Global X Japan Co. Ltd. Cuts 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. lowered its position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 16.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,949 shares of the medical equipment provider's stock after selling 8,733 shares during the period. Intuitive Surgical comprises 2.4% of Global X Japan Co. Ltd.'s holdings, making the stock its 13th largest position. 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 also recently modified their holdings of the company. Norway Savings Bank lifted its stake in Intuitive Surgical by 53.4% in the second quarter. Norway Savings Bank now owns 2,613 shares of the medical equipment provider's stock valued at $1,420,000 after purchasing an additional 910 shares during the last quarter. Trust Co. of Oklahoma bought a new stake in shares of Intuitive Surgical in the 2nd quarter valued at about $363,000. Neville Rodie & Shaw Inc. lifted its stake in Intuitive Surgical by 11.9% during the 2nd quarter. Neville Rodie & Shaw Inc. now owns 10,427 shares of the medical equipment provider's stock valued at $5,666,000 after acquiring an additional 1,110 shares during the period. Arlington Trust Co LLC boosted its stake in Intuitive Surgical by 34.5% during the 1st quarter. Arlington Trust Co LLC now owns 745 shares of the medical equipment provider's stock worth $369,000 after purchasing an additional 191 shares during the last quarter. Finally, Focus Partners Wealth increased its stake in Intuitive Surgical by 49.5% during the first quarter. Focus Partners Wealth now owns 79,306 shares of the medical equipment provider's stock worth $39,278,000 after purchasing an additional 26,270 shares during the period. Institutional investors own 83.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. BTIG Research lifted their price objective on Intuitive Surgical from $566.00 to $571.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Evercore ISI increased their target price on Intuitive Surgical from $470.00 to $550.00 and gave the stock an "in-line" rating in a report on Tuesday, July 8th. Truist Financial lifted their price target on Intuitive Surgical from $590.00 to $600.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Erste Group Bank restated a "hold" rating on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $615.00 price objective on shares of Intuitive Surgical in a research report on Tuesday, August 19th. Thirteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $595.95.

Intuitive Surgical Price Performance

Intuitive Surgical stock traded up $2.89 during mid-day trading on Friday, hitting $438.72. The company's stock had a trading volume of 3,756,410 shares, compared to its average volume of 2,373,186. The business has a 50 day moving average price of $476.64 and a 200-day moving average price of $503.68. Intuitive Surgical, Inc. has a 12 month low of $425.00 and a 12 month high of $616.00. The stock has a market cap of $157.27 billion, a price-to-earnings ratio of 61.19, a price-to-earnings-growth ratio of 4.60 and a beta of 1.61.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.93 by $0.26. The firm had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.35 billion. Intuitive Surgical had a net margin of 28.51% and a return on equity of 14.56%. The company's revenue for the quarter was up 21.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.78 earnings per share. On average, equities research analysts expect that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Intuitive Surgical news, 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 directly owned 353 shares in the company, valued at approximately $173,845.44. This trade represents a 92.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gary S. Guthart sold 29,360 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $472.49, for a total transaction of $13,872,306.40. Following the completion of the sale, the insider directly owned 19,827 shares of the company's stock, valued at approximately $9,368,059.23. This trade represents a 59.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,224 shares of company stock worth $21,716,492. Company insiders own 0.70% of the company's stock.

Intuitive Surgical Profile

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.