BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 8,708 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 12.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 59,183 shares of the medical equipment provider’s stock after selling 8,708 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Intuitive Surgical were worth $29,075,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in ISRG. Caisse DE Depot ET Placement DU Quebec increased its position in Intuitive Surgical by 15.5% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 229,306 shares of the medical equipment provider’s stock valued at $112,651,000 after acquiring an additional 30,724 shares during the last quarter. Hantz Financial Services Inc. raised its position in Intuitive Surgical by 4.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 14,143 shares of the medical equipment provider’s stock worth $6,948,000 after purchasing an additional 663 shares during the period. Northwest & Ethical Investments L.P. lifted its stake in Intuitive Surgical by 50.6% in the third quarter. Northwest & Ethical Investments L.P. now owns 15,741 shares of the medical equipment provider’s stock worth $7,733,000 after purchasing an additional 5,288 shares during the last quarter. Castle Hook Partners LP purchased a new stake in shares of Intuitive Surgical in the third quarter worth approximately $53,126,000. Finally, Public Sector Pension Investment Board lifted its stake in shares of Intuitive Surgical by 8.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 172,373 shares of the medical equipment provider’s stock worth $84,682,000 after acquiring an additional 13,150 shares during the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Intuitive Surgical

In related news, CFO Jamie Samath sold 108 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $542.06, for a total value of $58,542.48. Following the completion of the sale, the chief financial officer now owns 8,757 shares of the company’s stock, valued at approximately $4,746,819.42. The trade was a 1.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Amy L. Ladd sold 450 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $490.28, for a total transaction of $220,626.00. Following the transaction, the director now directly owns 821 shares in the company, valued at approximately $402,519.88. The trade was a 35.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,459 shares of company stock valued at $26,080,251 in the last ninety days. 0.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ISRG. Piper Sandler reissued an “overweight” rating and set a $538.00 target price (up from $495.00) on shares of Intuitive Surgical in a research note on Friday, October 18th. Evercore ISI reaffirmed a “cautious” rating on shares of Intuitive Surgical in a research report on Friday, October 18th. BTIG Research upped their target price on Intuitive Surgical from $535.00 to $561.00 and gave the stock a “buy” rating in a report on Tuesday. Erste Group Bank upgraded shares of Intuitive Surgical from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, Wells Fargo & Company upped their price target on shares of Intuitive Surgical from $466.00 to $549.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Intuitive Surgical presently has an average rating of “Moderate Buy” and a consensus target price of $526.06.

Intuitive Surgical Trading Up 0.6 %

Shares of NASDAQ:ISRG opened at $542.00 on Friday. Intuitive Surgical, Inc. has a 12-month low of $304.50 and a 12-month high of $552.00. The business has a 50 day moving average of $510.03 and a two-hundred day moving average of $468.41. The company has a market capitalization of $193.05 billion, a PE ratio of 87.14, a PEG ratio of 5.30 and a beta of 1.39.

Intuitive Surgical (NASDAQ:ISRG) last posted its earnings results on Thursday, October 17th. The medical equipment provider reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.32. The firm had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Intuitive Surgical had a net margin of 28.51% and a return on equity of 13.41%. Equities research analysts predict that Intuitive Surgical, Inc. will post 5.45 earnings per share for the current fiscal year.

About Intuitive Surgical

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.