Public Employees Retirement System of Ohio Takes Position in Intuitive Surgical, Inc. $ISRG

Public Employees Retirement System of Ohio bought a new stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) in the 2nd quarter, Holdings Channel.com reports. The firm bought 140,550 shares of the medical equipment provider’s stock, valued at approximately $55,894,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Deutsche Bank AG increased its position in shares of Intuitive Surgical by 9.6% during the fourth quarter. Deutsche Bank AG now owns 1,522,191 shares of the medical equipment provider’s stock valued at $862,108,000 after buying an additional 132,966 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in Intuitive Surgical by 29.3% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 71,077 shares of the medical equipment provider’s stock worth $40,255,000 after buying an additional 16,119 shares during the period. Jag Capital Management LLC bought a new stake in Intuitive Surgical during the 4th quarter valued at approximately $18,771,000. Plato Investment Management Ltd bought a new stake in Intuitive Surgical during the 2nd quarter valued at approximately $4,315,000. Finally, Sycomore Asset Management purchased a new position in shares of Intuitive Surgical during the 4th quarter worth approximately $10,730,000. 83.64% of the stock is currently owned by institutional investors.

Intuitive Surgical Stock Down 0.9%

ISRG stock opened at $367.07 on Friday. Intuitive Surgical, Inc. has a twelve month low of $328.57 and a twelve month high of $603.88. The firm has a market cap of $129.68 billion, a PE ratio of 42.05, a price-to-earnings-growth ratio of 2.68 and a beta of 1.46. The business has a 50 day moving average of $385.28 and a 200 day moving average of $433.18.

Intuitive Surgical (NASDAQ:ISRG) last released its earnings results on Thursday, July 16th. The medical equipment provider reported $2.80 EPS for the quarter, topping the consensus estimate of $2.48 by $0.32. Intuitive Surgical had a return on equity of 16.91% and a net margin of 28.45%.The business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.83 billion. During the same period in the previous year, the company posted $1.81 earnings per share. The company’s revenue for the quarter was up 18.4% compared to the same quarter last year. On average, research analysts expect that Intuitive Surgical, Inc. will post 8.87 earnings per share for the current fiscal year.

Insider Activity

In other Intuitive Surgical news, Director Gary S. Guthart sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $400.00, for a total transaction of $4,000,000.00. Following the completion of the sale, the director directly owned 1,245,679 shares in the company, valued at approximately $498,271,600. This trade represents a 0.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Brosius sold 77 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $375.57, for a total transaction of $28,918.89. Following the completion of the transaction, the executive vice president owned 881 shares in the company, valued at approximately $330,877.17. This represents a 8.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 17,283 shares of company stock valued at $7,015,429. 0.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ISRG. Piper Sandler reaffirmed an “overweight” rating on shares of Intuitive Surgical in a research note on Friday, August 21st. BTIG Research dropped their target price on shares of Intuitive Surgical from $512.00 to $469.00 and set a “buy” rating on the stock in a report on Friday, July 17th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Intuitive Surgical in a research report on Monday, July 20th. Truist Financial decreased their price target on shares of Intuitive Surgical from $580.00 to $510.00 and set a “buy” rating for the company in a research note on Thursday, July 16th. Finally, UBS Group assumed coverage on shares of Intuitive Surgical in a research note on Tuesday, July 28th. They issued a “neutral” rating and a $500.00 price target for the company. Twenty-two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $508.68.

About Intuitive Surgical

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon’s hand movements into finer, scaled motions of small instruments inside the patient. Intuitive’s business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.