336,284 Shares of Intuitive Surgical, Inc. $ISRG Acquired by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments acquired 336,284 Intuitive Surgical shares worth approximately $136.7 million, giving it a 0.10% stake. Institutional investors collectively own 83.64% of the company.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $493.54, despite some recent target-price reductions.
• Intuitive Surgical exceeded quarterly expectations, reporting $3.00 in earnings per share and $3.05 billion in revenue, up 21.7% year over year. Shares recently opened at $432.01, while insiders have sold roughly $16.8 million of stock over the past 90 days.

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 336,284 shares of the medical equipment provider's stock, valued at approximately $136,743,000. Mirae Asset Global Investments Co. Ltd. owned 0.10% of Intuitive Surgical at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ISRG. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Intuitive Surgical in the second quarter valued at about $14,316,000. Plato Investment Management Ltd bought a new position in shares of Intuitive Surgical in the second quarter worth about $4,315,000. Hikari Power Ltd acquired a new stake in shares of Intuitive Surgical in the 2nd quarter valued at approximately $5,619,000. NewEdge Advisors LLC boosted its stake in shares of Intuitive Surgical by 19.1% in the 2nd quarter. NewEdge Advisors LLC now owns 50,825 shares of the medical equipment provider's stock valued at $20,212,000 after purchasing an additional 8,142 shares in the last quarter. Finally, Nykredit A S bought a new stake in shares of Intuitive Surgical during the 2nd quarter valued at approximately $48,464,000. Institutional investors own 83.64% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on ISRG. Oppenheimer reiterated an "outperform" rating and set a $500.00 price objective on shares of Intuitive Surgical in a research report on Wednesday, October 21st. BNP Paribas Exane upgraded shares of Intuitive Surgical to an "outperform" rating in a research report on Tuesday, July 28th. Mizuho decreased their target price on shares of Intuitive Surgical from $415.00 to $400.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 21st. BTIG Research reiterated a "buy" rating and set a $454.00 price target on shares of Intuitive Surgical in a report on Wednesday, October 21st. Finally, Truist Financial dropped their price target on Intuitive Surgical from $580.00 to $510.00 and set a "buy" rating for the company in a research note on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Intuitive Surgical has an average rating of "Moderate Buy" and a consensus price target of $493.54.

Intuitive Surgical Stock Performance

Shares of NASDAQ ISRG opened at $432.01 on Friday. The company's 50 day moving average price is $401.54 and its 200-day moving average price is $434.05. Intuitive Surgical, Inc. has a 52-week low of $328.57 and a 52-week high of $603.88. The company has a market capitalization of $149.75 billion, a P/E ratio of 52.24, a price-to-earnings-growth ratio of 2.98 and a beta of 1.46.

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

Insider Activity

In other news, Director Craig H. Barratt sold 1,150 shares of the business's stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $443.80, for a total value of $510,370.00. Following the transaction, the director directly owned 1,150 shares of the company's stock, valued at $510,370. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Fredrik Widman sold 4,047 shares of the company's 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 sale, the vice president owned 1,026 shares in the company, valued at approximately $464,993.46. The trade was a 79.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 38,778 shares of company stock worth $16,814,967. 0.60% of the stock is owned by insiders.

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.

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