Royal Bank of Canada Raises Stock Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Royal Bank of Canada grew its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRGFree Report) by 5.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,071,431 shares of the medical equipment provider’s stock after buying an additional 51,997 shares during the period. Royal Bank of Canada owned approximately 0.30% of Intuitive Surgical worth $313,168,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank purchased a new position in Intuitive Surgical during the 4th quarter valued at $915,360,000. Morgan Stanley boosted its position in Intuitive Surgical by 29.9% in the 4th quarter. Morgan Stanley now owns 5,866,613 shares of the medical equipment provider’s stock valued at $1,556,706,000 after buying an additional 1,351,002 shares during the period. Barclays PLC boosted its position in Intuitive Surgical by 159.5% in the 2nd quarter. Barclays PLC now owns 1,379,246 shares of the medical equipment provider’s stock valued at $471,619,000 after buying an additional 847,651 shares during the period. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in Intuitive Surgical in the 3rd quarter valued at about $178,667,000. Finally, AGF Management Ltd. lifted its holdings in shares of Intuitive Surgical by 206.7% in the 2nd quarter. AGF Management Ltd. now owns 789,876 shares of the medical equipment provider’s stock worth $270,090,000 after buying an additional 532,330 shares during the period. 82.91% of the stock is owned by hedge funds and other institutional investors.

Intuitive Surgical Stock Performance

Intuitive Surgical stock opened at $392.68 on Friday. Intuitive Surgical, Inc. has a fifty-two week low of $222.65 and a fifty-two week high of $403.00. The firm has a 50 day moving average price of $371.90 and a 200 day moving average price of $323.92. The company has a market capitalization of $138.35 billion, a PE ratio of 78.07, a price-to-earnings-growth ratio of 6.03 and a beta of 1.36.

Intuitive Surgical (NASDAQ:ISRGGet Free Report) last posted its earnings results on Tuesday, January 23rd. The medical equipment provider reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.12. The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.89 billion. Intuitive Surgical had a net margin of 25.24% and a return on equity of 13.11%. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.91 EPS. As a group, equities research analysts forecast that Intuitive Surgical, Inc. will post 4.93 earnings per share for the current year.

Wall Street Analyst Weigh In

ISRG has been the topic of several research reports. StockNews.com lowered shares of Intuitive Surgical from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Barclays raised their target price on Intuitive Surgical from $385.00 to $430.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. HSBC began coverage on Intuitive Surgical in a research note on Friday, November 17th. They set a “buy” rating and a $318.00 price objective for the company. Raymond James lifted their target price on shares of Intuitive Surgical from $372.00 to $435.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, Stifel Nicolaus lifted their target price on shares of Intuitive Surgical from $360.00 to $420.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $371.60.

Read Our Latest Stock Report on Intuitive Surgical

Insiders Place Their Bets

In other Intuitive Surgical news, SVP Mark Brosius sold 196 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $393.30, for a total value of $77,086.80. Following the completion of the transaction, the senior vice president now owns 1,450 shares in the company, valued at $570,285. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Myriam Curet sold 4,318 shares of the business’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $370.15, for a total transaction of $1,598,307.70. Following the completion of the transaction, the executive vice president now owns 189 shares in the company, valued at $69,958.35. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Mark Brosius sold 196 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $393.30, for a total value of $77,086.80. Following the completion of the transaction, the senior vice president now directly owns 1,450 shares of the company’s stock, valued at $570,285. The disclosure for this sale can be found here. Insiders sold a total of 222,752 shares of company stock worth $85,804,539 over the last 90 days. Corporate insiders own 0.90% of the company’s stock.

About Intuitive Surgical

(Free Report)

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.

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

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