Sterling Capital Management LLC Sells 2,127 Shares of Intuitive Surgical, Inc. $ISRG

Sterling Capital Management LLC decreased its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 11.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,799 shares of the medical equipment provider’s stock after selling 2,127 shares during the quarter. Sterling Capital Management LLC’s holdings in Intuitive Surgical were worth $7,283,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Holos Integrated Wealth LLC bought a new position in shares of Intuitive Surgical during the fourth quarter valued at $25,000. Newbridge Financial Services Group Inc. grew its holdings in shares of Intuitive Surgical by 300.0% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 33 shares during the last quarter. Olistico Wealth LLC acquired a new stake in shares of Intuitive Surgical during the 4th quarter worth about $28,000. Caitlin John LLC acquired a new stake in shares of Intuitive Surgical during the 3rd quarter worth about $30,000. Finally, Laurel Wealth Advisors LLC bought a new position in Intuitive Surgical during the 4th quarter valued at about $31,000. 83.64% of the stock is currently owned by institutional investors.

Insider Activity at Intuitive Surgical

In other news, SVP Iman Jeddi sold 5,625 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $420.55, for a total transaction of $2,365,593.75. Following the completion of the transaction, the senior vice president directly owned 6,463 shares in the company, valued at approximately $2,718,014.65. The trade was a 46.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 119 shares of the company’s stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $463.50, for a total value of $55,156.50. Following the completion of the sale, the director directly owned 120 shares of the company’s stock, valued at approximately $55,620. This trade represents a 49.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 7,169 shares of company stock worth $3,059,135. 0.60% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on ISRG shares. Piper Sandler restated an “overweight” rating and issued a $580.00 price target on shares of Intuitive Surgical in a research report on Tuesday, June 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Intuitive Surgical in a report on Tuesday, May 19th. TD Cowen cut their target price on shares of Intuitive Surgical from $660.00 to $585.00 and set a “buy” rating for the company in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. dropped their price target on Intuitive Surgical from $625.00 to $550.00 and set an “overweight” rating for the company in a report on Wednesday, April 22nd. Finally, Jefferies Financial Group cut their price objective on Intuitive Surgical from $560.00 to $515.00 and set a “hold” rating for the company in a research report on Wednesday, April 22nd. Nineteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $573.42.

Intuitive Surgical Stock Performance

ISRG opened at $404.70 on Friday. The company has a fifty day moving average price of $432.67 and a two-hundred day moving average price of $484.61. The firm has a market capitalization of $143.33 billion, a PE ratio of 49.05, a P/E/G ratio of 3.29 and a beta of 1.46. Intuitive Surgical, Inc. has a 52 week low of $396.68 and a 52 week high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.42. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the prior year, the business posted $1.81 EPS. The firm’s quarterly revenue was up 23.0% on a year-over-year basis. Equities analysts forecast that Intuitive Surgical, Inc. will post 8.57 EPS for the current year.

Intuitive Surgical Company Profile

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon’s hand movements into finer, scaled motions of small instruments inside the patient. Intuitive’s business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.