California Public Employees Retirement System Raises Stake in Intuitive Surgical, Inc. $ISRG

California Public Employees Retirement System grew its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 7.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 602,140 shares of the medical equipment provider’s stock after purchasing an additional 39,382 shares during the period. California Public Employees Retirement System owned approximately 0.17% of Intuitive Surgical worth $327,209,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Tobam raised its holdings in Intuitive Surgical by 666.7% during the second quarter. Tobam now owns 46 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 40 shares in the last quarter. Kilter Group LLC acquired a new stake in Intuitive Surgical in the second quarter valued at $27,000. TD Capital Management LLC grew its stake in shares of Intuitive Surgical by 300.0% during the 1st quarter. TD Capital Management LLC now owns 60 shares of the medical equipment provider’s stock worth $30,000 after purchasing an additional 45 shares during the period. 1248 Management LLC purchased a new position in shares of Intuitive Surgical in the 1st quarter valued at about $30,000. Finally, Princeton Global Asset Management LLC acquired a new stake in shares of Intuitive Surgical in the second quarter valued at about $30,000. 83.64% of the stock is owned by institutional investors and hedge funds.

Intuitive Surgical Trading Up 1.2%

Shares of Intuitive Surgical stock opened at $575.34 on Friday. Intuitive Surgical, Inc. has a twelve month low of $425.00 and a twelve month high of $616.00. The business’s 50 day simple moving average is $518.60 and its 200-day simple moving average is $505.33. The stock has a market capitalization of $206.25 billion, a price-to-earnings ratio of 76.10, a PEG ratio of 5.29 and a beta of 1.68.

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Raymond James Financial set a $603.00 target price on shares of Intuitive Surgical and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Royal Bank Of Canada set a $625.00 price target on Intuitive Surgical and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. HSBC lifted their price objective on Intuitive Surgical from $595.00 to $644.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Jefferies Financial Group upped their target price on Intuitive Surgical from $550.00 to $560.00 and gave the company a “hold” rating in a report on Wednesday, October 22nd. Finally, Rothschild & Co Redburn lifted their price target on Intuitive Surgical from $610.00 to $615.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $607.17.

Insider Transactions at Intuitive Surgical

In other news, EVP Myriam Curet sold 7,562 shares of the company’s stock in a transaction on Tuesday, October 28th. The shares were sold at an average price of $548.43, for a total value of $4,147,227.66. Following the transaction, the executive vice president directly owned 353 shares of the company’s stock, valued at approximately $193,595.79. This represents a 95.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Brian Edward Miller sold 3,500 shares of the firm’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $575.00, for a total value of $2,012,500.00. Following the transaction, the executive vice president owned 5,758 shares in the company, valued at approximately $3,310,850. This trade represents a 37.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 108,939 shares of company stock worth $60,757,995. 0.70% of the stock is owned by company insiders.

About Intuitive Surgical

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.