Resona Asset Management Co. Ltd. Has $120.71 Million Stake in Intuitive Surgical, Inc. $ISRG

Resona Asset Management Co. Ltd. increased its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 7.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 223,032 shares of the medical equipment provider’s stock after buying an additional 15,379 shares during the period. Intuitive Surgical accounts for approximately 0.6% of Resona Asset Management Co. Ltd.’s investment portfolio, making the stock its 24th biggest position. Resona Asset Management Co. Ltd.’s holdings in Intuitive Surgical were worth $120,706,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ISRG. TD Capital Management LLC increased its holdings in Intuitive Surgical by 300.0% during the first quarter. TD Capital Management LLC now owns 60 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 45 shares during the last quarter. 1248 Management LLC acquired a new position in Intuitive Surgical during the first quarter worth $30,000. Princeton Global Asset Management LLC acquired a new position in Intuitive Surgical during the second quarter worth $30,000. Bank of Jackson Hole Trust increased its holdings in shares of Intuitive Surgical by 70.5% in the first quarter. Bank of Jackson Hole Trust now owns 75 shares of the medical equipment provider’s stock valued at $37,000 after purchasing an additional 31 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC increased its holdings in shares of Intuitive Surgical by 49.1% in the first quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the medical equipment provider’s stock valued at $41,000 after purchasing an additional 27 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Craig H. Barratt sold 2,193 shares of the company’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $548.01, for a total transaction of $1,201,785.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David J. Rosa sold 24,500 shares of the company’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $547.55, for a total transaction of $13,414,975.00. Following the sale, the chief executive officer directly owned 234,256 shares of the company’s stock, valued at $128,266,872.80. This represents a 9.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 96,011 shares of company stock valued at $50,309,042 in the last three months. Insiders own 0.70% of the company’s stock.

Intuitive Surgical Stock Performance

ISRG stock opened at $548.55 on Thursday. The company’s 50-day simple moving average is $468.68 and its 200 day simple moving average is $499.90. Intuitive Surgical, Inc. has a 52 week low of $425.00 and a 52 week high of $616.00. The company has a market capitalization of $196.64 billion, a PE ratio of 72.56, a price-to-earnings-growth ratio of 4.94 and a beta of 1.61.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings results on Tuesday, October 21st. The medical equipment provider reported $2.40 EPS for the quarter, beating the consensus estimate of $1.99 by $0.41. Intuitive Surgical had a net margin of 28.58% and a return on equity of 15.08%. The business had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the prior year, the company posted $1.84 earnings per share. Intuitive Surgical’s revenue was up 22.9% compared to the same quarter last year. On average, analysts forecast that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

Wall Street Analyst Weigh In

ISRG has been the topic of several research reports. The Goldman Sachs Group upped their price objective on shares of Intuitive Surgical from $567.00 to $621.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. Argus upped their price objective on shares of Intuitive Surgical from $600.00 to $630.00 in a report on Monday, October 27th. Rothschild & Co Redburn upped their price objective on shares of Intuitive Surgical from $610.00 to $615.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Leerink Partners upped their price objective on shares of Intuitive Surgical from $593.00 to $600.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $685.00 price objective on shares of Intuitive Surgical in a report on Tuesday, October 21st. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Intuitive Surgical has a consensus rating of “Moderate Buy” and a consensus price target of $608.92.

Intuitive Surgical Company Profile

Intuitive Surgical, Inc develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally. The company offers the da Vinci Surgical System that enables complex surgery using a minimally invasive approach; and Ion endoluminal system, which extends its commercial offerings beyond surgery into diagnostic procedures enabling minimally invasive biopsies in the lung.