Sumitomo Mitsui Trust Group Inc. Has $712.66 Million Stock Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 3.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,450,638 shares of the medical equipment provider’s stock after acquiring an additional 48,658 shares during the period. Intuitive Surgical accounts for 0.5% of Sumitomo Mitsui Trust Group Inc.’s investment portfolio, making the stock its 29th biggest holding. Sumitomo Mitsui Trust Group Inc. owned approximately 0.41% of Intuitive Surgical worth $712,655,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Baillie Gifford & Co. lifted its position in shares of Intuitive Surgical by 0.6% during the 3rd quarter. Baillie Gifford & Co. now owns 3,848,547 shares of the medical equipment provider’s stock worth $1,890,676,000 after purchasing an additional 24,183 shares during the last quarter. WealthPlan Investment Management LLC lifted its holdings in shares of Intuitive Surgical by 34.9% during the third quarter. WealthPlan Investment Management LLC now owns 1,983 shares of the medical equipment provider’s stock worth $974,000 after buying an additional 513 shares during the last quarter. First National Trust Co grew its stake in shares of Intuitive Surgical by 1.5% in the third quarter. First National Trust Co now owns 12,919 shares of the medical equipment provider’s stock worth $6,347,000 after acquiring an additional 197 shares during the last quarter. Harbour Investments Inc. increased its position in Intuitive Surgical by 2.6% during the third quarter. Harbour Investments Inc. now owns 1,512 shares of the medical equipment provider’s stock worth $743,000 after acquiring an additional 39 shares during the period. Finally, Apollon Wealth Management LLC raised its stake in Intuitive Surgical by 2.2% during the 3rd quarter. Apollon Wealth Management LLC now owns 10,536 shares of the medical equipment provider’s stock valued at $5,176,000 after purchasing an additional 228 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Robert Desantis sold 188 shares of Intuitive Surgical stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $482.21, for a total transaction of $90,655.48. Following the completion of the sale, the executive vice president now owns 5,506 shares in the company, valued at $2,655,048.26. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Gary S. Guthart sold 18,151 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $511.63, for a total value of $9,286,596.13. Following the completion of the sale, the chief executive officer now directly owns 24,219 shares of the company’s stock, valued at $12,391,166.97. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Robert Desantis sold 188 shares of Intuitive Surgical stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $482.21, for a total transaction of $90,655.48. Following the transaction, the executive vice president now directly owns 5,506 shares in the company, valued at $2,655,048.26. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 68,006 shares of company stock valued at $33,727,766. 0.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ISRG shares. Oppenheimer restated a “market perform” rating on shares of Intuitive Surgical in a report on Friday, October 18th. Truist Financial upped their price target on Intuitive Surgical from $520.00 to $570.00 and gave the company a “buy” rating in a report on Monday, October 14th. Redburn Atlantic raised Intuitive Surgical from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $380.00 to $510.00 in a report on Friday, August 2nd. Mizuho upped their target price on Intuitive Surgical from $440.00 to $500.00 in a research note on Thursday, October 17th. Finally, Citigroup lifted their price target on shares of Intuitive Surgical from $512.00 to $560.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $513.74.

Intuitive Surgical Stock Performance

Shares of ISRG stock opened at $535.75 on Tuesday. The stock has a market capitalization of $190.82 billion, a PE ratio of 86.13, a PEG ratio of 5.27 and a beta of 1.39. Intuitive Surgical, Inc. has a 52 week low of $281.12 and a 52 week high of $542.59. The stock’s fifty day moving average is $494.78 and its 200-day moving average is $453.94.

Intuitive Surgical (NASDAQ:ISRG) last released its earnings results on Thursday, October 17th. The medical equipment provider reported $1.56 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 company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.01 billion. As a group, analysts forecast that Intuitive Surgical, Inc. will post 5.45 earnings per share for the current fiscal year.

Intuitive Surgical 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.