State of Michigan Retirement System lessened its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 47.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,807 shares of the medical equipment provider’s stock after selling 26,661 shares during the quarter. State of Michigan Retirement System’s holdings in Intuitive Surgical were worth $16,985,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of ISRG. TFG Advisers LLC purchased a new stake in Intuitive Surgical during the 4th quarter worth about $25,000. 1776 Wealth LLC increased its position in Intuitive Surgical by 72.2% during the 1st 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. Red Door Wealth Management LLC purchased a new stake in Intuitive Surgical during the 1st quarter worth about $33,000. Gemmer Asset Management LLC increased its position in Intuitive Surgical by 89.7% during the 1st 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. Finally, Jacobi Capital Management LLC increased its position in Intuitive Surgical by 59.1% during the 2nd quarter. Jacobi Capital Management LLC now owns 140 shares of the medical equipment provider’s stock worth $44,000 after purchasing an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 87.24% of the company’s stock.

In other Intuitive Surgical news, SVP Jamie Samath sold 286 shares of Intuitive Surgical stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $550.00, for a total transaction of $157,300.00. Following the sale, the senior vice president now directly owns 315 shares in the company, valued at approximately $173,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David J. Rosa sold 17,950 shares of Intuitive Surgical stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $553.49, for a total value of $9,935,145.50. Following the sale, the executive vice president now owns 37,269 shares in the company, valued at $20,628,018.81. The disclosure for this sale can be found here. Insiders have sold a total of 35,515 shares of company stock worth $21,147,697 over the last 90 days. 1.60% of the stock is owned by company insiders.

Intuitive Surgical stock traded down $1.95 during midday trading on Friday, hitting $685.44. 547,284 shares of the company were exchanged, compared to its average volume of 680,297. Intuitive Surgical, Inc. has a fifty-two week low of $360.50 and a fifty-two week high of $704.00. The company’s fifty day moving average price is $601.51 and its 200-day moving average price is $554.82. The company has a market cap of $80.44 billion, a PE ratio of 72.08, a price-to-earnings-growth ratio of 11.96 and a beta of 0.93.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings data on Tuesday, July 21st. The medical equipment provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.52. Intuitive Surgical had a return on equity of 13.62% and a net margin of 26.07%. The company had revenue of $852.10 million for the quarter, compared to the consensus estimate of $675.15 million. During the same period in the previous year, the business earned $3.25 EPS. On average, sell-side analysts predict that Intuitive Surgical, Inc. will post 7.17 earnings per share for the current fiscal year.

A number of research firms recently commented on ISRG. Wells Fargo & Co lifted their price objective on Intuitive Surgical from $632.00 to $727.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. SVB Leerink raised their price target on Intuitive Surgical from $590.00 to $650.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 22nd. Piper Sandler raised their price target on Intuitive Surgical from $510.00 to $595.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. They noted that the move was a valuation call. BTIG Research reissued a “hold” rating on shares of Intuitive Surgical in a research note on Friday, April 17th. Finally, UBS Group raised their price target on Intuitive Surgical from $565.00 to $670.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $660.67.

About Intuitive Surgical

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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Institutional Ownership by Quarter for Intuitive Surgical (NASDAQ:ISRG)

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