Global X Japan Co. Ltd. Sells 2,924 Shares of Intuitive Surgical, Inc. $ISRG

Global X Japan Co. Ltd. trimmed its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 6.8% during the third quarter, Holdings Channel reports. The institutional investor owned 40,025 shares of the medical equipment provider’s stock after selling 2,924 shares during the quarter. Intuitive Surgical makes up about 1.5% of Global X Japan Co. Ltd.’s investment portfolio, making the stock its 18th biggest holding. Global X Japan Co. Ltd.’s holdings in Intuitive Surgical were worth $17,900,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Swedbank AB lifted its stake in shares of Intuitive Surgical by 38.4% during the third quarter. Swedbank AB now owns 731,221 shares of the medical equipment provider’s stock valued at $327,024,000 after acquiring an additional 202,807 shares during the period. Optas LLC lifted its position in Intuitive Surgical by 35.6% during the 3rd quarter. Optas LLC now owns 975 shares of the medical equipment provider’s stock valued at $436,000 after purchasing an additional 256 shares during the period. DAVENPORT & Co LLC boosted its stake in shares of Intuitive Surgical by 39.6% in the 3rd quarter. DAVENPORT & Co LLC now owns 160,004 shares of the medical equipment provider’s stock valued at $71,236,000 after purchasing an additional 45,427 shares during the last quarter. Meriwether Wealth & Planning LLC boosted its stake in shares of Intuitive Surgical by 5.2% in the 3rd quarter. Meriwether Wealth & Planning LLC now owns 1,204 shares of the medical equipment provider’s stock valued at $538,000 after purchasing an additional 59 shares during the last quarter. Finally, Welch Group LLC grew its position in shares of Intuitive Surgical by 9.8% during the 3rd quarter. Welch Group LLC now owns 505 shares of the medical equipment provider’s stock worth $226,000 after buying an additional 45 shares during the period. 83.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Citigroup lowered shares of Intuitive Surgical from a “buy” rating to a “neutral” rating and cut their price objective for the company from $650.00 to $635.00 in a report on Thursday, December 11th. Mizuho set a $575.00 price target on Intuitive Surgical in a research note on Wednesday, October 22nd. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $685.00 price objective on shares of Intuitive Surgical in a research note on Tuesday, October 21st. The Goldman Sachs Group upped their price objective on Intuitive Surgical from $567.00 to $621.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. Finally, Zacks Research raised Intuitive Surgical from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 24th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Intuitive Surgical currently has an average rating of “Moderate Buy” and an average target price of $611.08.

Insider Activity

In related news, EVP Myriam Curet sold 104 shares of the firm’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $559.90, for a total transaction of $58,229.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Craig H. Barratt sold 750 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $580.00, for a total transaction of $435,000.00. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 114,007 shares of company stock worth $63,533,844. Corporate insiders own 0.70% of the company’s stock.

Intuitive Surgical Trading Down 0.4%

ISRG stock opened at $577.34 on Wednesday. Intuitive Surgical, Inc. has a 1-year low of $425.00 and a 1-year high of $616.00. The firm has a market cap of $206.96 billion, a PE ratio of 76.37, a P/E/G ratio of 5.33 and a beta of 1.68. The business’s 50-day moving average price is $547.18 and its two-hundred day moving average price is $505.91.

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, topping analysts’ consensus estimates of $1.99 by $0.41. Intuitive Surgical had a return on equity of 15.08% and a net margin of 28.58%.The company had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter last year, the firm 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 earnings per share for the current year.

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.