Dakota Wealth Management Lowers Stock Position in Intuitive Surgical, Inc. $ISRG

Dakota Wealth Management cut its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 63.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,692 shares of the medical equipment provider’s stock after selling 8,291 shares during the quarter. Dakota Wealth Management’s holdings in Intuitive Surgical were worth $2,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Intuitive Surgical in the second quarter worth $2,569,260,000. Rakuten Investment Management Inc. bought a new stake in Intuitive Surgical during the third quarter worth about $388,436,000. Vanguard Group Inc. increased 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 valued at $18,115,025,000 after purchasing an additional 670,302 shares during the last quarter. Jennison Associates LLC increased 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 valued at $1,696,738,000 after purchasing an additional 528,359 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in Intuitive Surgical by 27.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,089,293 shares of the medical equipment provider’s stock worth $591,933,000 after buying an additional 231,980 shares during the last quarter. Institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Stock Up 2.5%

Shares of Intuitive Surgical stock opened at $506.17 on Thursday. The company’s fifty day simple moving average is $532.31 and its two-hundred day simple moving average is $511.29. Intuitive Surgical, Inc. has a 12-month low of $425.00 and a 12-month high of $603.88. The firm has a market cap of $179.76 billion, a PE ratio of 64.15, a price-to-earnings-growth ratio of 3.83 and a beta of 1.65.

Intuitive Surgical (NASDAQ:ISRG) last posted its 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 company had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.72 billion. Intuitive Surgical had a net margin of 28.38% and a return on equity of 15.06%. Intuitive Surgical’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.21 earnings per share. As a group, sell-side analysts expect that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on ISRG. Raymond James Financial increased their price target on shares of Intuitive Surgical from $603.00 to $615.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Intuitive Surgical in a research note on Monday, December 29th. Argus decreased their target price on shares of Intuitive Surgical from $630.00 to $560.00 and set a “buy” rating on the stock in a research report on Wednesday, February 4th. Citigroup restated a “neutral” rating and set a $590.00 price target (down from $635.00) on shares of Intuitive Surgical in a research report on Friday, January 23rd. Finally, Robert W. Baird decreased their price objective on Intuitive Surgical from $655.00 to $645.00 and set an “outperform” rating on the stock in a report on Friday, January 23rd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $615.86.

Insiders Place Their Bets

In related news, SVP Mark Brosius sold 464 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was 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 $71,852.19. This represents a 77.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Fredrik Widman sold 133 shares of Intuitive Surgical stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $494.96, for a total transaction of $65,829.68. Following the completion of the sale, the vice president owned 660 shares in the company, valued at approximately $326,673.60. This trade represents a 16.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 56,189 shares of company stock valued at $30,785,441 in the last 90 days. 0.70% of the stock is owned by corporate insiders.

Intuitive Surgical Company 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.