Frank Rimerman Advisors LLC Has $4.14 Million Position in Intuitive Surgical, Inc. $ISRG

Frank Rimerman Advisors LLC cut its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 15.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,257 shares of the medical equipment provider’s stock after selling 1,671 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Intuitive Surgical were worth $4,140,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Intuitive Surgical during the second quarter worth $2,569,260,000. Rakuten Investment Management Inc. bought a new position in Intuitive Surgical during the third quarter worth about $388,436,000. Vanguard Group Inc. grew its position in shares of Intuitive Surgical by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 33,335,833 shares of the medical equipment provider’s stock worth $18,115,025,000 after buying an additional 670,302 shares during the period. Jennison Associates LLC grew its position in shares of Intuitive Surgical by 20.4% during the 2nd quarter. Jennison Associates LLC now owns 3,122,390 shares of the medical equipment provider’s stock worth $1,696,738,000 after buying an additional 528,359 shares during the period. Finally, Bessemer Group Inc. increased its stake in shares of Intuitive Surgical by 89.3% in the 2nd quarter. Bessemer Group Inc. now owns 788,328 shares of the medical equipment provider’s stock valued at $428,386,000 after acquiring an additional 371,806 shares during the last quarter. Institutional investors own 83.64% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Mark Brosius sold 464 shares of the stock in a transaction on Monday, December 15th. The shares were sold at an average price of $548.49, for a total transaction of $254,499.36. Following the completion of the transaction, the senior vice president owned 131 shares in the company, valued at approximately $71,852.19. This represents a 77.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gary S. Guthart sold 24,500 shares of Intuitive Surgical stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $530.10, for a total transaction of $12,987,450.00. Following the completion of the sale, the director owned 3,694 shares in the company, valued at $1,958,189.40. The trade was a 86.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 75,683 shares of company stock valued at $42,066,425 over the last 90 days. 0.70% of the stock is currently owned by company insiders.

Intuitive Surgical Stock Performance

NASDAQ:ISRG opened at $504.22 on Friday. The stock has a 50-day simple moving average of $558.64 and a 200 day simple moving average of $511.63. Intuitive Surgical, Inc. has a 52-week low of $425.00 and a 52-week high of $609.08. The company has a market cap of $180.75 billion, a PE ratio of 63.91, a PEG ratio of 3.92 and a beta of 1.67.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings results on Thursday, January 22nd. The medical equipment provider reported $2.53 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.26. The firm had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.72 billion. Intuitive Surgical had a return on equity of 15.06% and a net margin of 28.38%.The business’s revenue was up 18.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.21 EPS. On average, research analysts predict that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ISRG shares. Royal Bank Of Canada lifted their price objective on shares of Intuitive Surgical from $625.00 to $650.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. Wells Fargo & Company lifted their price target on shares of Intuitive Surgical from $600.00 to $654.00 and gave the stock an “overweight” rating in a research report on Friday, December 12th. Sanford C. Bernstein upped their price objective on shares of Intuitive Surgical from $740.00 to $750.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. HSBC increased their price target on Intuitive Surgical from $644.00 to $653.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Finally, Citigroup reissued a “neutral” rating and set a $590.00 target price (down from $635.00) on shares of Intuitive Surgical in a research note on Friday, January 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $620.41.

Intuitive Surgical Profile

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon’s hand movements into finer, scaled motions of small instruments inside the patient. Intuitive’s business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.