Gateway Investment Advisers LLC decreased its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 2.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 88,155 shares of the medical equipment provider’s stock after selling 2,069 shares during the period. Gateway Investment Advisers LLC’s holdings in Intuitive Surgical were worth $42,180,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. LPL Financial LLC lifted its holdings in Intuitive Surgical by 309.0% during the 4th quarter. LPL Financial LLC now owns 16,124 shares of the medical equipment provider’s stock valued at $5,884,000 after buying an additional 12,182 shares in the last quarter. Castleark Management LLC lifted its holdings in Intuitive Surgical by 198.3% during the 4th quarter. Castleark Management LLC now owns 21,180 shares of the medical equipment provider’s stock valued at $7,729,000 after buying an additional 14,080 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in Intuitive Surgical by 172.2% during the 4th quarter. Macquarie Group Ltd. now owns 38,253 shares of the medical equipment provider’s stock valued at $13,791,000 after buying an additional 24,202 shares in the last quarter. Fieldpoint Private Securities LLC bought a new stake in Intuitive Surgical during the 4th quarter valued at about $146,000. Finally, Slow Capital Inc. bought a new stake in Intuitive Surgical during the 4th quarter valued at about $2,196,000. Institutional investors own 85.45% of the company’s stock.

NASDAQ ISRG traded up $2.11 during trading on Wednesday, reaching $504.22. 881,686 shares of the company’s stock traded hands, compared to its average volume of 838,867. The company has a market capitalization of $56.58 billion, a price-to-earnings ratio of 69.98, a price-to-earnings-growth ratio of 4.45 and a beta of 0.58. Intuitive Surgical, Inc. has a 12-month low of $307.00 and a 12-month high of $506.92.

Intuitive Surgical (NASDAQ:ISRG) last posted its earnings results on Tuesday, April 17th. The medical equipment provider reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.37. Intuitive Surgical had a net margin of 23.25% and a return on equity of 20.72%. The business had revenue of $848.00 million for the quarter, compared to the consensus estimate of $773.20 million. During the same quarter last year, the firm posted $5.09 EPS. The company’s revenue for the quarter was up 25.8% on a year-over-year basis. equities research analysts expect that Intuitive Surgical, Inc. will post 8.84 earnings per share for the current year.

In other news, COO Salvatore Brogna sold 2,655 shares of Intuitive Surgical stock in a transaction that occurred on Friday, June 1st. The shares were sold at an average price of $463.15, for a total value of $1,229,663.25. Following the transaction, the chief operating officer now owns 2,050 shares of the company’s stock, valued at approximately $949,457.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Gary S. Guthart sold 36,642 shares of Intuitive Surgical stock in a transaction that occurred on Monday, April 30th. The stock was sold at an average price of $446.96, for a total transaction of $16,377,508.32. Following the completion of the transaction, the chief executive officer now directly owns 340,184 shares in the company, valued at approximately $152,048,640.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 170,767 shares of company stock worth $77,995,219. Insiders own 2.20% of the company’s stock.

ISRG has been the subject of a number of research analyst reports. Bank of America lifted their price objective on shares of Intuitive Surgical from $465.00 to $510.00 and gave the company a “buy” rating in a report on Wednesday, April 18th. Vetr lowered shares of Intuitive Surgical from a “strong-buy” rating to a “buy” rating and set a $454.14 price objective for the company. in a report on Tuesday, April 10th. Leerink Swann reiterated an “outperform” rating and set a $510.00 price objective (up previously from $475.00) on shares of Intuitive Surgical in a report on Wednesday, April 18th. Cantor Fitzgerald raised their target price on shares of Intuitive Surgical to $510.00 and gave the company an “overweight” rating in a research report on Wednesday, April 18th. Finally, Sanford C. Bernstein began coverage on shares of Intuitive Surgical in a research report on Wednesday, June 27th. They set an “outperform” rating and a $560.00 target price on the stock. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Intuitive Surgical presently has an average rating of “Buy” and a consensus price target of $464.21.

About Intuitive Surgical

Intuitive Surgical, Inc designs, manufactures, and markets da Vinci surgical systems, and related instruments and accessories. The company's da Vinci surgical System translates a surgeon's natural 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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Institutional Ownership by Quarter for Intuitive Surgical (NASDAQ:ISRG)

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