The Manufacturers Life Insurance Company Boosts Stake in Intuitive Surgical, Inc. (NASDAQ:ISRG)
The Manufacturers Life Insurance Company lifted its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 15.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,588 shares of the medical equipment provider’s stock after buying an additional 17,092 shares during the quarter. The Manufacturers Life Insurance Company owned 0.11% of Intuitive Surgical worth $62,193,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the stock. TFG Advisers LLC purchased a new stake in Intuitive Surgical during the fourth quarter worth $25,000. 1776 Wealth LLC boosted its position in Intuitive Surgical by 72.2% during the first quarter. 1776 Wealth LLC now owns 62 shares of the medical equipment provider’s stock worth $30,000 after purchasing an additional 26 shares in the last quarter. Virtus ETF Advisers LLC purchased a new stake in Intuitive Surgical during the fourth quarter worth $31,000. Red Door Wealth Management LLC purchased a new stake in Intuitive Surgical during the first quarter worth $33,000. Finally, Gemmer Asset Management LLC boosted its position in Intuitive Surgical by 89.7% during the first quarter. Gemmer Asset Management LLC now owns 74 shares of the medical equipment provider’s stock worth $37,000 after purchasing an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 87.29% of the company’s stock.
In other Intuitive Surgical news, Director Alan J. Levy sold 1,950 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $575.00, for a total transaction of $1,121,250.00. Following the completion of the sale, the director now directly owns 9,789 shares in the company, valued at $5,628,675. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Curet Myriam sold 3,000 shares of the company’s stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $503.76, for a total value of $1,511,280.00. Following the sale, the executive vice president now owns 3,816 shares of the company’s stock, valued at $1,922,348.16. The disclosure for this sale can be found here. Insiders have sold 34,223 shares of company stock valued at $18,611,408 over the last 90 days. 1.60% of the stock is currently owned by insiders.
Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings results on Thursday, April 16th. The medical equipment provider reported $2.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.54 by $0.15. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.01 billion. Intuitive Surgical had a return on equity of 17.40% and a net margin of 30.11%. The firm’s revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.61 earnings per share. Research analysts expect that Intuitive Surgical, Inc. will post 6.78 EPS for the current year.
A number of research firms have commented on ISRG. Raymond James decreased their target price on Intuitive Surgical from $660.00 to $600.00 and set an “outperform” rating on the stock in a research report on Monday, April 13th. JPMorgan Chase & Co. boosted their target price on Intuitive Surgical from $565.00 to $600.00 and gave the stock an “overweight” rating in a research report on Thursday, June 18th. Cfra cut Intuitive Surgical from a “hold” rating to a “sell” rating in a report on Friday, April 17th. Deutsche Bank cut their price target on Intuitive Surgical from $595.00 to $500.00 and set a “hold” rating for the company in a report on Friday, April 17th. Finally, ValuEngine raised Intuitive Surgical from a “sell” rating to a “hold” rating in a report on Friday, March 13th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Intuitive Surgical presently has an average rating of “Hold” and an average target price of $577.83.
Intuitive Surgical Company Profile
Intuitive Surgical, Inc designs, manufactures, and markets da Vinci surgical systems, and related instruments and accessories. Its da Vinci Surgical System transforms the surgeon's natural hand movements outside the body into corresponding micro-movements inside the patient's body. The company's da Vinci Surgical System include surgeon's consoles, patient-side carts, 3-D vision systems, da Vinci skills simulators, da Vinci Xi integrated table motions, and Firefly fluorescence imaging products that enable surgeons to perform various surgical procedures, including gynecologic, urologic, general, cardiothoracic, and head and neck surgical procedures.
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