Bank of Nova Scotia Acquires 22 Shares of Intuitive Surgical, Inc. (ISRG)

Bank of Nova Scotia raised its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 2.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 878 shares of the medical equipment provider’s stock after buying an additional 22 shares during the period. Bank of Nova Scotia’s holdings in Intuitive Surgical were worth $673,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of ISRG. BlackRock Inc. raised its position in shares of Intuitive Surgical by 2,770.9% in the first quarter. BlackRock Inc. now owns 2,846,621 shares of the medical equipment provider’s stock valued at $2,181,851,000 after buying an additional 2,747,465 shares during the period. Edgewood Management LLC raised its position in shares of Intuitive Surgical by 38.8% in the first quarter. Edgewood Management LLC now owns 919,617 shares of the medical equipment provider’s stock valued at $704,859,000 after buying an additional 257,165 shares during the period. Waddell & Reed Financial Inc. raised its position in shares of Intuitive Surgical by 77.3% in the first quarter. Waddell & Reed Financial Inc. now owns 417,863 shares of the medical equipment provider’s stock valued at $320,280,000 after buying an additional 182,139 shares during the period. FMR LLC raised its position in shares of Intuitive Surgical by 3.4% in the first quarter. FMR LLC now owns 2,277,567 shares of the medical equipment provider’s stock valued at $1,745,686,000 after buying an additional 75,894 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC raised its position in shares of Intuitive Surgical by 13,808.4% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 72,880 shares of the medical equipment provider’s stock valued at $55,860,000 after buying an additional 72,356 shares during the period. 97.56% of the stock is currently owned by institutional investors.

Shares of Intuitive Surgical, Inc. (ISRG) opened at 942.04 on Wednesday. The firm has a market capitalization of $34.70 billion, a P/E ratio of 47.49 and a beta of 0.39. The firm’s 50-day moving average is $908.65 and its 200 day moving average is $772.09. Intuitive Surgical, Inc. has a one year low of $610.71 and a one year high of $963.54.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings results on Tuesday, April 18th. The medical equipment provider reported $5.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.97 by $1.12. The firm had revenue of $674.20 million for the quarter, compared to analysts’ expectations of $664.72 million. Intuitive Surgical had a return on equity of 15.41% and a net margin of 27.99%. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the prior year, the business earned $4.42 EPS. Equities research analysts predict that Intuitive Surgical, Inc. will post $23.62 earnings per share for the current year.

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ISRG has been the topic of several recent research reports. Canaccord Genuity reaffirmed a “buy” rating and issued a $800.00 target price on shares of Intuitive Surgical in a research note on Friday, March 24th. Morgan Stanley set a $950.00 target price on shares of Intuitive Surgical and gave the company an “overweight” rating in a research note on Monday, May 22nd. Royal Bank Of Canada raised their target price on shares of Intuitive Surgical from $720.00 to $770.00 and gave the company a “sector perform” rating in a research note on Monday, April 17th. Barclays PLC reaffirmed a “buy” rating and issued a $800.00 target price on shares of Intuitive Surgical in a research note on Sunday, March 26th. Finally, Leerink Swann reissued an “outperform” rating and set a $850.00 price objective (up previously from $840.00) on shares of Intuitive Surgical in a research note on Saturday, April 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $865.12.

In other Intuitive Surgical news, EVP Salvatore Brogna sold 1,306 shares of the stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $915.09, for a total transaction of $1,195,107.54. Following the transaction, the executive vice president now directly owns 977 shares in the company, valued at approximately $894,042.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Mark J. Meltzer sold 3,000 shares of the stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $887.09, for a total value of $2,661,270.00. Following the transaction, the senior vice president now owns 3,046 shares in the company, valued at $2,702,076.14. The disclosure for this sale can be found here. Insiders have sold a total of 55,306 shares of company stock worth $46,588,332 over the last 90 days. Company insiders own 2.50% of the company’s stock.

Intuitive Surgical Company Profile

Intuitive Surgical, Inc (Intuitive) designs, manufactures and markets da Vinci Surgical Systems, and related instruments and accessories. The Company’s da Vinci Surgical System consists of a surgeon’s console, a patient-side cart and a vision system. The da Vinci Surgical System translates a surgeon’s 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.

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

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