Oak Asset Management LLC Sells 350 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Oak Asset Management LLC lowered its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 4.4% during the first quarter, HoldingsChannel reports. The institutional investor owned 7,560 shares of the medical equipment provider’s stock after selling 350 shares during the quarter. Intuitive Surgical accounts for about 1.4% of Oak Asset Management LLC’s investment portfolio, making the stock its 20th largest holding. Oak Asset Management LLC’s holdings in Intuitive Surgical were worth $3,744,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in ISRG. Atala Financial Inc acquired a new stake in shares of Intuitive Surgical during the 4th quarter worth $25,000. Parvin Asset Management LLC bought a new stake in Intuitive Surgical during the fourth quarter worth about $26,000. Global Financial Private Client LLC lifted its position in Intuitive Surgical by 253.3% during the first quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 38 shares during the period. BankPlus Trust Department acquired a new stake in Intuitive Surgical during the fourth quarter worth about $28,000. Finally, Hurley Capital LLC bought a new position in Intuitive Surgical in the 4th quarter valued at about $28,000. Institutional investors own 83.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ISRG shares. Royal Bank of Canada cut their price target on shares of Intuitive Surgical from $630.00 to $605.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Truist Financial cut their target price on Intuitive Surgical from $605.00 to $590.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Evercore ISI decreased their price target on Intuitive Surgical from $510.00 to $470.00 and set an “in-line” rating on the stock in a research note on Wednesday, April 23rd. BTIG Research set a $560.00 price target on Intuitive Surgical and gave the stock a “buy” rating in a report on Monday, April 14th. Finally, Barclays reduced their price objective on Intuitive Surgical from $684.00 to $635.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Intuitive Surgical currently has a consensus rating of “Moderate Buy” and an average price target of $596.05.

Insider Buying and Selling

In other news, SVP Mark Brosius sold 215 shares of the firm’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $549.06, for a total transaction of $118,047.90. Following the completion of the transaction, the senior vice president now directly owns 1,768 shares in the company, valued at $970,738.08. This trade represents a 10.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert Desantis sold 188 shares of the company’s stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $515.91, for a total value of $96,991.08. Following the completion of the sale, the executive vice president now owns 5,224 shares in the company, valued at $2,695,113.84. The trade was a 3.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,716 shares of company stock valued at $12,831,288 over the last 90 days. 0.70% of the stock is owned by insiders.

Intuitive Surgical Price Performance

Intuitive Surgical stock opened at $557.95 on Thursday. The business has a 50 day moving average of $519.52 and a 200-day moving average of $538.95. The company has a market capitalization of $199.98 billion, a P/E ratio of 87.04, a P/E/G ratio of 5.85 and a beta of 1.67. Intuitive Surgical, Inc. has a 1 year low of $405.08 and a 1 year high of $616.00.

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

Intuitive Surgical Company 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.