Simplify Asset Management Inc. Decreases Holdings in Intuitive Surgical, Inc. $ISRG

Simplify Asset Management Inc. lowered its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 28.8% during the second quarter, HoldingsChannel reports. The fund owned 8,699 shares of the medical equipment provider’s stock after selling 3,524 shares during the period. Intuitive Surgical accounts for about 0.2% of Simplify Asset Management Inc.’s investment portfolio, making the stock its 26th biggest holding. Simplify Asset Management Inc.’s holdings in Intuitive Surgical were worth $4,727,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ISRG. Princeton Global Asset Management LLC acquired a new position in shares of Intuitive Surgical in the 2nd quarter valued at $30,000. TD Capital Management LLC lifted its position in Intuitive Surgical by 300.0% in the first quarter. TD Capital Management LLC now owns 60 shares of the medical equipment provider’s stock valued at $30,000 after acquiring an additional 45 shares during the last quarter. 1248 Management LLC acquired a new position in Intuitive Surgical in the first quarter valued at $30,000. Bank of Jackson Hole Trust grew its holdings in shares of Intuitive Surgical by 70.5% during the first quarter. Bank of Jackson Hole Trust now owns 75 shares of the medical equipment provider’s stock worth $37,000 after purchasing an additional 31 shares during the last quarter. Finally, First Command Advisory Services Inc. grew its holdings in shares of Intuitive Surgical by 3,750.0% during the second quarter. First Command Advisory Services Inc. now owns 77 shares of the medical equipment provider’s stock worth $42,000 after purchasing an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on ISRG shares. UBS Group set a $600.00 target price on Intuitive Surgical and gave the company a “neutral” rating in a research report on Thursday, October 23rd. Leerink Partners raised their target price on shares of Intuitive Surgical from $593.00 to $600.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Piper Sandler upped their price target on shares of Intuitive Surgical from $595.00 to $610.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Wall Street Zen lowered shares of Intuitive Surgical from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, The Goldman Sachs Group increased their target price on shares of Intuitive Surgical from $567.00 to $621.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Intuitive Surgical currently has an average rating of “Moderate Buy” and an average price target of $608.92.

Insider Activity at Intuitive Surgical

In related news, EVP Myriam Curet sold 7,562 shares of the company’s stock in a transaction on Tuesday, October 28th. The stock was sold at an average price of $548.43, for a total transaction of $4,147,227.66. Following the transaction, the executive vice president owned 353 shares of the company’s stock, valued at $193,595.79. This represents a 95.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David J. Rosa sold 24,500 shares of the stock in a transaction on Friday, October 24th. The stock was sold at an average price of $547.55, for a total value of $13,414,975.00. Following the completion of the transaction, the chief executive officer owned 234,256 shares of the company’s stock, valued at $128,266,872.80. The trade was a 9.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 98,078 shares of company stock worth $51,445,892 in the last three months. 0.70% of the stock is currently owned by corporate insiders.

Intuitive Surgical Stock Performance

Shares of Intuitive Surgical stock opened at $576.20 on Tuesday. Intuitive Surgical, Inc. has a one year low of $425.00 and a one year high of $616.00. The company has a market cap of $206.55 billion, a P/E ratio of 76.22, a PEG ratio of 4.94 and a beta of 1.62. The firm has a fifty day moving average of $473.95 and a two-hundred day moving average of $501.59.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings results on Tuesday, October 21st. The medical equipment provider reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.41. The business had revenue of $2.51 billion for 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 was up 22.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.84 earnings per share. As a group, equities analysts predict that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Intuitive Surgical Company Profile

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.