Advisors Capital Management LLC Grows Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Advisors Capital Management LLC grew its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 6.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,912 shares of the medical equipment provider’s stock after purchasing an additional 165 shares during the quarter. Advisors Capital Management LLC’s holdings in Intuitive Surgical were worth $1,520,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ISRG. Atala Financial Inc bought a new position in Intuitive Surgical in the 4th quarter worth about $25,000. Berbice Capital Management LLC bought a new position in Intuitive Surgical in the fourth quarter worth approximately $26,000. BankPlus Trust Department purchased a new position in Intuitive Surgical during the 4th quarter worth $28,000. Hurley Capital LLC bought a new stake in Intuitive Surgical during the 4th quarter valued at $28,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Intuitive Surgical in the 4th quarter worth $30,000. 83.64% of the stock is currently owned by institutional investors.

Intuitive Surgical Price Performance

Shares of ISRG opened at $490.13 on Tuesday. The company’s fifty day moving average price is $530.71 and its 200-day moving average price is $532.76. Intuitive Surgical, Inc. has a 1-year low of $364.17 and a 1-year high of $616.00. The firm has a market capitalization of $174.57 billion, a PE ratio of 76.46, a price-to-earnings-growth ratio of 5.85 and a beta of 1.55.

Analyst Ratings Changes

ISRG has been the topic of several research reports. Piper Sandler restated an “overweight” rating and set a $670.00 price target (up previously from $538.00) on shares of Intuitive Surgical in a research note on Friday, January 24th. Bernstein Bank upped their price target on shares of Intuitive Surgical from $655.00 to $700.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. Wells Fargo & Company lifted their price objective on shares of Intuitive Surgical from $630.00 to $687.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Barclays upped their target price on Intuitive Surgical from $610.00 to $674.00 in a report on Monday, January 27th. Finally, Citigroup lifted their price target on Intuitive Surgical from $640.00 to $711.00 and gave the company a “buy” rating in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Intuitive Surgical presently has a consensus rating of “Moderate Buy” and a consensus price target of $611.86.

Insider Activity

In related news, EVP Robert Desantis sold 11,545 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $499.22, for a total transaction of $5,763,494.90. Following the completion of the transaction, the executive vice president now owns 5,224 shares of the company’s stock, valued at $2,607,925.28. This trade represents a 68.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jamie Samath sold 94 shares of the company’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $571.11, for a total transaction of $53,684.34. Following the completion of the sale, the chief financial officer now directly owns 2,630 shares in the company, valued at approximately $1,502,019.30. The trade was a 3.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,754 shares of company stock valued at $17,691,621. Company insiders own 0.70% of the company’s stock.

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.