Korea Investment CORP Reduces Stake in Intuitive Surgical, Inc. $ISRG

Korea Investment CORP lowered its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 2.8% during the third quarter, Holdings Channel reports. The fund owned 293,189 shares of the medical equipment provider’s stock after selling 8,390 shares during the quarter. Korea Investment CORP’s holdings in Intuitive Surgical were worth $131,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Tobam lifted its holdings in shares of Intuitive Surgical by 666.7% in the 2nd quarter. Tobam now owns 46 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 40 shares during the period. Kilter Group LLC acquired a new stake in Intuitive Surgical during the second quarter worth about $27,000. Greykasell Wealth Strategies Inc. purchased a new position in Intuitive Surgical during the third quarter valued at approximately $27,000. Caitlin John LLC purchased a new position in Intuitive Surgical during the third quarter valued at approximately $30,000. Finally, Guerra Advisors Inc acquired a new position in Intuitive Surgical in the third quarter valued at approximately $37,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on ISRG. Barclays set a $712.00 target price on shares of Intuitive Surgical and gave the company an “overweight” rating in a research note on Monday, January 26th. The Goldman Sachs Group reiterated a “buy” rating and issued a $714.00 price objective on shares of Intuitive Surgical in a research report on Friday, January 9th. Argus lowered their target price on shares of Intuitive Surgical from $630.00 to $560.00 and set a “buy” rating on the stock in a research note on Wednesday, February 4th. Wells Fargo & Company raised their target price on Intuitive Surgical from $600.00 to $654.00 and gave the company an “overweight” rating in a research report on Friday, December 12th. Finally, Zacks Research upgraded Intuitive Surgical from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 19th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $615.86.

Intuitive Surgical Stock Down 1.3%

Shares of ISRG opened at $490.16 on Friday. Intuitive Surgical, Inc. has a 52-week low of $425.00 and a 52-week high of $603.88. The stock has a market cap of $174.07 billion, a PE ratio of 62.12, a price-to-earnings-growth ratio of 3.78 and a beta of 1.66. The firm’s fifty day moving average is $521.64 and its two-hundred day moving average is $512.28.

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

Insider Activity at Intuitive Surgical

In other Intuitive Surgical news, Director Gary S. Guthart sold 2,800 shares of the 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 owned 15,720 shares in the company, valued at approximately $8,355,494.40. This represents a 15.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Mark Brosius sold 648 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $495.20, for a total transaction of $320,889.60. Following the completion of the transaction, the senior vice president directly owned 2,906 shares in the company, valued at $1,439,051.20. This trade represents a 18.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 37,261 shares of company stock worth $19,690,721 in the last 90 days. 0.70% of the stock is owned by insiders.

Intuitive Surgical Company 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.