Sumitomo Mitsui Trust Group Inc. Purchases 184,044 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Sumitomo Mitsui Trust Group increased its Intuitive Surgical stake by 10.8%, purchasing 184,044 shares to reach 1.89 million shares worth approximately $769.9 million. Institutional investors collectively own 83.64% of the company.
• Intuitive Surgical reported stronger-than-expected quarterly results, with EPS of $3.00 versus the $2.65 consensus and revenue of $3.05 billion, up 21.7% year over year.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $493.54, despite some firms recently lowering their targets.

Sumitomo Mitsui Trust Group Inc. grew its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 10.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,893,485 shares of the medical equipment provider's stock after buying an additional 184,044 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.55% of Intuitive Surgical worth $769,948,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of ISRG. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Intuitive Surgical in the third quarter worth about $136,743,000. SFE Investment Counsel lifted its position in shares of Intuitive Surgical by 105.8% during the third quarter. SFE Investment Counsel now owns 4,957 shares of the medical equipment provider's stock worth $2,016,000 after purchasing an additional 2,548 shares in the last quarter. Stevens Capital Partners grew its stake in shares of Intuitive Surgical by 9.9% during the third quarter. Stevens Capital Partners now owns 686 shares of the medical equipment provider's stock valued at $279,000 after purchasing an additional 62 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of Intuitive Surgical by 3.4% during the third quarter. ProShare Advisors LLC now owns 398,808 shares of the medical equipment provider's stock valued at $162,167,000 after purchasing an additional 12,952 shares during the last quarter. Finally, Vise Technologies Inc. grew its stake in shares of Intuitive Surgical by 43.7% during the third quarter. Vise Technologies Inc. now owns 20,025 shares of the medical equipment provider's stock valued at $8,143,000 after purchasing an additional 6,087 shares during the last quarter. Institutional investors and hedge funds own 83.64% of the company's stock.

Intuitive Surgical Price Performance

Shares of NASDAQ ISRG opened at $432.01 on Friday. The company's 50 day simple moving average is $401.54 and its 200 day simple moving average is $434.05. Intuitive Surgical, Inc. has a fifty-two week low of $328.57 and a fifty-two week high of $603.88. The firm has a market capitalization of $149.75 billion, a P/E ratio of 52.24, a P/E/G ratio of 2.98 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its earnings results on Tuesday, October 20th. The medical equipment provider reported $3.00 EPS for the quarter, topping analysts' consensus estimates of $2.65 by $0.35. Intuitive Surgical had a net margin of 25.54% and a return on equity of 18.17%. The firm had revenue of $3.05 billion during the quarter, compared to analyst estimates of $2.91 billion. During the same quarter in the previous year, the business earned $2.40 EPS. The business's quarterly revenue was up 21.7% compared to the same quarter last year. Sell-side analysts expect that Intuitive Surgical, Inc. will post 9.37 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Craig H. Barratt sold 1,150 shares of Intuitive Surgical stock in a transaction on Friday, October 23rd. The stock was sold at an average price of $443.80, for a total transaction of $510,370.00. Following the completion of the sale, the director directly owned 1,150 shares of the company's stock, valued at $510,370. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Patricia L. Wadors sold 1,078 shares of the company's stock in a transaction dated Friday, October 23rd. The shares were sold at an average price of $443.80, for a total value of $478,416.40. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 38,778 shares of company stock worth $16,814,967 over the last 90 days. 0.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. BNP Paribas Exane raised shares of Intuitive Surgical to an "outperform" rating in a report on Tuesday, July 28th. Mizuho reduced their price objective on Intuitive Surgical from $415.00 to $400.00 and set a "neutral" rating on the stock in a report on Wednesday, October 21st. Stifel Nicolaus decreased their price objective on Intuitive Surgical from $670.00 to $550.00 and set a "buy" rating on the stock in a research report on Friday, July 17th. BMO Capital Markets reiterated an "outperform" rating on shares of Intuitive Surgical in a research report on Monday, July 20th. Finally, Wells Fargo & Company reissued an "overweight" rating and issued a $486.00 target price (down from $487.00) on shares of Intuitive Surgical in a research note on Wednesday, October 21st. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $493.54.

Intuitive Surgical Company Profile

Intuitive Surgical, Inc develops and manufactures robotic-assisted systems and related technologies for minimally invasive surgery. Its products are designed to help surgeons perform procedures through small incisions while providing enhanced visualization, precision and control. The company's primary platform is the da Vinci Surgical System, which is used across a range of specialties, including urology, gynecology, general surgery, cardiothoracic surgery and other procedures.

The company also offers the Ion endoluminal system, which is designed to support minimally invasive lung biopsy procedures.

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