Resona Asset Management Co. Ltd. Increases Stake in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Intuitive Surgical by 7.2%, owning 207,653 shares valued at approximately $102.7 million.
• Intuitive Surgical reported strong quarterly earnings with an EPS of $2.19, exceeding estimates, and a revenue of $2.44 billion, a 21.4% increase year-over-year.
• Institutional investors hold 83.64% of Intuitive Surgical's stock, with significant increases in holdings from several firms during the first quarter.

Resona Asset Management Co. Ltd. boosted its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 7.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 207,653 shares of the medical equipment provider's stock after purchasing an additional 13,911 shares during the quarter. Intuitive Surgical comprises about 0.6% of Resona Asset Management Co. Ltd.'s investment portfolio, making the stock its 26th largest holding. Resona Asset Management Co. Ltd. owned about 0.06% of Intuitive Surgical worth $102,685,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in Intuitive Surgical by 24.9% during the 4th quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider's stock worth $1,916,000 after buying an additional 731 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its position in 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 valued at $99,678,000 after purchasing an additional 883 shares during the last quarter. Townsquare Capital LLC grew its stake in Intuitive Surgical by 18.0% in the fourth quarter. Townsquare Capital LLC now owns 13,065 shares of the medical equipment provider's stock valued at $6,820,000 after purchasing an additional 1,994 shares in the last quarter. Sagespring Wealth Partners LLC acquired a new position in shares of Intuitive Surgical during the 4th quarter worth approximately $1,458,000. Finally, Advisors Capital Management LLC raised its stake in shares of Intuitive Surgical by 6.0% during the 4th quarter. Advisors Capital Management LLC now owns 2,912 shares of the medical equipment provider's stock worth $1,520,000 after purchasing an additional 165 shares in the last quarter. Institutional investors and hedge funds own 83.64% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ISRG. Barclays decreased their target price on shares of Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Citigroup reissued a "buy" rating and set a $650.00 price target (up previously from $590.00) on shares of Intuitive Surgical in a research report on Thursday, May 22nd. Royal Bank Of Canada raised their price objective on Intuitive Surgical from $605.00 to $615.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft downgraded Intuitive Surgical from a "hold" rating to a "sell" rating and reduced their target price for the stock from $515.00 to $440.00 in a research note on Monday, June 9th. Finally, Truist Financial increased 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Intuitive Surgical has a consensus rating of "Moderate Buy" and an average target price of $595.95.

Insider Transactions at Intuitive Surgical

In other Intuitive Surgical news, EVP Myriam Curet sold 4,500 shares of the firm's stock in a transaction 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 of the company's stock, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gary S. Guthart sold 2,800 shares of the firm's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $495.24, for a total transaction of $1,386,672.00. Following the completion of the transaction, the insider directly owned 18,520 shares in the company, valued at approximately $9,171,844.80. The trade was a 13.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,839 shares of company stock valued at $7,896,972 in the last quarter. 0.70% of the stock is currently owned by company insiders.

Intuitive Surgical Stock Up 0.7%

ISRG traded up $3.18 during trading on Friday, reaching $480.26. 1,433,935 shares of the stock traded hands, compared to its average volume of 1,995,639. The stock's 50-day moving average is $510.29 and its 200 day moving average is $526.13. Intuitive Surgical, Inc. has a 12 month low of $425.00 and a 12 month high of $616.00. The stock has a market capitalization of $172.16 billion, a PE ratio of 66.98, a P/E/G ratio of 5.06 and a beta of 1.59.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 EPS for the quarter, topping the consensus estimate of $1.93 by $0.26. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%. The business had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.35 billion. During the same quarter last year, the firm posted $1.78 earnings per share. The firm's revenue was up 21.4% on a year-over-year basis. As a group, equities research analysts anticipate that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

Intuitive Surgical Company 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.