Intuitive Surgical, Inc. $ISRG Stock: Maryland State Retirement & Pension System Raises Position

Maryland State Retirement & Pension System grew its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 12.7% in the third quarter, Holdings Channel reports. The firm owned 21,500 shares of the medical equipment provider’s stock after buying an additional 2,422 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Intuitive Surgical were worth $8,743,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank of America Corp DE boosted its position in shares of Intuitive Surgical by 3.3% during the first quarter. Bank of America Corp DE now owns 3,616,973 shares of the medical equipment provider’s stock valued at $1,667,388,000 after buying an additional 116,292 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Intuitive Surgical in the 2nd quarter worth about $1,335,753,000. Amundi raised its position in Intuitive Surgical by 8.6% in the 1st quarter. Amundi now owns 2,428,356 shares of the medical equipment provider’s stock worth $1,119,448,000 after buying an additional 193,096 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Intuitive Surgical by 95.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,105,544 shares of the medical equipment provider’s stock worth $970,635,000 after buying an additional 1,027,475 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in Intuitive Surgical by 10.8% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,893,485 shares of the medical equipment provider’s stock worth $769,948,000 after buying an additional 184,044 shares during the last quarter. Institutional investors own 83.64% of the company’s stock.

Insider Transactions at Intuitive Surgical

In related news, Director Gary S. Guthart sold 20,095 shares of the business’s stock in a transaction that occurred on Friday, October 23rd. The shares were sold at an average price of $451.61, for a total transaction of $9,075,102.95. Following the completion of the sale, the director directly owned 1,204,530 shares in the company, valued at approximately $543,977,793.30. The trade was a 1.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Craig H. Barratt sold 1,150 shares of the company’s stock in a transaction that occurred on Friday, October 23rd. The shares were sold at an average price of $443.80, for a total transaction of $510,370.00. Following the sale, the director directly owned 1,150 shares of the company’s stock, valued at approximately $510,370. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 39,456 shares of company stock worth $17,769,124. 0.60% of the stock is currently owned by corporate insiders.

Intuitive Surgical Stock Performance

ISRG stock opened at $439.89 on Friday. Intuitive Surgical, Inc. has a fifty-two week low of $328.57 and a fifty-two week high of $603.88. The business’s 50-day moving average is $416.12 and its two-hundred day moving average is $430.38. The company has a market cap of $152.48 billion, a price-to-earnings ratio of 53.19, a P/E/G ratio of 3.10 and a beta of 1.45.

Intuitive Surgical (NASDAQ:ISRG) last announced its earnings results on Tuesday, October 20th. The medical equipment provider reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.65 by $0.35. The business had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $2.91 billion. Intuitive Surgical had a return on equity of 18.17% and a net margin of 25.54%. The business’s revenue for the quarter was up 21.7% on a year-over-year basis. During the same period last year, the firm posted $2.40 earnings per share. Equities analysts predict that Intuitive Surgical, Inc. will post 9.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ISRG. BNP Paribas Exane raised shares of Intuitive Surgical to an “outperform” rating in a report on Tuesday, July 28th. Piper Sandler reissued an “overweight” rating on shares of Intuitive Surgical in a report on Friday, August 21st. Citigroup decreased their price objective on shares of Intuitive Surgical from $590.00 to $500.00 and set a “buy” rating for the company in a report on Friday, July 17th. HSBC downgraded shares of Intuitive Surgical from a “buy” rating to a “hold” rating and set a $391.00 price objective on the stock. in a research report on Thursday, July 30th. Finally, Erste Group Bank upgraded shares of Intuitive Surgical from a “hold” rating to a “buy” rating in a report on Wednesday, October 21st. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $493.54.

Intuitive Surgical Profile

Intuitive Surgical develops, manufactures and markets robotic-assisted systems for minimally invasive procedures. Its products include da Vinci surgical systems, which allow surgeons to control instruments and a high-definition vision system from a console, as well as the Ion endoluminal system, designed to assist with minimally invasive lung biopsies. The company also provides instruments, accessories, training and support services for its systems. Its technology is used in a range of surgical specialties, including urology, general surgery and gynecology.