Biondo Investment Advisors LLC Lowers Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Biondo Investment Advisors LLC cut its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 3.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 126,215 shares of the medical equipment provider’s stock after selling 4,523 shares during the quarter. Intuitive Surgical accounts for about 9.1% of Biondo Investment Advisors LLC’s investment portfolio, making the stock its largest holding. Biondo Investment Advisors LLC’s holdings in Intuitive Surgical were worth $65,879,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in ISRG. Vanguard Group Inc. boosted its position in Intuitive Surgical by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 32,212,196 shares of the medical equipment provider’s stock worth $16,813,478,000 after purchasing an additional 360,591 shares during the last quarter. State Street Corp lifted its stake in shares of Intuitive Surgical by 1.4% in the 3rd quarter. State Street Corp now owns 15,050,121 shares of the medical equipment provider’s stock worth $7,393,673,000 after purchasing an additional 210,363 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Intuitive Surgical by 1.9% in the third quarter. Geode Capital Management LLC now owns 7,512,925 shares of the medical equipment provider’s stock worth $3,677,194,000 after buying an additional 143,440 shares during the last quarter. Fisher Asset Management LLC grew its position in Intuitive Surgical by 1.8% during the fourth quarter. Fisher Asset Management LLC now owns 4,868,869 shares of the medical equipment provider’s stock valued at $2,541,356,000 after buying an additional 86,488 shares during the period. Finally, Norges Bank purchased a new stake in Intuitive Surgical during the fourth quarter valued at approximately $2,401,493,000. 83.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Brian Edward Miller sold 8,900 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $485.07, for a total transaction of $4,317,123.00. Following the sale, the executive vice president now owns 5,758 shares in the company, valued at approximately $2,793,033.06. This represents a 60.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Amal M. Johnson sold 4,635 shares of Intuitive Surgical stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $566.60, for a total transaction of $2,626,191.00. Following the transaction, the director now directly owns 12,275 shares of the company’s stock, valued at $6,955,015. The trade was a 27.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,754 shares of company stock worth $17,691,621. 0.90% of the stock is currently owned by corporate insiders.

Intuitive Surgical Stock Down 3.2 %

ISRG stock opened at $491.84 on Friday. Intuitive Surgical, Inc. has a 52 week low of $364.17 and a 52 week high of $616.00. The firm has a market capitalization of $175.18 billion, a P/E ratio of 76.73, a price-to-earnings-growth ratio of 5.85 and a beta of 1.43. The company has a fifty day simple moving average of $556.28 and a two-hundred day simple moving average of $532.34.

Wall Street Analyst Weigh In

Several research firms have recently commented on ISRG. Jefferies Financial Group upped their price objective on Intuitive Surgical from $475.00 to $575.00 in a research note on Monday, January 27th. Stifel Nicolaus raised their price objective on Intuitive Surgical from $525.00 to $610.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Barclays boosted their price objective on Intuitive Surgical from $610.00 to $674.00 in a research note on Monday, January 27th. Piper Sandler reissued an “overweight” rating and issued a $670.00 target price (up from $538.00) on shares of Intuitive Surgical in a report on Friday, January 24th. Finally, Royal Bank of Canada lifted their price target on shares of Intuitive Surgical from $611.00 to $641.00 in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $611.86.

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.