Independence Bank of Kentucky purchased a new stake in Intuitive Surgical, Inc. (NASDAQ:ISRG – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 350 shares of the medical equipment provider’s stock, valued at approximately $120,000.
Other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new position in Intuitive Surgical in the fourth quarter worth $915,360,000. Morgan Stanley lifted its position in Intuitive Surgical by 29.9% during the 4th quarter. Morgan Stanley now owns 5,866,613 shares of the medical equipment provider’s stock worth $1,556,706,000 after buying an additional 1,351,002 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Intuitive Surgical by 8.0% during the 4th quarter. Alliancebernstein L.P. now owns 7,373,473 shares of the medical equipment provider’s stock worth $1,956,551,000 after acquiring an additional 544,463 shares during the last quarter. BlackRock Inc. increased its position in Intuitive Surgical by 1.7% in the 1st quarter. BlackRock Inc. now owns 28,918,406 shares of the medical equipment provider’s stock valued at $7,387,785,000 after acquiring an additional 470,624 shares in the last quarter. Finally, Clearbridge Investments LLC raised its stake in shares of Intuitive Surgical by 23.1% in the first quarter. Clearbridge Investments LLC now owns 2,428,635 shares of the medical equipment provider’s stock worth $732,671,000 after acquiring an additional 455,461 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.
Insider Buying and Selling
In related news, Director Amy L. Ladd sold 500 shares of the business’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $305.68, for a total transaction of $152,840.00. Following the transaction, the director now directly owns 702 shares in the company, valued at $214,587.36. The sale was disclosed in a filing with the SEC, which is available through this link. In other Intuitive Surgical news, EVP Robert Desantis sold 2,535 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $323.26, for a total transaction of $819,464.10. Following the completion of the sale, the executive vice president now owns 7,259 shares of the company’s stock, valued at approximately $2,346,544.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Amy L. Ladd sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $305.68, for a total transaction of $152,840.00. Following the sale, the director now owns 702 shares of the company’s stock, valued at $214,587.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,309 shares of company stock worth $19,649,321. Insiders own 0.90% of the company’s stock.
Intuitive Surgical Trading Down 2.7 %
Intuitive Surgical (NASDAQ:ISRG – Get Free Report) last released its earnings results on Thursday, July 20th. The medical equipment provider reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.09. Intuitive Surgical had a return on equity of 12.41% and a net margin of 21.38%. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the prior year, the company posted $0.85 earnings per share. Intuitive Surgical’s revenue was up 15.4% on a year-over-year basis. As a group, research analysts predict that Intuitive Surgical, Inc. will post 4.53 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of analysts recently weighed in on the stock. StockNews.com initiated coverage on shares of Intuitive Surgical in a report on Thursday, August 17th. They issued a “buy” rating for the company. Barclays lifted their target price on Intuitive Surgical from $314.00 to $385.00 and gave the company an “overweight” rating in a research note on Monday, July 24th. Wells Fargo & Company lifted their target price on Intuitive Surgical from $310.00 to $386.00 and gave the company an “overweight” rating in a research note on Friday, July 21st. Morgan Stanley raised their target price on shares of Intuitive Surgical from $310.00 to $330.00 and gave the company an “equal weight” rating in a research note on Monday, July 24th. Finally, Robert W. Baird initiated coverage on shares of Intuitive Surgical in a research note on Tuesday, July 18th. They issued an “outperform” rating and a $377.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $343.10.
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 to enable 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.
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