Marketfield Asset Management LLC trimmed its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 5.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,828 shares of the medical equipment provider’s stock after selling 543 shares during the quarter. Intuitive Surgical comprises 3.2% of Marketfield Asset Management LLC’s portfolio, making the stock its 12th largest holding. Marketfield Asset Management LLC’s holdings in Intuitive Surgical were worth $5,306,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of ISRG. Nuveen Asset Management LLC lifted its holdings in shares of Intuitive Surgical by 32,872.7% in the second quarter. Nuveen Asset Management LLC now owns 1,847,791 shares of the medical equipment provider’s stock valued at $969,259,000 after purchasing an additional 1,842,187 shares in the last quarter. Morgan Stanley increased its position in Intuitive Surgical by 39.1% during the second quarter. Morgan Stanley now owns 4,288,986 shares of the medical equipment provider’s stock worth $2,249,785,000 after buying an additional 1,204,750 shares during the last quarter. Thoroughbred Financial Services LLC increased its position in Intuitive Surgical by 101,543.0% during the second quarter. Thoroughbred Financial Services LLC now owns 864,982 shares of the medical equipment provider’s stock worth $86,498,000 after buying an additional 864,131 shares during the last quarter. Coatue Management LLC acquired a new position in Intuitive Surgical during the second quarter worth $302,483,000. Finally, Vanguard Group Inc. increased its position in Intuitive Surgical by 2.0% during the second quarter. Vanguard Group Inc. now owns 8,826,059 shares of the medical equipment provider’s stock worth $4,629,709,000 after buying an additional 169,521 shares during the last quarter. 85.90% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have commented on the stock. Morgan Stanley set a $620.00 target price on shares of Intuitive Surgical and gave the stock a “buy” rating in a research report on Friday, July 19th. BidaskClub downgraded shares of Intuitive Surgical from a “buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Cantor Fitzgerald set a $620.00 target price on shares of Intuitive Surgical and gave the stock a “buy” rating in a research report on Friday, July 19th. ValuEngine downgraded shares of Intuitive Surgical from a “hold” rating to a “sell” rating in a research report on Friday, July 12th. Finally, UBS Group set a $560.00 target price on shares of Intuitive Surgical and gave the stock a “hold” rating in a research report on Friday, July 19th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $575.33.
Shares of NASDAQ ISRG traded up $3.67 during mid-day trading on Wednesday, hitting $531.88. The company had a trading volume of 15,891 shares, compared to its average volume of 583,587. The business’s 50-day simple moving average is $519.05 and its 200-day simple moving average is $517.71. Intuitive Surgical, Inc. has a 12 month low of $430.24 and a 12 month high of $589.32. The firm has a market cap of $60.68 billion, a P/E ratio of 56.14, a PEG ratio of 3.80 and a beta of 1.13.
Intuitive Surgical (NASDAQ:ISRG) last released its earnings results on Thursday, July 18th. The medical equipment provider reported $3.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.23 by $1.02. Intuitive Surgical had a net margin of 29.95% and a return on equity of 17.35%. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the company earned $2.76 earnings per share. The firm’s revenue was up 20.9% on a year-over-year basis. Analysts anticipate that Intuitive Surgical, Inc. will post 10.12 EPS for the current fiscal year.
In other Intuitive Surgical news, VP Jamie Samath sold 130 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $503.50, for a total transaction of $65,455.00. Following the completion of the transaction, the vice president now owns 219 shares in the company, valued at $110,266.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Salvatore Brogna sold 1,171 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $505.23, for a total transaction of $591,624.33. Following the transaction, the chief operating officer now owns 5,933 shares of the company’s stock, valued at approximately $2,997,529.59. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,869 shares of company stock valued at $13,664,252. 1.70% of the stock is owned by corporate insiders.
About Intuitive Surgical
Intuitive Surgical, Inc designs, manufactures, and markets da Vinci surgical systems, and related instruments and accessories. Its da Vinci Surgical System transforms the surgeon's natural hand movements outside the body into corresponding micro-movements inside the patient's body. The company's da Vinci Surgical System include surgeon's consoles, patient-side carts, 3-D vision systems, da Vinci skills simulators, da Vinci Xi integrated table motions, and Firefly fluorescence imaging products that enable surgeons to perform various surgical procedures, including gynecologic, urologic, general, cardiothoracic, and head and neck surgical procedures.
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