Intuitive Surgical, Inc. (NASDAQ:ISRG) Shares Sold by Pinebridge Investments L.P.

Pinebridge Investments L.P. trimmed its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 25.3% in the fourth quarter, Holdings Channel reports. The firm owned 28,394 shares of the medical equipment provider’s stock after selling 9,606 shares during the period. Pinebridge Investments L.P.’s holdings in Intuitive Surgical were worth $14,821,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on ISRG shares. Wells Fargo & Company raised their price objective on Intuitive Surgical from $630.00 to $687.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. CICC Research began coverage on shares of Intuitive Surgical in a research report on Monday, January 27th. They set a “neutral” rating and a $550.00 price target for the company. Piper Sandler reduced their price objective on shares of Intuitive Surgical from $670.00 to $575.00 and set an “overweight” rating on the stock in a research note on Wednesday. Royal Bank of Canada dropped their target price on shares of Intuitive Surgical from $630.00 to $605.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Leerink Partners lifted their price target on Intuitive Surgical from $490.00 to $548.00 in a research note on Monday, January 27th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $600.81.

Insider Activity at Intuitive Surgical

In other news, EVP Robert Desantis sold 11,545 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $499.22, for a total transaction of $5,763,494.90. Following the completion of the sale, the executive vice president now directly owns 5,224 shares of the company’s stock, valued at $2,607,925.28. This represents a 68.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Fredrik Widman sold 810 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $573.78, for a total transaction of $464,761.80. Following the completion of the transaction, the vice president now owns 473 shares of the company’s stock, valued at approximately $271,397.94. The trade was a 63.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,754 shares of company stock worth $17,691,621 over the last quarter. 0.70% of the stock is currently owned by company insiders.

Intuitive Surgical Stock Performance

Shares of ISRG stock opened at $487.93 on Thursday. Intuitive Surgical, Inc. has a 1 year low of $367.39 and a 1 year high of $616.00. The firm has a market capitalization of $173.79 billion, a PE ratio of 76.12, a price-to-earnings-growth ratio of 5.85 and a beta of 1.55. The stock has a fifty day moving average of $515.40 and a two-hundred day moving average of $531.93.

Intuitive Surgical (NASDAQ:ISRG) last announced its earnings results on Tuesday, April 22nd. The medical equipment provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.10. Intuitive Surgical had a net margin of 27.81% and a return on equity of 14.55%. The firm had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the prior year, the firm posted $1.50 EPS. Equities research analysts predict that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

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.