Sumitomo Mitsui Trust Group Inc. Lowers Stock Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Sumitomo Mitsui Trust Group Inc. trimmed its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 4.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,459,505 shares of the medical equipment provider's stock after selling 64,358 shares during the quarter. Intuitive Surgical comprises 0.5% of Sumitomo Mitsui Trust Group Inc.'s investment portfolio, making the stock its 28th biggest holding. Sumitomo Mitsui Trust Group Inc. owned 0.41% of Intuitive Surgical worth $722,849,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC lifted its position in Intuitive Surgical by 13.7% during the 1st quarter. Golden State Wealth Management LLC now owns 1,757 shares of the medical equipment provider's stock worth $870,000 after acquiring an additional 212 shares during the period. Patron Partners LLC lifted its position in Intuitive Surgical by 11.5% in the first quarter. Patron Partners LLC now owns 2,108 shares of the medical equipment provider's stock valued at $1,044,000 after purchasing an additional 218 shares during the period. Westwind Capital boosted its holdings in Intuitive Surgical by 0.3% in the 1st quarter. Westwind Capital now owns 54,237 shares of the medical equipment provider's stock valued at $26,862,000 after purchasing an additional 180 shares in the last quarter. Westend Capital Management LLC increased its position in Intuitive Surgical by 158,180.0% during the 1st quarter. Westend Capital Management LLC now owns 23,742 shares of the medical equipment provider's stock worth $11,759,000 after purchasing an additional 23,727 shares during the period. Finally, Highland Capital Management LLC raised its stake in shares of Intuitive Surgical by 2.3% during the 1st quarter. Highland Capital Management LLC now owns 6,462 shares of the medical equipment provider's stock worth $3,200,000 after buying an additional 143 shares in the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.

Intuitive Surgical Stock Performance

ISRG stock traded down $0.48 during midday trading on Friday, hitting $533.71. 2,014,026 shares of the stock were exchanged, compared to its average volume of 1,675,502. The stock's 50-day moving average price is $532.08 and its 200-day moving average price is $536.80. The stock has a market cap of $191.29 billion, a price-to-earnings ratio of 78.26, a PEG ratio of 5.67 and a beta of 1.67. Intuitive Surgical, Inc. has a fifty-two week low of $413.82 and a fifty-two week high of $616.00.

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ISRG shares. Piper Sandler decreased their price target 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 $560.00 target price on shares of Intuitive Surgical and gave the stock a "buy" rating in a research report on Monday, April 14th. Deutsche Bank Aktiengesellschaft cut shares of Intuitive Surgical from a "hold" rating to a "sell" rating and lowered their price target for the stock from $515.00 to $440.00 in a research note on Monday, June 9th. Robert W. Baird lowered their price target on shares of Intuitive Surgical from $600.00 to $575.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Finally, Barclays lowered their price target on shares of Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $588.95.

Insiders Place Their Bets

In other Intuitive Surgical news, SVP Mark Brosius sold 216 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $563.11, for a total transaction of $121,631.76. Following the completion of the transaction, the senior vice president now owns 907 shares of the company's stock, valued at approximately $510,740.77. This trade represents a 19.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jami K. Nachtsheim sold 2,400 shares of the firm's stock in a transaction 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 transaction, the director now directly owns 6,371 shares of the company's stock, valued at $3,312,920. The trade was a 27.36% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,998 shares of company stock valued at $2,611,577. Corporate insiders own 0.70% of the company's stock.

About Intuitive Surgical

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.