Teachers Retirement System of The State of Kentucky reduced its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 24.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,293 shares of the medical equipment provider’s stock after selling 9,807 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Intuitive Surgical were worth $17,262,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of ISRG. Public Employees Retirement Association of Colorado lifted its stake in Intuitive Surgical by 4.7% in the first quarter. Public Employees Retirement Association of Colorado now owns 22,070 shares of the medical equipment provider’s stock valued at $10,929,000 after buying an additional 1,000 shares during the period. First Trust Advisors LP increased its holdings in shares of Intuitive Surgical by 86.5% during the first quarter. First Trust Advisors LP now owns 53,230 shares of the medical equipment provider’s stock valued at $26,360,000 after acquiring an additional 24,690 shares in the last quarter. Cetera Advisor Networks LLC increased its holdings in shares of Intuitive Surgical by 22.0% during the first quarter. Cetera Advisor Networks LLC now owns 1,554 shares of the medical equipment provider’s stock valued at $770,000 after acquiring an additional 280 shares in the last quarter. Cetera Investment Advisers bought a new stake in shares of Intuitive Surgical during the first quarter valued at approximately $387,000. Finally, First Allied Advisory Services Inc. increased its holdings in shares of Intuitive Surgical by 1.1% during the first quarter. First Allied Advisory Services Inc. now owns 2,074 shares of the medical equipment provider’s stock valued at $1,027,000 after acquiring an additional 23 shares in the last quarter. 86.94% of the stock is currently owned by institutional investors.
Several equities research analysts have recently commented on ISRG shares. Sanford C. Bernstein boosted their price objective on Intuitive Surgical from $625.00 to $725.00 and gave the company an “outperform” rating in a report on Monday, July 20th. Piper Sandler boosted their price objective on Intuitive Surgical from $510.00 to $595.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. They noted that the move was a valuation call. BofA Securities downgraded Intuitive Surgical from a “buy” rating to a “neutral” rating and upped their price target for the stock from $725.00 to $760.00 in a report on Tuesday, September 8th. JPMorgan Chase & Co. upped their price target on Intuitive Surgical from $600.00 to $700.00 and gave the stock an “overweight” rating in a report on Wednesday, July 22nd. Finally, Raymond James upped their price target on Intuitive Surgical from $600.00 to $725.00 and gave the stock an “outperform” rating in a report on Wednesday, July 22nd. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. Intuitive Surgical currently has an average rating of “Hold” and a consensus target price of $680.52.
Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings results on Tuesday, July 21st. The medical equipment provider reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.52. Intuitive Surgical had a return on equity of 13.62% and a net margin of 26.07%. The firm had revenue of $852.10 million for the quarter, compared to analysts’ expectations of $675.15 million. During the same quarter in the prior year, the firm earned $3.25 EPS. Equities analysts anticipate that Intuitive Surgical, Inc. will post 7.09 earnings per share for the current year.
In related news, Director Mark J. Rubash sold 1,000 shares of the stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $723.73, for a total transaction of $723,730.00. Following the sale, the director now owns 5,560 shares of the company’s stock, valued at approximately $4,023,938.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alan J. Levy sold 1,800 shares of the stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $670.71, for a total value of $1,207,278.00. Insiders have sold a total of 29,880 shares of company stock worth $20,504,788 in the last ninety days. Insiders own 1.60% of the company’s stock.
Intuitive Surgical Company Profile
Intuitive Surgical, Inc designs, manufactures, and markets da Vinci surgical systems, and related instruments and accessories. Its da Vinci Surgical System transforms the surgeon's natural hand movements outside the body into corresponding micro-movements inside the patient's body. The company's da Vinci Surgical System include surgeon's consoles, patient-side carts, 3-D vision systems, da Vinci skills simulators, da Vinci Xi integrated table motions, and Firefly fluorescence imaging products that enable surgeons to perform various surgical procedures, including gynecologic, urologic, general, cardiothoracic, and head and neck surgical procedures.
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