Sumitomo Mitsui Financial Group Inc. Invests $391,000 in Intuitive Surgical, Inc. (ISRG) Stock

Sumitomo Mitsui Financial Group Inc. purchased a new position in Intuitive Surgical, Inc. (NASDAQ:ISRG) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 686 shares of the medical equipment provider’s stock, valued at approximately $391,000.

A number of other institutional investors have also modified their holdings of the business. CENTRAL TRUST Co raised its holdings in Intuitive Surgical by 26.4% during the 3rd quarter. CENTRAL TRUST Co now owns 460 shares of the medical equipment provider’s stock worth $264,000 after buying an additional 96 shares during the period. Wedbush Securities Inc. raised its holdings in Intuitive Surgical by 1.4% during the 2nd quarter. Wedbush Securities Inc. now owns 7,086 shares of the medical equipment provider’s stock worth $3,391,000 after buying an additional 98 shares during the period. Securian Asset Management Inc raised its holdings in Intuitive Surgical by 0.9% during the 2nd quarter. Securian Asset Management Inc now owns 11,795 shares of the medical equipment provider’s stock worth $5,644,000 after buying an additional 100 shares during the period. Wetherby Asset Management Inc. raised its holdings in Intuitive Surgical by 6.8% during the 3rd quarter. Wetherby Asset Management Inc. now owns 1,623 shares of the medical equipment provider’s stock worth $931,000 after buying an additional 103 shares during the period. Finally, Park Avenue Securities LLC raised its holdings in Intuitive Surgical by 17.6% during the 3rd quarter. Park Avenue Securities LLC now owns 735 shares of the medical equipment provider’s stock worth $422,000 after buying an additional 110 shares during the period. Hedge funds and other institutional investors own 83.68% of the company’s stock.

Several analysts have issued reports on ISRG shares. BTIG Research restated a “hold” rating on shares of Intuitive Surgical in a report on Sunday, July 22nd. Zacks Investment Research raised Intuitive Surgical from a “hold” rating to a “buy” rating and set a $582.00 target price on the stock in a research note on Tuesday, July 24th. BidaskClub cut Intuitive Surgical from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 31st. Citigroup lifted their target price on Intuitive Surgical from $561.00 to $592.00 and gave the company a “buy” rating in a research note on Thursday, August 2nd. Finally, Wells Fargo & Co lifted their target price on Intuitive Surgical from $575.00 to $635.00 and gave the company an “outperform” rating in a research note on Wednesday, September 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $553.69.

In related news, Director Mark J. Rubash sold 150 shares of the business’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $543.66, for a total value of $81,549.00. Following the completion of the sale, the director now owns 4,116 shares of the company’s stock, valued at approximately $2,237,704.56. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Amal M. Johnson sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 23rd. The shares were sold at an average price of $500.00, for a total value of $500,000.00. Following the completion of the sale, the director now directly owns 9,874 shares of the company’s stock, valued at approximately $4,937,000. The disclosure for this sale can be found here. In the last three months, insiders sold 47,311 shares of company stock valued at $24,144,846. 2.20% of the stock is currently owned by company insiders.

Shares of NASDAQ ISRG opened at $513.35 on Monday. The company has a market capitalization of $59.22 billion, a P/E ratio of 71.40, a PEG ratio of 3.48 and a beta of 1.02. Intuitive Surgical, Inc. has a 52 week low of $359.75 and a 52 week high of $581.12.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings results on Thursday, October 18th. The medical equipment provider reported $2.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.66 by $0.17. The business had revenue of $920.90 million during the quarter, compared to analysts’ expectations of $916.22 million. Intuitive Surgical had a return on equity of 18.79% and a net margin of 22.31%. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.77 EPS. On average, research analysts expect that Intuitive Surgical, Inc. will post 9.52 earnings per share for the current year.

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About Intuitive Surgical

Intuitive Surgical, Inc designs, manufactures, and markets da Vinci surgical systems, and related instruments and accessories. The company's da Vinci surgical System translates a surgeon's natural hand movements, which are performed on instrument controls at a console into corresponding micro-movements of instruments positioned inside the patient through small incisions or ports.

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

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