Hikari Power Ltd Acquires New Stake in Intuitive Surgical, Inc. $ISRG

Key Points

• Hikari Power Ltd acquired 14,130 shares of Intuitive Surgical during the second quarter, valued at approximately $5.6 million and representing 0.7% of its portfolio.
• Institutional investors own 83.64% of Intuitive Surgical, while several large funds—including Norges Bank and Bank of New York Mellon—recently established or expanded positions.
• Intuitive Surgical exceeded quarterly expectations with $2.80 in EPS and $2.89 billion in revenue, up 18.4% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $508.68, despite recent target reductions and insider selling.

Hikari Power Ltd acquired a new stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 14,130 shares of the medical equipment provider's stock, valued at approximately $5,619,000. Intuitive Surgical makes up about 0.7% of Hikari Power Ltd's investment portfolio, making the stock its 15th largest position.

A number of other large investors have also modified their holdings of ISRG. Norges Bank purchased a new stake in Intuitive Surgical during the 4th quarter valued at about $2,856,987,000. Bank of New York Mellon Corp acquired a new position in shares of Intuitive Surgical during the 2nd quarter worth approximately $1,335,753,000. J. Stern & Co. LLP grew its position in shares of Intuitive Surgical by 18,504.6% in the fourth quarter. J. Stern & Co. LLP now owns 2,127,248 shares of the medical equipment provider's stock valued at $1,204,788,000 after purchasing an additional 2,115,814 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Intuitive Surgical by 1,043.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,342,121 shares of the medical equipment provider's stock valued at $760,124,000 after purchasing an additional 1,224,734 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Intuitive Surgical by 95.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,105,544 shares of the medical equipment provider's stock valued at $970,635,000 after purchasing an additional 1,027,475 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ISRG shares. Wells Fargo & Company reiterated an "overweight" rating and set a $487.00 price objective (down from $654.00) on shares of Intuitive Surgical in a research report on Friday, July 17th. KeyCorp reaffirmed an "overweight" rating on shares of Intuitive Surgical in a research note on Wednesday. Wall Street Zen downgraded Intuitive Surgical from a "buy" rating to a "hold" rating in a research note on Saturday. Sanford C. Bernstein reiterated an "outperform" rating on shares of Intuitive Surgical in a report on Wednesday. Finally, Robert W. Baird lowered their price target on shares of Intuitive Surgical from $525.00 to $500.00 and set an "outperform" rating on the stock in a research report on Friday, July 17th. Twenty-two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $508.68.

Insiders Place Their Bets

In related news, SVP Iman Jeddi sold 5,625 shares of the firm'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 completion of the sale, the senior vice president directly owned 6,463 shares of the company's stock, valued at approximately $2,718,014.65. This trade represents a 46.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gary S. Guthart sold 10,000 shares of the business's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $400.00, for a total transaction of $4,000,000.00. Following the completion of the sale, the director owned 1,245,679 shares in the company, valued at approximately $498,271,600. This trade represents a 0.80% 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 quarter, insiders have sold 17,088 shares of company stock valued at $6,941,913. 0.60% of the stock is owned by company insiders.

Intuitive Surgical Stock Performance

ISRG opened at $394.51 on Monday. Intuitive Surgical, Inc. has a one year low of $328.57 and a one year high of $603.88. The stock has a market capitalization of $139.37 billion, a PE ratio of 45.19, a P/E/G ratio of 2.85 and a beta of 1.47. The business's 50 day moving average price is $391.45 and its 200 day moving average price is $440.66.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its earnings results on Thursday, July 16th. The medical equipment provider reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.32. Intuitive Surgical had a return on equity of 16.91% and a net margin of 28.45%.The company had revenue of $2.89 billion during the quarter, compared to analysts' expectations of $2.83 billion. During the same quarter last year, the firm earned $1.81 earnings per share. The firm's quarterly revenue was up 18.4% compared to the same quarter last year. As a group, equities research analysts forecast that Intuitive Surgical, Inc. will post 8.87 earnings per share for the current fiscal 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.

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