2,863,614,000 after buying an additional 101,876 shares in the last quarter. Capital World Investors grew its holdings in Intuitive Surgical by 26.2% during the 4th quarter. Capital World Investors now owns 4,377,469 shares of the medical equipment provider’s stock valued at $2,587,741,000 after buying an additional 909,401 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Intuitive Surgical by 0.8% during the first quarter. Bank of New York Mellon Corp now owns 2,951,165 shares of the medical equipment provider’s stock worth $1,461,447,000 after purchasing an additional 23,941 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of Intuitive Surgical by 0.5% during the fourth quarter. Jennison Associates LLC now owns 2,527,947 shares of the medical equipment provider’s stock worth $1,494,396,000 after purchasing an additional 13,314 shares in the last quarter. 85.09% of the stock is owned by institutional investors and hedge funds.
Shares of ISRG stock opened at $562.80 on Friday. Intuitive Surgical, Inc. has a fifty-two week low of $360.50 and a fifty-two week high of $619.00. The stock has a 50 day moving average price of $510.90 and a two-hundred day moving average price of $549.84. The company has a market capitalization of $63.67 billion, a P/E ratio of 48.48, a PEG ratio of 12.33 and a beta of 0.91.
Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings data on Thursday, April 16th. The medical equipment provider reported $2.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.54 by $0.15. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.01 billion. Intuitive Surgical had a return on equity of 17.40% and a net margin of 30.11%. The business’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.61 earnings per share. On average, equities analysts forecast that Intuitive Surgical, Inc. will post 6.78 EPS for the current year.
ISRG has been the subject of several recent analyst reports. Deutsche Bank cut their price objective on Intuitive Surgical from $595.00 to $500.00 and set a “hold” rating for the company in a report on Friday, April 17th. JPMorgan Chase & Co. cut their price objective on Intuitive Surgical from $665.00 to $575.00 and set an “overweight” rating for the company in a report on Tuesday, March 17th. Evercore ISI lowered Intuitive Surgical from an “in-line” rating to an “underperform” rating in a report on Sunday, April 19th. BidaskClub lowered Intuitive Surgical from a “buy” rating to a “hold” rating in a report on Tuesday, March 17th. Finally, ValuEngine raised Intuitive Surgical from a “sell” rating to a “hold” rating in a research note on Friday, March 13th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Intuitive Surgical presently has a consensus rating of “Hold” and a consensus price target of $572.50.
In related news, EVP Curet Myriam sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $503.76, for a total transaction of $1,511,280.00. Following the completion of the transaction, the executive vice president now owns 3,816 shares in the company, valued at $1,922,348.16. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Jamie Samath sold 286 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $550.00, for a total value of $157,300.00. Following the transaction, the senior vice president now owns 315 shares of the company’s stock, valued at approximately $173,250. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,034 shares of company stock valued at $7,381,613. 1.60% of the stock is owned by corporate insiders.
Intuitive Surgical Profile
Intuitive Surgical, Inc designs, manufactures, and markets da Vinci surgical systems, and related instruments and accessories. Its da Vinci Surgical System transforms the surgeon's natural hand movements outside the body into corresponding micro-movements inside the patient's body. The company's da Vinci Surgical System include surgeon's consoles, patient-side carts, 3-D vision systems, da Vinci skills simulators, da Vinci Xi integrated table motions, and Firefly fluorescence imaging products that enable surgeons to perform various surgical procedures, including gynecologic, urologic, general, cardiothoracic, and head and neck surgical procedures.
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