Intuitive Surgical, Inc. (NASDAQ:ISRG) Stake Reduced by Bellevue Group AG

Bellevue Group AG cut its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 8.0% in the third quarter, HoldingsChannel.com reports. The firm owned 496,775 shares of the medical equipment provider’s stock after selling 43,129 shares during the quarter. Intuitive Surgical accounts for about 4.0% of Bellevue Group AG’s investment portfolio, making the stock its 4th largest holding. Bellevue Group AG’s holdings in Intuitive Surgical were worth $244,051,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Massachusetts Financial Services Co. MA purchased a new position in Intuitive Surgical during the 3rd quarter valued at about $558,807,000. International Assets Investment Management LLC boosted its stake in shares of Intuitive Surgical by 49,383.6% in the third quarter. International Assets Investment Management LLC now owns 1,090,619 shares of the medical equipment provider’s stock valued at $535,788,000 after purchasing an additional 1,088,415 shares during the period. FMR LLC grew its holdings in shares of Intuitive Surgical by 8.3% in the third quarter. FMR LLC now owns 10,971,085 shares of the medical equipment provider’s stock valued at $5,389,765,000 after purchasing an additional 838,793 shares in the last quarter. Strategic Financial Concepts LLC increased its stake in Intuitive Surgical by 40,221.4% during the 2nd quarter. Strategic Financial Concepts LLC now owns 266,121 shares of the medical equipment provider’s stock worth $1,184,000 after buying an additional 265,461 shares during the period. Finally, Manning & Napier Advisors LLC acquired a new stake in Intuitive Surgical during the 2nd quarter worth approximately $91,466,000. 83.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Robert W. Baird upped their price objective on Intuitive Surgical from $503.00 to $565.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Leerink Partners upped their price target on Intuitive Surgical from $489.00 to $502.00 in a report on Thursday, October 17th. Raymond James lifted their price objective on Intuitive Surgical from $500.00 to $540.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. upped their target price on shares of Intuitive Surgical from $495.00 to $575.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Intuitive Surgical in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $526.06.

Insider Transactions at Intuitive Surgical

In other news, General Counsel Gary Loeb sold 300 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $475.00, for a total transaction of $142,500.00. Following the completion of the transaction, the general counsel now directly owns 1,595 shares of the company’s stock, valued at approximately $757,625. This represents a 15.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Robert Desantis sold 238 shares of Intuitive Surgical stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $477.50, for a total value of $113,645.00. Following the completion of the sale, the executive vice president now owns 5,506 shares in the company, valued at approximately $2,629,115. This trade represents a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,459 shares of company stock worth $26,080,251 over the last 90 days. 0.90% of the stock is currently owned by insiders.

Intuitive Surgical Stock Performance

NASDAQ ISRG opened at $542.00 on Friday. Intuitive Surgical, Inc. has a one year low of $304.50 and a one year high of $552.00. The firm has a market cap of $193.05 billion, a PE ratio of 87.14, a P/E/G ratio of 5.33 and a beta of 1.39. The firm’s fifty day moving average is $510.03 and its two-hundred day moving average is $469.00.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings results on Thursday, October 17th. The medical equipment provider reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.32. Intuitive Surgical had a return on equity of 13.41% and a net margin of 28.51%. The firm had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Research analysts predict that Intuitive Surgical, Inc. will post 5.45 earnings per share for the current year.

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 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.