Assenagon Asset Management S.A. Has $626.50 Million Stock Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Assenagon Asset Management S.A. decreased its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 19.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 1,264,956 shares of the medical equipment provider’s stock after selling 306,317 shares during the period. Intuitive Surgical makes up 1.0% of Assenagon Asset Management S.A.’s holdings, making the stock its 12th largest position. Assenagon Asset Management S.A. owned 0.36% of Intuitive Surgical worth $626,495,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ISRG. Atala Financial Inc bought a new position in shares of Intuitive Surgical during the 4th quarter worth approximately $25,000. Parvin Asset Management LLC bought a new position in Intuitive Surgical during the fourth quarter worth $26,000. Global Financial Private Client LLC grew its stake in Intuitive Surgical by 253.3% in the 1st quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider’s stock valued at $26,000 after buying an additional 38 shares during the last quarter. BankPlus Trust Department acquired a new stake in Intuitive Surgical during the 4th quarter worth approximately $28,000. Finally, Hurley Capital LLC bought a new stake in shares of Intuitive Surgical in the fourth quarter valued at about $28,000. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Intuitive Surgical Trading Up 0.7%

NASDAQ:ISRG opened at $529.60 on Wednesday. Intuitive Surgical, Inc. has a 12 month low of $413.82 and a 12 month high of $616.00. The firm has a market cap of $189.82 billion, a P/E ratio of 82.62, a price-to-earnings-growth ratio of 5.85 and a beta of 1.67. The stock has a 50 day moving average of $523.08 and a two-hundred day moving average of $538.95.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings results on Tuesday, April 22nd. The medical equipment provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.10. The business had revenue of $2.25 billion during the quarter, compared to analyst estimates 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 prior year, the business earned $1.50 earnings per share. On average, research analysts forecast that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ISRG shares. Citigroup reiterated a “buy” rating and set a $650.00 price objective (up from $590.00) on shares of Intuitive Surgical in a research report on Thursday, May 22nd. Evercore ISI cut their price target on shares of Intuitive Surgical from $510.00 to $470.00 and set an “in-line” rating on the stock in a report on Wednesday, April 23rd. Barclays lowered their target price 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. Robert W. Baird cut their price objective on shares of Intuitive Surgical from $600.00 to $575.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Finally, Piper Sandler reduced their price objective on Intuitive Surgical from $670.00 to $575.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $588.95.

Insider Activity at Intuitive Surgical

In other Intuitive Surgical news, EVP Gary Loeb sold 1,700 shares of the company’s stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $513.18, for a total transaction of $872,406.00. Following the completion of the sale, the executive vice president now directly owns 2,245 shares of the company’s stock, valued at $1,152,089.10. This represents a 43.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert Desantis sold 188 shares of Intuitive Surgical stock in a transaction on Monday, April 28th. The shares were sold at an average price of $515.91, for a total transaction of $96,991.08. Following the completion of the transaction, the executive vice president now owns 5,224 shares in the company, valued at approximately $2,695,113.84. This trade represents a 3.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,543 shares of company stock worth $8,375,072. Company insiders own 0.70% of the company’s stock.

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.