Simplify Asset Management Inc. Acquires 7,892 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Simplify Asset Management Inc. increased its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 51.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,230 shares of the medical equipment provider’s stock after buying an additional 7,892 shares during the period. Intuitive Surgical accounts for approximately 0.5% of Simplify Asset Management Inc.’s investment portfolio, making the stock its 20th biggest holding. Simplify Asset Management Inc.’s holdings in Intuitive Surgical were worth $11,412,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Empowered Funds LLC increased its position in Intuitive Surgical by 4.4% in the third quarter. Empowered Funds LLC now owns 8,177 shares of the medical equipment provider’s stock worth $4,017,000 after buying an additional 345 shares during the last quarter. Empirical Finance LLC boosted its holdings in Intuitive Surgical by 2.3% in the 3rd quarter. Empirical Finance LLC now owns 12,106 shares of the medical equipment provider’s stock valued at $5,947,000 after purchasing an additional 269 shares during the period. Sheaff Brock Investment Advisors LLC purchased a new position in Intuitive Surgical during the third quarter worth about $5,910,000. CIBC Asset Management Inc grew its holdings in shares of Intuitive Surgical by 5.3% during the third quarter. CIBC Asset Management Inc now owns 189,822 shares of the medical equipment provider’s stock worth $93,254,000 after purchasing an additional 9,524 shares in the last quarter. Finally, FUKOKU MUTUAL LIFE INSURANCE Co raised its position in shares of Intuitive Surgical by 2.6% during the 3rd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 2,207 shares of the medical equipment provider’s stock valued at $1,084,000 after buying an additional 56 shares in the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ISRG shares. Robert W. Baird boosted their price objective on shares of Intuitive Surgical from $503.00 to $565.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Piper Sandler reissued an “overweight” rating and set a $538.00 price objective (up from $495.00) on shares of Intuitive Surgical in a research report on Friday, October 18th. Raymond James raised their target price on Intuitive Surgical from $500.00 to $540.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Mizuho upped their price target on Intuitive Surgical from $440.00 to $500.00 in a research note on Thursday, October 17th. Finally, Leerink Partners boosted their price target on Intuitive Surgical from $489.00 to $502.00 in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $513.74.

Intuitive Surgical Stock Down 0.5 %

Shares of ISRG traded down $2.81 during trading on Friday, reaching $534.99. 361,276 shares of the company traded hands, compared to its average volume of 1,456,390. The stock has a market cap of $190.55 billion, a PE ratio of 85.80, a price-to-earnings-growth ratio of 5.28 and a beta of 1.39. Intuitive Surgical, Inc. has a twelve month low of $295.02 and a twelve month high of $544.38. The stock has a 50-day simple moving average of $498.17 and a 200-day simple moving average of $456.22.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings results on Thursday, October 17th. The medical equipment provider reported $1.56 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $2.01 billion. On average, equities research analysts predict that Intuitive Surgical, Inc. will post 5.45 EPS for the current year.

Insider Transactions at Intuitive Surgical

In other news, SVP Henry L. Charlton sold 40,243 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $486.84, for a total value of $19,591,902.12. Following the completion of the sale, the senior vice president now directly owns 3,001 shares of the company’s stock, valued at approximately $1,461,006.84. The trade was a 93.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Amy L. Ladd sold 450 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $490.28, for a total transaction of $220,626.00. Following the transaction, the director now owns 821 shares in the company, valued at approximately $402,519.88. This trade represents a 35.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 91,178 shares of company stock valued at $45,897,071. Insiders own 0.90% of the company’s stock.

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.