Intuitive Surgical, Inc. (NASDAQ:ISRG) Stock Position Raised by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 3.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 60,161 shares of the medical equipment provider's stock after buying an additional 1,906 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Intuitive Surgical were worth $29,796,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Atala Financial Inc purchased a new stake in Intuitive Surgical during the 4th quarter worth about $25,000. Hurley Capital LLC acquired a new stake in shares of Intuitive Surgical during the 4th quarter worth about $28,000. Parvin Asset Management LLC purchased a new stake in shares of Intuitive Surgical during the fourth quarter worth about $26,000. Global Financial Private Client LLC raised its position in shares of Intuitive Surgical by 253.3% in the first quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider's stock valued at $26,000 after buying an additional 38 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new position in shares of Intuitive Surgical during the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 83.64% of the company's stock.

Intuitive Surgical Price Performance

Intuitive Surgical stock traded down $5.42 during midday trading on Tuesday, hitting $537.99. 1,649,278 shares of the company were exchanged, compared to its average volume of 1,669,334. Intuitive Surgical, Inc. has a fifty-two week low of $413.82 and a fifty-two week high of $616.00. The company's fifty day moving average price is $533.58 and its 200-day moving average price is $536.72. The company has a market cap of $192.83 billion, a PE ratio of 78.88, a price-to-earnings-growth ratio of 5.66 and a beta of 1.67.

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

Analyst Ratings Changes

Several analysts have commented on the stock. Truist Financial lowered their target price on shares of Intuitive Surgical from $605.00 to $590.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft lowered Intuitive Surgical from a "hold" rating to a "sell" rating and dropped their target price for the company from $515.00 to $440.00 in a research note on Monday, June 9th. Royal Bank Of Canada decreased their price target on Intuitive Surgical from $630.00 to $605.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Piper Sandler dropped their price objective on shares of Intuitive Surgical from $670.00 to $575.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Finally, Erste Group Bank raised shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a research report on Thursday, June 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $588.95.

Insiders Place Their Bets

In other news, Director Jami K. Nachtsheim sold 2,400 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $520.00, for a total value of $1,248,000.00. Following the sale, the director owned 6,371 shares in the company, valued at approximately $3,312,920. This represents a 27.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Mark Brosius sold 216 shares of Intuitive Surgical stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $563.11, for a total value of $121,631.76. Following the completion of the transaction, the senior vice president owned 907 shares of the company's stock, valued at $510,740.77. This trade represents a 19.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,998 shares of company stock valued at $2,611,577. Company insiders own 0.70% of the company's stock.

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.