The Lazard Asset Management LLC Buys 9,300 Shares of Intuitive Surgical Inc. (ISRG)

The Lazard Asset Management LLC Buys 9,300 Shares of Intuitive Surgical Inc. (ISRG)

Lazard Asset Management LLC raised its stake in shares of Intuitive Surgical Inc. (NASDAQ:ISRG) by 3.4% during the third quarter, Holdings Channel reports. The institutional investor owned 284,700 shares of the company’s stock after buying an additional 9,300 shares during the period. Lazard Asset Management LLC’s holdings in Intuitive Surgical were worth $206,359,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Intuitive Surgical by 0.5% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,198 shares of the company’s stock valued at $792,000 after buying an additional 6 shares in the last quarter. Bartlett & Co. LLC increased its stake in shares of Intuitive Surgical by 7.3% in the second quarter. Bartlett & Co. LLC now owns 220 shares of the company’s stock valued at $146,000 after buying an additional 15 shares in the last quarter. Calamos Wealth Management LLC acquired a new stake in shares of Intuitive Surgical during the second quarter valued at approximately $999,000. American Century Companies Inc. increased its stake in shares of Intuitive Surgical by 0.7% in the second quarter. American Century Companies Inc. now owns 415,307 shares of the company’s stock valued at $274,688,000 after buying an additional 2,854 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. increased its stake in shares of Intuitive Surgical by 34.9% in the second quarter. Candriam Luxembourg S.C.A. now owns 1,203 shares of the company’s stock valued at $796,000 after buying an additional 311 shares in the last quarter. Institutional investors and hedge funds own 90.62% of the company’s stock.

Intuitive Surgical Inc. (NASDAQ:ISRG) opened at 658.06 on Friday. The stock’s 50 day moving average price is $640.62 and its 200-day moving average price is $673.62. Intuitive Surgical Inc. has a 12 month low of $502.01 and a 12 month high of $727.25. The stock has a market cap of $25.50 billion, a price-to-earnings ratio of 35.49 and a beta of 0.52.

Intuitive Surgical (NASDAQ:ISRG) last released its earnings results on Tuesday, October 18th. The company reported $6.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $5.13 by $1.06. Intuitive Surgical had a net margin of 27.51% and a return on equity of 15.02%. The business had revenue of $682.90 million for the quarter, compared to analyst estimates of $650.49 million. During the same period last year, the company posted $5.24 EPS. The business’s revenue was up 15.8% on a year-over-year basis. Equities analysts expect that Intuitive Surgical Inc. will post $22.20 EPS for the current year.

Several analysts have commented on the company. RBC Capital Markets set a $760.00 target price on Intuitive Surgical and gave the company a “hold” rating in a research note on Wednesday, October 19th. Wedbush reissued an “outperform” rating and set a $755.00 price target (down from $785.00) on shares of Intuitive Surgical in a report on Wednesday, October 19th. Royal Bank Of Canada increased their price target on Intuitive Surgical from $750.00 to $760.00 and gave the company a “sector perform” rating in a report on Wednesday, October 19th. Canaccord Genuity increased their price target on Intuitive Surgical from $750.00 to $800.00 and gave the company a “buy” rating in a report on Wednesday, October 19th. Finally, Wells Fargo & Co. began coverage on Intuitive Surgical in a report on Thursday, October 13th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $731.97.

In other Intuitive Surgical news, CEO Gary S. Guthart sold 13,515 shares of the firm’s stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $680.68, for a total value of $9,199,390.20. Following the transaction, the chief executive officer now directly owns 82,880 shares of the company’s stock, valued at approximately $56,414,758.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David J. Rosa sold 7,200 shares of the firm’s stock in a transaction that occurred on Tuesday, December 13th. The stock was sold at an average price of $650.00, for a total transaction of $4,680,000.00. Following the completion of the transaction, the executive vice president now directly owns 2,187 shares in the company, valued at $1,421,550. The disclosure for this sale can be found here. Insiders sold a total of 21,990 shares of company stock worth $14,707,178 over the last three months. Corporate insiders own 3.10% of the company’s stock.

About Intuitive Surgical

Intuitive Surgical, Inc (Intuitive) designs, manufactures and markets da Vinci Surgical Systems, and related instruments and accessories. The Company’s da Vinci Surgical System consists of a surgeon’s console, a patient-side cart and a vision system. The da Vinci Surgical System translates a surgeon’s hand movements, which are performed on instrument controls at a console, into corresponding micro-movements of instruments positioned inside the patient through small incisions or ports.

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