State of Alaska Department of Revenue Sells 1,989 Shares of Intuitive Surgical, Inc. $ISRG

by · The Cerbat Gem

State of Alaska Department of Revenue lessened its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG – Free Report) by 4.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 38,270 shares of the medical equipment provider’s stock after selling 1,989 shares during the period. State of Alaska Department of Revenue’s holdings in Intuitive Surgical were worth $17,115,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ISRG. Norges Bank bought a new stake in Intuitive Surgical during the 2nd quarter valued at approximately $2,569,260,000. Vanguard Group Inc. grew its holdings in Intuitive Surgical by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 33,335,833 shares of the medical equipment provider’s stock valued at $18,115,025,000 after buying an additional 670,302 shares in the last quarter. Jennison Associates LLC grew its holdings in Intuitive Surgical by 20.4% during the 2nd quarter. Jennison Associates LLC now owns 3,122,390 shares of the medical equipment provider’s stock valued at $1,696,738,000 after buying an additional 528,359 shares in the last quarter. Bessemer Group Inc. raised its position in shares of Intuitive Surgical by 89.3% during the second quarter. Bessemer Group Inc. now owns 788,328 shares of the medical equipment provider’s stock valued at $428,386,000 after buying an additional 371,806 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Intuitive Surgical by 25.1% in the second quarter. Assenagon Asset Management S.A. now owns 1,582,280 shares of the medical equipment provider’s stock worth $859,827,000 after buying an additional 317,324 shares in the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Intuitive Surgical Trading Down 1.2%

Shares of ISRG opened at $585.08 on Friday. The company’s fifty day simple moving average is $564.92 and its 200-day simple moving average is $511.04. The company has a market cap of $209.74 billion, a P/E ratio of 77.39, a P/E/G ratio of 4.82 and a beta of 1.67. Intuitive Surgical, Inc. has a twelve month low of $425.00 and a twelve month high of $616.00.

Intuitive Surgical (NASDAQ:ISRG – Get Free Report) last released its quarterly earnings results on Tuesday, October 21st. The medical equipment provider reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.41. Intuitive Surgical had a net margin of 28.58% and a return on equity of 15.08%. The firm had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the previous year, the company earned $1.84 EPS. The firm’s revenue for the quarter was up 22.9% compared to the same quarter last year. Analysts predict that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Royal Bank Of Canada boosted their target price on shares of Intuitive Surgical from $625.00 to $650.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Mizuho set a $575.00 price target on shares of Intuitive Surgical in a research note on Wednesday, October 22nd. Wells Fargo & Company raised their price objective on Intuitive Surgical from $600.00 to $654.00 and gave the company an “overweight” rating in a research report on Friday, December 12th. UBS Group set a $600.00 target price on Intuitive Surgical and gave the stock a “neutral” rating in a report on Thursday, October 23rd. Finally, Raymond James Financial set a $603.00 price target on Intuitive Surgical and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $622.17.

View Our Latest Research Report on ISRG

Insider Buying and Selling at Intuitive Surgical

In other news, insider Gary S. Guthart sold 28,800 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $547.56, for a total transaction of $15,769,728.00. Following the transaction, the insider owned 27,027 shares of the company’s stock, valued at approximately $14,798,904.12. This represents a 51.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Henry L. Charlton sold 13,731 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $580.00, for a total value of $7,963,980.00. Following the completion of the sale, the executive vice president owned 3,056 shares in the company, valued at approximately $1,772,480. The trade was a 81.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 114,007 shares of company stock valued at $63,533,844. 0.70% of the stock is owned by company insiders.

About Intuitive Surgical

(Free Report)

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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