Rench Wealth Management Inc. Purchases 650 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Rench Wealth Management Inc. raised its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 4.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,546 shares of the medical equipment provider’s stock after acquiring an additional 650 shares during the period. Intuitive Surgical comprises approximately 2.6% of Rench Wealth Management Inc.’s holdings, making the stock its 12th largest holding. Rench Wealth Management Inc.’s holdings in Intuitive Surgical were worth $7,592,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Intuitive Surgical in the 4th quarter worth approximately $2,401,493,000. Proficio Capital Partners LLC grew its holdings in shares of Intuitive Surgical by 89,098.8% in the 4th quarter. Proficio Capital Partners LLC now owns 949,967 shares of the medical equipment provider’s stock worth $495,845,000 after purchasing an additional 948,902 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Intuitive Surgical during the 4th quarter worth about $313,769,000. Wilmington Savings Fund Society FSB increased its position in shares of Intuitive Surgical by 15,322.2% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 555,661 shares of the medical equipment provider’s stock worth $272,980,000 after purchasing an additional 552,058 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Intuitive Surgical by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 32,212,196 shares of the medical equipment provider’s stock valued at $16,813,478,000 after purchasing an additional 360,591 shares during the last quarter. Institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Stock Down 0.7 %

ISRG stock opened at $490.13 on Tuesday. Intuitive Surgical, Inc. has a twelve month low of $364.17 and a twelve month high of $616.00. The company has a market cap of $174.57 billion, a P/E ratio of 76.46, a price-to-earnings-growth ratio of 5.85 and a beta of 1.55. The business’s fifty day moving average is $530.71 and its 200-day moving average is $532.76.

Insider Activity at Intuitive Surgical

In related news, CFO Jamie Samath sold 269 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $590.00, for a total transaction of $158,710.00. Following the completion of the transaction, the chief financial officer now owns 3,282 shares in the company, valued at approximately $1,936,380. The trade was a 7.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert Desantis sold 11,545 shares of the 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 owns 5,224 shares in the company, valued at approximately $2,607,925.28. This trade represents a 68.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,754 shares of company stock worth $17,691,621. 0.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ISRG. UBS Group upped their price objective on shares of Intuitive Surgical from $500.00 to $560.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Jefferies Financial Group raised their price target on Intuitive Surgical from $475.00 to $575.00 in a report on Monday, January 27th. Citigroup lifted their price objective on Intuitive Surgical from $640.00 to $711.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Evercore ISI increased their target price on Intuitive Surgical from $490.00 to $530.00 in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. lifted their price target on Intuitive Surgical from $575.00 to $675.00 and gave the company an “overweight” rating in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $611.86.

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.