Morse Asset Management Inc Sells 1,619 Shares of Intuitive Surgical, Inc. $ISRG

Morse Asset Management Inc lowered its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 11.2% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 12,834 shares of the medical equipment provider’s stock after selling 1,619 shares during the period. Intuitive Surgical makes up approximately 1.1% of Morse Asset Management Inc’s holdings, making the stock its 25th biggest position. Morse Asset Management Inc’s holdings in Intuitive Surgical were worth $5,740,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of Intuitive Surgical during the second quarter valued at approximately $2,569,260,000. Rakuten Investment Management Inc. purchased a new stake in Intuitive Surgical in the third quarter worth approximately $388,436,000. Amundi boosted its holdings in Intuitive Surgical by 29.7% in the third quarter. Amundi now owns 3,227,472 shares of the medical equipment provider’s stock worth $1,451,362,000 after purchasing an additional 739,444 shares during the last quarter. Vanguard Group Inc. grew its position in Intuitive Surgical by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 33,335,833 shares of the medical equipment provider’s stock worth $18,115,025,000 after purchasing an additional 670,302 shares during the period. Finally, Sands Capital Management LLC raised its stake in Intuitive Surgical by 77.0% during the 3rd quarter. Sands Capital Management LLC now owns 1,341,109 shares of the medical equipment provider’s stock valued at $599,784,000 after buying an additional 583,539 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. TD Cowen upgraded shares of Intuitive Surgical to a “strong-buy” rating in a research note on Tuesday, January 27th. Evercore cut their price objective on Intuitive Surgical from $580.00 to $550.00 and set an “in-line” rating for the company in a report on Friday, January 23rd. Sanford C. Bernstein upped their price objective on Intuitive Surgical from $740.00 to $750.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. Wall Street Zen downgraded Intuitive Surgical from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Citigroup raised Intuitive Surgical from a “neutral” rating to a “buy” rating and set a $590.00 target price on the stock in a research report on Wednesday, March 11th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $615.86.

Intuitive Surgical Trading Up 2.4%

Shares of NASDAQ:ISRG opened at $483.46 on Tuesday. The stock has a 50 day moving average of $511.60 and a 200 day moving average of $513.03. The company has a market cap of $171.69 billion, a PE ratio of 61.28, a price-to-earnings-growth ratio of 3.64 and a beta of 1.66. Intuitive Surgical, Inc. has a 12-month low of $425.00 and a 12-month high of $603.88.

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

Insider Activity

In related news, VP Fredrik Widman sold 133 shares of Intuitive Surgical stock in a transaction on Wednesday, February 11th. The shares were 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Patricia L. Wadors sold 220 shares of the stock in a transaction on Friday, February 27th. The stock was sold at an average price of $499.71, for a total value of $109,936.20. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 32,943 shares of company stock valued at $17,279,568. 0.70% of the stock is currently owned by company 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.