Bank of Nova Scotia Increases Stock Position in Intuitive Surgical, Inc. $ISRG

Bank of Nova Scotia boosted its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 24.9% in the second quarter, HoldingsChannel reports. The firm owned 347,491 shares of the medical equipment provider’s stock after acquiring an additional 69,355 shares during the period. Bank of Nova Scotia’s holdings in Intuitive Surgical were worth $188,827,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackDiamond Wealth Management LLC grew its stake in shares of Intuitive Surgical by 12.7% during the 2nd quarter. BlackDiamond Wealth Management LLC now owns 578 shares of the medical equipment provider’s stock valued at $311,000 after purchasing an additional 65 shares during the period. California Public Employees Retirement System boosted its holdings in shares of Intuitive Surgical by 7.0% in the second quarter. California Public Employees Retirement System now owns 602,140 shares of the medical equipment provider’s stock worth $327,209,000 after buying an additional 39,382 shares during the last quarter. Cerity Partners LLC boosted its holdings in shares of Intuitive Surgical by 2.2% in the second quarter. Cerity Partners LLC now owns 164,538 shares of the medical equipment provider’s stock worth $89,412,000 after buying an additional 3,604 shares during the last quarter. Dnca Finance grew its position in Intuitive Surgical by 111.6% during the second quarter. Dnca Finance now owns 21,050 shares of the medical equipment provider’s stock valued at $11,439,000 after buying an additional 11,100 shares during the period. Finally, Gamco Investors INC. ET AL increased its holdings in Intuitive Surgical by 3.7% during the second quarter. Gamco Investors INC. ET AL now owns 10,443 shares of the medical equipment provider’s stock valued at $5,675,000 after buying an additional 376 shares during the last quarter. 83.64% of the stock is owned by institutional investors.

Intuitive Surgical Stock Up 1.2%

ISRG stock opened at $575.34 on Monday. Intuitive Surgical, Inc. has a 52 week low of $425.00 and a 52 week high of $616.00. The firm has a market capitalization of $206.25 billion, a P/E ratio of 76.10, a price-to-earnings-growth ratio of 5.29 and a beta of 1.68. The company has a fifty day simple moving average of $518.60 and a two-hundred day simple moving average of $505.04.

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

Insider Buying and Selling

In other news, insider Gary S. Guthart sold 28,800 shares of Intuitive Surgical stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $547.56, for a total transaction of $15,769,728.00. Following the completion of the sale, the insider owned 27,027 shares of the company’s stock, valued at approximately $14,798,904.12. The trade was a 51.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Henry L. Charlton sold 13,731 shares of the stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $580.00, for a total value of $7,963,980.00. Following the transaction, the executive vice president directly owned 3,056 shares in the company, valued at $1,772,480. The trade was a 81.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 108,939 shares of company stock worth $60,757,995 over the last ninety days. 0.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Royal Bank Of Canada set a $625.00 price objective on shares of Intuitive Surgical and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Jefferies Financial Group boosted their price target on Intuitive Surgical from $550.00 to $560.00 and gave the company a “hold” rating in a report on Wednesday, October 22nd. Sanford C. Bernstein restated an “outperform” rating and issued a $685.00 price target on shares of Intuitive Surgical in a research report on Tuesday, October 21st. Wells Fargo & Company raised their price objective on Intuitive Surgical from $599.00 to $600.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Finally, Robert W. Baird set a $655.00 price objective on Intuitive Surgical in a research note on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Intuitive Surgical currently has an average rating of “Moderate Buy” and an average price target of $607.17.

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.