Intuitive Surgical, Inc. $ISRG Shares Bought by Mitsubishi UFJ Trust & Banking Corp

Key Points

• Mitsubishi UFJ Trust & Banking raised its stake in Intuitive Surgical by 3.6% to 255,523 shares (about $144.7M), and several other large institutions also added positions, leaving roughly 83.6% of ISRG held by hedge funds and institutional investors.
• Intuitive beat quarterly expectations, reporting $2.50 EPS vs. $2.08 expected and revenue of $2.77B (up 23% year-over-year), while the company has a market cap of about $166.8B and a PE of 57.09.
• Analyst views are mixed: multiple firms cut price targets recently but the consensus remains a “Moderate Buy” with an average target price of $581.91 (18 Buys, 7 Holds, 1 Sell).

Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 3.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 255,523 shares of the medical equipment provider's stock after acquiring an additional 8,891 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.07% of Intuitive Surgical worth $144,718,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ISRG. Rakuten Investment Management Inc. purchased a new position in shares of Intuitive Surgical during the third quarter worth $388,436,000. Assenagon Asset Management S.A. boosted its holdings in Intuitive Surgical by 106.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,533,771 shares of the medical equipment provider's stock valued at $868,667,000 after purchasing an additional 791,516 shares during the last quarter. Amundi grew its position in Intuitive Surgical by 29.7% during the 3rd quarter. Amundi now owns 3,227,472 shares of the medical equipment provider's stock worth $1,451,362,000 after purchasing an additional 739,444 shares during the period. Sands Capital Management LLC grew its position in Intuitive Surgical by 77.0% during the 3rd quarter. Sands Capital Management LLC now owns 1,341,109 shares of the medical equipment provider's stock worth $599,784,000 after purchasing an additional 583,539 shares during the period. Finally, Victory Capital Management Inc. raised its stake in shares of Intuitive Surgical by 41.3% during the 3rd quarter. Victory Capital Management Inc. now owns 1,941,310 shares of the medical equipment provider's stock valued at $868,212,000 after buying an additional 567,483 shares during the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ISRG has been the subject of several analyst reports. Jefferies Financial Group decreased their price objective on Intuitive Surgical from $560.00 to $515.00 and set a "hold" rating for the company in a report on Wednesday, April 22nd. TD Cowen decreased their price target on Intuitive Surgical from $660.00 to $585.00 and set a "buy" rating for the company in a report on Wednesday, April 22nd. JPMorgan Chase & Co. lowered their price objective on Intuitive Surgical from $625.00 to $550.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 22nd. Mizuho set a $525.00 price objective on shares of Intuitive Surgical and gave the stock a "neutral" rating in a research note on Monday, April 13th. Finally, Sanford C. Bernstein lifted their target price on shares of Intuitive Surgical from $740.00 to $750.00 and gave the company an "outperform" rating in a report on Friday, January 23rd. Eighteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $581.91.

Intuitive Surgical Stock Down 2.3%

Shares of Intuitive Surgical stock opened at $470.99 on Tuesday. Intuitive Surgical, Inc. has a twelve month low of $427.84 and a twelve month high of $603.88. The business has a 50-day moving average price of $477.17 and a 200 day moving average price of $516.57. The firm has a market cap of $166.81 billion, a PE ratio of 57.09, a P/E/G ratio of 3.88 and a beta of 1.68.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued its quarterly earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.08 by $0.42. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the prior year, the business posted $1.81 earnings per share. Intuitive Surgical's revenue for the quarter was up 23.0% on a year-over-year basis. On average, sell-side analysts expect that Intuitive Surgical, Inc. will post 8.51 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Myriam Curet sold 421 shares of the business's stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $494.96, for a total value of $208,378.16. Following the completion of the sale, the executive vice president owned 409 shares of the company's stock, valued at approximately $202,438.64. The trade was a 50.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Fredrik Widman sold 133 shares of the company's stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $494.96, for a total transaction of $65,829.68. Following the transaction, the vice president owned 660 shares of the company's stock, valued at $326,673.60. This represents a 16.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 5,413 shares of company stock valued at $2,681,362. 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.

Want to see what other hedge funds are holding ISRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.