OMERS ADMINISTRATION Corp Buys New Stake in Intuitive Surgical, Inc. (ISRG)
OMERS ADMINISTRATION Corp bought a new position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,500 shares of the medical equipment provider’s stock, valued at approximately $2,338,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Guardian Life Insurance Co. of America increased its position in Intuitive Surgical by 2.2% in the first quarter. Guardian Life Insurance Co. of America now owns 142 shares of the medical equipment provider’s stock worth $109,000 after buying an additional 3 shares in the last quarter. D. Scott Neal Inc. purchased a new position in Intuitive Surgical during the second quarter worth approximately $120,000. Parallel Advisors LLC increased its position in Intuitive Surgical by 10.1% in the first quarter. Parallel Advisors LLC now owns 153 shares of the medical equipment provider’s stock worth $129,000 after buying an additional 14 shares in the last quarter. Huntington National Bank increased its position in Intuitive Surgical by 14.1% in the first quarter. Huntington National Bank now owns 170 shares of the medical equipment provider’s stock worth $130,000 after buying an additional 21 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new position in Intuitive Surgical during the first quarter worth approximately $190,000. Hedge funds and other institutional investors own 94.35% of the company’s stock.
Intuitive Surgical, Inc. (NASDAQ:ISRG) opened at 987.40 on Wednesday. The stock has a market cap of $36.68 billion, a price-to-earnings ratio of 47.29 and a beta of 0.39. Intuitive Surgical, Inc. has a 52 week low of $610.71 and a 52 week high of $998.00. The stock’s 50 day moving average price is $953.87 and its 200 day moving average price is $854.47. Intuitive Surgical shares are scheduled to split on the morning of Thursday, August 31st. The 3-1 split was announced on Friday, August 11th. The newly issued shares will be distributed to shareholders after the closing bell on Wednesday, August 30th.
Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings data on Thursday, July 20th. The medical equipment provider reported $5.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $5.79 by $0.16. The firm had revenue of $756.20 million during the quarter, compared to analyst estimates of $724.51 million. Intuitive Surgical had a return on equity of 15.99% and a net margin of 28.44%. Intuitive Surgical’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the company earned $5.62 earnings per share. On average, analysts forecast that Intuitive Surgical, Inc. will post $23.92 earnings per share for the current year.
A number of research analysts have recently commented on the company. Vetr upgraded Intuitive Surgical from a “hold” rating to a “buy” rating and set a $1,020.34 target price for the company in a research report on Thursday, August 17th. Cantor Fitzgerald assumed coverage on Intuitive Surgical in a research report on Thursday, June 29th. They set a “neutral” rating and a $1,000.00 target price for the company. Morgan Stanley reiterated an “overweight” rating and set a $1,070.00 target price (up from $950.00) on shares of Intuitive Surgical in a research report on Tuesday, July 25th. Canaccord Genuity reiterated a “hold” rating and set a $1,000.00 target price (up from $870.00) on shares of Intuitive Surgical in a research report on Wednesday, July 26th. Finally, Barclays PLC increased their target price on Intuitive Surgical from $870.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Friday, July 21st. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $980.72.
In other Intuitive Surgical news, SVP Mark J. Meltzer sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $982.90, for a total value of $491,450.00. Following the completion of the sale, the senior vice president now directly owns 2,796 shares in the company, valued at $2,748,188.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gary S. Guthart sold 17,975 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $937.27, for a total value of $16,847,428.25. Following the completion of the sale, the chief executive officer now owns 101,798 shares of the company’s stock, valued at $95,412,211.46. The disclosure for this sale can be found here. Insiders sold a total of 33,565 shares of company stock valued at $31,233,270 over the last three months. Corporate insiders own 2.50% of the company’s stock.
Intuitive Surgical Company Profile
Intuitive Surgical, Inc (Intuitive) designs, manufactures and markets da Vinci Surgical Systems, and related instruments and accessories. The Company’s da Vinci Surgical System consists of a surgeon’s console, a patient-side cart and a vision system. The da Vinci Surgical System translates a surgeon’s hand movements, which are performed on instrument controls at a console, into corresponding micro-movements of instruments positioned inside the patient through small incisions or ports.
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