Mufg Securities Americas Inc. Raises Stock Position in Intuitive Surgical, Inc. $ISRG

Mufg Securities Americas Inc. lifted its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 21.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 9,667 shares of the medical equipment provider’s stock after buying an additional 1,724 shares during the period. Mufg Securities Americas Inc.’s holdings in Intuitive Surgical were worth $4,323,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Tobam increased its stake in Intuitive Surgical by 666.7% during the second quarter. Tobam now owns 46 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 40 shares during the last quarter. Kilter Group LLC purchased a new position in shares of Intuitive Surgical in the 2nd quarter worth approximately $27,000. Greykasell Wealth Strategies Inc. bought a new position in shares of Intuitive Surgical during the 3rd quarter valued at approximately $27,000. Guerra Advisors Inc purchased a new stake in Intuitive Surgical during the 3rd quarter valued at $37,000. Finally, Riggs Asset Managment Co. Inc. lifted its position in Intuitive Surgical by 84.2% in the second quarter. Riggs Asset Managment Co. Inc. now owns 70 shares of the medical equipment provider’s stock worth $38,000 after buying an additional 32 shares during the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Intuitive Surgical Price Performance

Shares of ISRG stock opened at $492.10 on Tuesday. The company has a market capitalization of $174.76 billion, a P/E ratio of 62.37, a P/E/G ratio of 3.90 and a beta of 1.65. The company’s 50-day simple moving average is $534.53 and its two-hundred day simple moving average is $511.16. Intuitive Surgical, Inc. has a one year low of $425.00 and a one year high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings results on Thursday, January 22nd. The medical equipment provider reported $2.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.26. Intuitive Surgical had a return on equity of 15.06% and a net margin of 28.38%.The firm had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.72 billion. During the same quarter in the previous year, the business earned $2.21 earnings per share. Intuitive Surgical’s quarterly revenue was up 18.8% on a year-over-year basis. On average, research analysts expect that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

Insider Transactions at Intuitive Surgical

In related news, Director Gary S. Guthart sold 2,800 shares of the company’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $531.52, for a total value of $1,488,256.00. Following the completion of the sale, the director directly owned 15,720 shares of the company’s stock, valued at $8,355,494.40. This represents a 15.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Fredrik Widman sold 133 shares of the stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $494.96, for a total transaction of $65,829.68. Following the transaction, the vice president owned 660 shares in the company, valued at approximately $326,673.60. The trade was a 16.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 56,189 shares of company stock valued at $30,785,441 over the last 90 days. 0.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Sanford C. Bernstein boosted their price objective on shares of Intuitive Surgical from $740.00 to $750.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. Royal Bank Of Canada lifted their price target on shares of Intuitive Surgical from $625.00 to $650.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. HSBC upped their price target on shares of Intuitive Surgical from $644.00 to $653.00 and gave the company a “buy” rating in a report on Monday, January 26th. Argus decreased their price objective on shares of Intuitive Surgical from $630.00 to $560.00 and set a “buy” rating for the company in a research note on Wednesday, February 4th. Finally, Evercore cut their target price on Intuitive Surgical from $580.00 to $550.00 and set an “in-line” rating on the stock in a research note on Friday, January 23rd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $617.23.

Intuitive Surgical Profile

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.