Munich Reinsurance Co Stock Corp in Munich Has $38.47 Million Stock Position in Intuitive Surgical, Inc. $ISRG

Key Points

• Munich Reinsurance increased its Intuitive Surgical stake by 48% in the second quarter, bringing its holdings to 96,745 shares valued at approximately $38.47 million. Institutional investors collectively own 83.64% of the company.
• Intuitive Surgical reported strong quarterly results, with earnings per share of $2.80 and revenue of $2.89 billion, exceeding analyst expectations; revenue rose 18.4% year over year.
• The stock opened at $366.70, well below its 12-month high of $603.88. Analysts maintain a “Moderate Buy” consensus with a $508.68 average price target, although some firms recently downgraded the shares or lowered their targets.

Munich Reinsurance Co Stock Corp in Munich grew its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 48.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 96,745 shares of the medical equipment provider's stock after purchasing an additional 31,396 shares during the period. Munich Reinsurance Co Stock Corp in Munich's holdings in Intuitive Surgical were worth $38,474,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Raiffeisen Bank International AG lifted its position in Intuitive Surgical by 0.3% during the 2nd quarter. Raiffeisen Bank International AG now owns 100,344 shares of the medical equipment provider's stock worth $40,737,000 after buying an additional 316 shares in the last quarter. CIBC Capital Markets Europe S.A. acquired a new position in shares of Intuitive Surgical during the 2nd quarter worth about $19,189,000. TD Waterhouse Canada Inc. grew its holdings in shares of Intuitive Surgical by 0.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 34,033 shares of the medical equipment provider's stock valued at $13,693,000 after acquiring an additional 229 shares in the last quarter. Concurrent Investment Advisors LLC grew its holdings in shares of Intuitive Surgical by 30.8% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 25,639 shares of the medical equipment provider's stock valued at $10,196,000 after acquiring an additional 6,043 shares in the last quarter. Finally, NEOS Investment Management LLC increased its position in shares of Intuitive Surgical by 10.2% in the second quarter. NEOS Investment Management LLC now owns 269,580 shares of the medical equipment provider's stock valued at $107,207,000 after acquiring an additional 25,047 shares during the last quarter. Institutional investors own 83.64% of the company's stock.

Insider Activity at Intuitive Surgical

In related news, EVP Gary Loeb sold 400 shares of Intuitive Surgical stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $379.00, for a total transaction of $151,600.00. Following the completion of the sale, the executive vice president owned 5,320 shares of the company's stock, valued at approximately $2,016,280. The trade was a 6.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gary S. Guthart sold 10,000 shares of the company'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 transaction, 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 position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 11,658 shares of company stock valued at $4,649,835 in the last ninety days. Company insiders own 0.60% of the company's stock.

Intuitive Surgical Stock Down 0.8%

NASDAQ:ISRG opened at $366.70 on Friday. The stock's 50 day moving average price is $381.44 and its two-hundred day moving average price is $428.60. The firm has a market capitalization of $129.55 billion, a price-to-earnings ratio of 42.00, a P/E/G ratio of 2.79 and a beta of 1.47. Intuitive Surgical, Inc. has a 12-month low of $328.57 and a 12-month high of $603.88.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued its earnings results on Thursday, July 16th. The medical equipment provider reported $2.80 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 the consensus estimate of $2.83 billion. During the same period in the previous year, the company posted $1.81 EPS. The firm's revenue for the quarter was up 18.4% compared to the same quarter last year. Equities research analysts expect that Intuitive Surgical, Inc. will post 8.87 EPS for the current year.

Analyst Upgrades and Downgrades

ISRG has been the topic of several analyst reports. Raymond James Financial reiterated an "outperform" rating and set a $483.00 target price (down from $577.00) on shares of Intuitive Surgical in a report on Friday, July 17th. BNP Paribas Exane upgraded Intuitive Surgical to an "outperform" rating in a research note on Tuesday, July 28th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Intuitive Surgical in a research report on Wednesday, August 12th. Wall Street Zen cut Intuitive Surgical from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. Finally, HSBC downgraded Intuitive Surgical from a "buy" rating to a "hold" rating and set a $391.00 price objective for the company. in a report on Thursday, July 30th. Twenty-two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $508.68.

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.

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