Frank Rimerman Advisors LLC Has $4.14 Million Stock Position in Intuitive Surgical, Inc. $ISRG

Frank Rimerman Advisors LLC lowered its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 15.3% during the third quarter, HoldingsChannel reports. The firm owned 9,257 shares of the medical equipment provider’s stock after selling 1,671 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Intuitive Surgical were worth $4,140,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ISRG. Vanguard Group Inc. grew its position in shares of Intuitive Surgical by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 33,335,833 shares of the medical equipment provider’s stock valued at $18,115,025,000 after acquiring an additional 670,302 shares during the period. State Street Corp lifted its stake in Intuitive Surgical by 1.2% in the 2nd quarter. State Street Corp now owns 15,552,203 shares of the medical equipment provider’s stock valued at $8,451,223,000 after purchasing an additional 182,871 shares during the last quarter. Geode Capital Management LLC lifted its stake in Intuitive Surgical by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 8,188,685 shares of the medical equipment provider’s stock valued at $4,429,590,000 after purchasing an additional 109,904 shares during the last quarter. Norges Bank bought a new position in Intuitive Surgical during the second quarter worth about $2,569,260,000. Finally, Invesco Ltd. increased its position in Intuitive Surgical by 4.8% during the second quarter. Invesco Ltd. now owns 4,421,133 shares of the medical equipment provider’s stock worth $2,402,488,000 after buying an additional 201,159 shares during the last quarter. 83.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ISRG has been the subject of several research analyst reports. Hsbc Global Res upgraded Intuitive Surgical to a “strong-buy” rating in a research note on Thursday, October 23rd. Wells Fargo & Company raised their price target on Intuitive Surgical from $600.00 to $654.00 and gave the company an “overweight” rating in a report on Friday, December 12th. Citigroup reiterated a “neutral” rating and issued a $590.00 price objective (down from $635.00) on shares of Intuitive Surgical in a report on Friday, January 23rd. Robert W. Baird cut their target price on shares of Intuitive Surgical from $655.00 to $645.00 and set an “outperform” rating for the company in a research note on Friday, January 23rd. Finally, Leerink Partners lifted their target price on shares of Intuitive Surgical from $593.00 to $600.00 and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $620.41.

Insider Activity at Intuitive Surgical

In related news, Director Gary S. Guthart sold 24,500 shares of the stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $530.10, for a total transaction of $12,987,450.00. Following the sale, the director owned 3,694 shares of the company’s stock, valued at $1,958,189.40. This represents a 86.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Fredrik Widman sold 2,067 shares of Intuitive Surgical stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $550.00, for a total value of $1,136,850.00. Following the completion of the transaction, the vice president directly owned 473 shares of the company’s stock, valued at $260,150. This represents a 81.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 75,683 shares of company stock valued at $42,066,425. 0.70% of the stock is currently owned by company insiders.

Intuitive Surgical Stock Performance

Shares of Intuitive Surgical stock opened at $504.22 on Friday. The firm has a 50-day moving average of $558.64 and a 200-day moving average of $511.63. Intuitive Surgical, Inc. has a 52-week low of $425.00 and a 52-week high of $609.08. The stock has a market cap of $180.75 billion, a PE ratio of 63.91, a PEG ratio of 3.92 and a beta of 1.67.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings results on Thursday, January 22nd. The medical equipment provider reported $2.53 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.26. Intuitive Surgical had a net margin of 28.38% and a return on equity of 15.06%. The business had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.72 billion. During the same period last year, the firm earned $2.21 earnings per share. Intuitive Surgical’s revenue for the quarter was up 18.8% compared to the same quarter last year. Equities research analysts predict that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

About Intuitive Surgical

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.