Intuitive Surgical, Inc. (NASDAQ:ISRG) is Avidity Partners Management LP’s 7th Largest Position

Avidity Partners Management LP reduced its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 56.3% in the 4th quarter, Holdings Channel reports. The firm owned 64,800 shares of the medical equipment provider’s stock after selling 83,400 shares during the quarter. Intuitive Surgical accounts for about 3.3% of Avidity Partners Management LP’s portfolio, making the stock its 7th largest position. Avidity Partners Management LP’s holdings in Intuitive Surgical were worth $33,823,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Atala Financial Inc purchased a new stake in Intuitive Surgical during the 4th quarter valued at about $25,000. Berbice Capital Management LLC acquired a new position in shares of Intuitive Surgical during the 4th quarter worth approximately $26,000. Parvin Asset Management LLC acquired a new stake in shares of Intuitive Surgical in the fourth quarter valued at approximately $26,000. BankPlus Trust Department purchased a new position in Intuitive Surgical during the fourth quarter worth approximately $28,000. Finally, Hurley Capital LLC purchased a new position in Intuitive Surgical during the fourth quarter worth approximately $28,000. Institutional investors and hedge funds own 83.64% of the company’s stock.

Insider Activity

In other Intuitive Surgical news, CFO Jamie Samath sold 188 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $566.94, for a total value of $106,584.72. Following the sale, the chief financial officer now directly owns 7,162 shares in the company, valued at $4,060,424.28. This trade represents a 2.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert Desantis sold 11,545 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $499.22, for a total value of $5,763,494.90. Following the transaction, the executive vice president now directly owns 5,224 shares of the company’s stock, valued at approximately $2,607,925.28. This represents a 68.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,313 shares of company stock worth $17,229,143. 0.70% of the stock is currently owned by corporate insiders.

Intuitive Surgical Trading Up 2.4 %

NASDAQ:ISRG opened at $529.42 on Friday. The stock has a fifty day moving average price of $504.32 and a 200 day moving average price of $533.96. Intuitive Surgical, Inc. has a 12-month low of $379.67 and a 12-month high of $616.00. The firm has a market cap of $189.75 billion, a PE ratio of 82.59, a price-to-earnings-growth ratio of 5.85 and a beta of 1.55.

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on ISRG shares. Truist Financial reduced their price target on Intuitive Surgical from $605.00 to $590.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. JPMorgan Chase & Co. increased their price target on shares of Intuitive Surgical from $575.00 to $675.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. CICC Research started 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 on the stock. Bernstein Bank increased their price objective on Intuitive Surgical from $655.00 to $700.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. Finally, UBS Group lifted their target price on Intuitive Surgical from $500.00 to $560.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $598.95.

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.