Global X Japan Co. Ltd. Has $23.34 Million Stock Position in Intuitive Surgical, Inc. $ISRG

Key Points

• Global X Japan Co. Ltd. has reduced its stake in Intuitive Surgical by 16.9%, owning 42,949 shares valued at approximately $23.3 million.
• Several institutional investors, including Vanguard Group Inc. and Wellington Management Group LLP, have increased their holdings in Intuitive Surgical, highlighting a positive sentiment among larger investors.
• Intuitive Surgical reported strong quarterly earnings, with an EPS of $2.19, exceeding estimates and showing a 21.4% revenue increase year-over-year.

Global X Japan Co. Ltd. lessened its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 16.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 42,949 shares of the medical equipment provider's stock after selling 8,733 shares during the quarter. Intuitive Surgical accounts for about 2.4% of Global X Japan Co. Ltd.'s investment portfolio, making the stock its 13th largest holding. Global X Japan Co. Ltd.'s holdings in Intuitive Surgical were worth $23,339,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in shares of Intuitive Surgical by 24.9% during the fourth quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider's stock worth $1,916,000 after purchasing an additional 731 shares during the period. Bank Pictet & Cie Europe AG raised its holdings in shares of Intuitive Surgical by 0.5% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 190,969 shares of the medical equipment provider's stock worth $99,678,000 after purchasing an additional 883 shares during the period. Worldquant Millennium Advisors LLC acquired a new stake in shares of Intuitive Surgical during the fourth quarter worth $1,775,000. Connecticut Wealth Management LLC raised its holdings in shares of Intuitive Surgical by 2.6% during the fourth quarter. Connecticut Wealth Management LLC now owns 1,053 shares of the medical equipment provider's stock worth $549,000 after purchasing an additional 27 shares during the period. Finally, Vise Technologies Inc. raised its holdings in shares of Intuitive Surgical by 84.5% during the fourth quarter. Vise Technologies Inc. now owns 4,925 shares of the medical equipment provider's stock worth $2,571,000 after purchasing an additional 2,256 shares during the period. Institutional investors and hedge funds own 83.64% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on ISRG shares. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Intuitive Surgical in a report on Friday, August 22nd. Wall Street Zen raised shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Erste Group Bank reaffirmed a "hold" rating on shares of Intuitive Surgical in a report on Wednesday, July 23rd. Zacks Research cut shares of Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 20th. Finally, Truist Financial increased their price objective on shares of Intuitive Surgical from $590.00 to $600.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Thirteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $595.95.

Intuitive Surgical Stock Performance

Shares of NASDAQ ISRG traded up $4.47 during mid-day trading on Tuesday, reaching $449.02. The company had a trading volume of 921,442 shares, compared to its average volume of 2,042,799. The stock has a fifty day moving average of $475.20 and a two-hundred day moving average of $502.92. The company has a market capitalization of $160.96 billion, a price-to-earnings ratio of 62.63, a PEG ratio of 4.60 and a beta of 1.61. Intuitive Surgical, Inc. has a 12-month low of $425.00 and a 12-month high of $616.00.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.93 by $0.26. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.35 billion. Intuitive Surgical had a net margin of 28.51% and a return on equity of 14.56%. The firm's revenue was up 21.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.78 earnings per share. Sell-side analysts forecast that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

Insider Activity at Intuitive Surgical

In other Intuitive Surgical news, Director Amy L. Ladd sold 336 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $470.11, for a total transaction of $157,956.96. Following the transaction, the director owned 1,074 shares in the company, valued at $504,898.14. This trade represents a 23.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Myriam Curet sold 4,500 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $492.48, for a total value of $2,216,160.00. Following the transaction, the executive vice president owned 353 shares in the company, valued at approximately $173,845.44. This trade represents a 92.73% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,224 shares of company stock valued at $21,716,492. 0.70% of the stock is currently owned by corporate insiders.

About Intuitive Surgical

Intuitive Surgical, Inc develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally. The company offers the da Vinci Surgical System that enables complex surgery using a minimally invasive approach; and Ion endoluminal system, which extends its commercial offerings beyond surgery into diagnostic procedures enabling minimally invasive biopsies in the lung.