Sumitomo Life Insurance Co. Raises Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Sumitomo Life Insurance Co. raised its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 20.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,684 shares of the medical equipment provider's stock after purchasing an additional 4,110 shares during the quarter. Intuitive Surgical accounts for approximately 0.4% of Sumitomo Life Insurance Co.'s investment portfolio, making the stock its 26th largest holding. Sumitomo Life Insurance Co.'s holdings in Intuitive Surgical were worth $12,225,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Brighton Jones LLC increased its stake 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 valued at $1,916,000 after buying an additional 731 shares during the period. Bank Pictet & Cie Europe AG increased its stake 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 valued at $99,678,000 after buying an additional 883 shares during the period. Proficio Capital Partners LLC increased its stake in shares of Intuitive Surgical by 70.9% during the fourth quarter. Proficio Capital Partners LLC now owns 1,820 shares of the medical equipment provider's stock valued at $950,000 after buying an additional 755 shares during the period. Atala Financial Inc purchased a new position in shares of Intuitive Surgical during the fourth quarter valued at $25,000. Finally, Choate Investment Advisors increased its stake in shares of Intuitive Surgical by 61.8% during the fourth quarter. Choate Investment Advisors now owns 2,370 shares of the medical equipment provider's stock valued at $1,237,000 after buying an additional 905 shares during the period. 83.64% of the stock is currently owned by institutional investors.

Intuitive Surgical Price Performance

NASDAQ:ISRG traded up $1.48 during trading hours on Thursday, reaching $514.12. The company had a trading volume of 875,805 shares, compared to its average volume of 1,682,705. Intuitive Surgical, Inc. has a 1-year low of $413.82 and a 1-year high of $616.00. The firm has a market cap of $184.27 billion, a PE ratio of 75.34, a price-to-earnings-growth ratio of 5.43 and a beta of 1.64. The business's 50 day moving average price is $536.71 and its 200-day moving average price is $536.21.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The medical equipment provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.71 by $0.10. Intuitive Surgical had a return on equity of 14.43% and a net margin of 28.41%. The company had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same period in the previous year, the company posted $1.50 earnings per share. On average, analysts expect that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Jami K. Nachtsheim sold 2,400 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $520.00, for a total value of $1,248,000.00. Following the completion of the sale, the director directly owned 6,371 shares in the company, valued at $3,312,920. The trade was a 27.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert Desantis sold 188 shares of the business's stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $515.91, for a total value of $96,991.08. Following the completion of the sale, the executive vice president owned 5,224 shares of the company's stock, valued at $2,695,113.84. This trade represents a 3.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,998 shares of company stock valued at $2,611,577. Insiders own 0.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Barclays cut their price target on Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Truist Financial cut their target price on Intuitive Surgical from $605.00 to $590.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Piper Sandler cut their target price on Intuitive Surgical from $670.00 to $575.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. BTIG Research set a $566.00 target price on Intuitive Surgical and gave the company a "buy" rating in a research note on Monday. Finally, Citigroup reiterated a "buy" rating and issued a $650.00 target price (up previously from $590.00) on shares of Intuitive Surgical in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $592.86.

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.