State of Tennessee Department of Treasury Cuts Stock Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

State of Tennessee Department of Treasury cut its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 5.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 129,705 shares of the medical equipment provider’s stock after selling 7,054 shares during the period. State of Tennessee Department of Treasury’s holdings in Intuitive Surgical were worth $67,701,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ISRG. Howard Capital Management Group LLC lifted its stake in shares of Intuitive Surgical by 4.5% in the 3rd quarter. Howard Capital Management Group LLC now owns 2,125 shares of the medical equipment provider’s stock valued at $1,044,000 after purchasing an additional 92 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Intuitive Surgical by 1.5% in the third quarter. Principal Financial Group Inc. now owns 602,393 shares of the medical equipment provider’s stock valued at $295,938,000 after buying an additional 9,194 shares during the period. World Investment Advisors LLC acquired a new position in Intuitive Surgical during the third quarter valued at approximately $228,000. Arvest Bank Trust Division purchased a new stake in Intuitive Surgical during the third quarter worth approximately $260,000. Finally, Wilmington Savings Fund Society FSB increased its position in shares of Intuitive Surgical by 15,322.2% in the third quarter. Wilmington Savings Fund Society FSB now owns 555,661 shares of the medical equipment provider’s stock worth $272,980,000 after acquiring an additional 552,058 shares in the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ISRG. Raymond James upped their price target on shares of Intuitive Surgical from $560.00 to $688.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Wells Fargo & Company increased their target price on Intuitive Surgical from $630.00 to $687.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Piper Sandler reissued an “overweight” rating and set a $670.00 price target (up from $538.00) on shares of Intuitive Surgical in a research report on Friday, January 24th. JPMorgan Chase & Co. increased their price objective on shares of Intuitive Surgical from $575.00 to $675.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, Erste Group Bank cut shares of Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $611.81.

Intuitive Surgical Trading Up 0.3 %

Shares of NASDAQ ISRG opened at $482.74 on Monday. The company has a market capitalization of $171.94 billion, a price-to-earnings ratio of 75.31, a price-to-earnings-growth ratio of 5.85 and a beta of 1.55. Intuitive Surgical, Inc. has a twelve month low of $364.31 and a twelve month high of $616.00. The business has a 50 day simple moving average of $522.23 and a 200-day simple moving average of $532.71.

Insider Activity

In other Intuitive Surgical news, EVP Robert Desantis sold 11,545 shares of Intuitive Surgical stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 5,224 shares in the company, valued at $2,607,925.28. The trade was a 68.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Amal M. Johnson sold 4,635 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $566.60, for a total value of $2,626,191.00. Following the sale, the director now owns 12,275 shares in the company, valued at $6,955,015. The trade was a 27.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders 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.