Legal & General Group Plc Cuts Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Legal & General Group Plc decreased its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 20.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,206,301 shares of the medical equipment provider’s stock after selling 562,455 shares during the period. Legal & General Group Plc’s holdings in Intuitive Surgical were worth $1,151,601,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Atala Financial Inc purchased a new position in shares of Intuitive Surgical during the 4th quarter valued at about $25,000. Berbice Capital Management LLC purchased a new stake in Intuitive Surgical in the fourth quarter worth approximately $26,000. BankPlus Trust Department purchased a new position in shares of Intuitive Surgical during the fourth quarter worth approximately $28,000. Hurley Capital LLC purchased a new position in Intuitive Surgical in the 4th quarter worth $28,000. Finally, Summit Securities Group LLC bought a new position in shares of Intuitive Surgical during the fourth quarter valued at about $30,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Stock Down 8.7 %

ISRG stock opened at $451.58 on Monday. The business has a 50 day moving average of $545.18 and a 200 day moving average of $533.00. Intuitive Surgical, Inc. has a twelve month low of $364.17 and a twelve month high of $616.00. The firm has a market cap of $160.84 billion, a PE ratio of 70.45, a price-to-earnings-growth ratio of 5.85 and a beta of 1.55.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ISRG. Wells Fargo & Company boosted their target price on Intuitive Surgical from $630.00 to $687.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Piper Sandler restated an “overweight” rating and issued a $670.00 target price (up previously from $538.00) on shares of Intuitive Surgical in a report on Friday, January 24th. Jefferies Financial Group increased their price target on shares of Intuitive Surgical from $475.00 to $575.00 in a research report on Monday, January 27th. Barclays boosted their price target on Intuitive Surgical from $610.00 to $674.00 in a report on Monday, January 27th. Finally, UBS Group increased their price objective on Intuitive Surgical from $500.00 to $560.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $611.86.

Insider Activity

In related news, CFO Jamie Samath sold 94 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $571.11, for a total transaction of $53,684.34. Following the transaction, the chief financial officer now owns 2,630 shares in the company, valued at $1,502,019.30. This represents a 3.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Amal M. Johnson sold 4,635 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $566.60, for a total value of $2,626,191.00. Following the completion of the transaction, the director now owns 12,275 shares in the company, valued at approximately $6,955,015. This trade represents a 27.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,754 shares of company stock worth $17,691,621 over the last three months. 0.70% of the stock is currently owned by corporate insiders.

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.