Lazard Asset Management LLC Reduces Stock Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Lazard Asset Management LLC reduced its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 0.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 687,831 shares of the medical equipment provider’s stock after selling 792 shares during the period. Lazard Asset Management LLC’s holdings in Intuitive Surgical were worth $359,019,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Integral Health Asset Management LLC acquired a new position in Intuitive Surgical in the 4th quarter worth approximately $20,878,000. Investment Management Corp of Ontario increased its stake in Intuitive Surgical by 48.6% during the 4th quarter. Investment Management Corp of Ontario now owns 21,537 shares of the medical equipment provider’s stock worth $11,241,000 after buying an additional 7,043 shares in the last quarter. Iron Triangle Partners LP raised its position in shares of Intuitive Surgical by 4.2% in the fourth quarter. Iron Triangle Partners LP now owns 75,000 shares of the medical equipment provider’s stock valued at $39,147,000 after buying an additional 2,999 shares during the last quarter. Kaizen Financial Strategies purchased a new position in Intuitive Surgical in the 4th quarter worth approximately $209,000. Finally, Hyperion Asset Management Ltd grew its holdings in Intuitive Surgical by 55.6% in the 4th quarter. Hyperion Asset Management Ltd now owns 172,514 shares of the medical equipment provider’s stock valued at $90,045,000 after buying an additional 61,669 shares in the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ISRG. Truist Financial dropped their target price on shares of Intuitive Surgical from $605.00 to $590.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Leerink Partners raised their price objective on shares of Intuitive Surgical from $490.00 to $548.00 in a report on Monday, January 27th. Royal Bank of Canada decreased their price target on Intuitive Surgical from $630.00 to $605.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Barclays dropped their price target on shares of Intuitive Surgical from $684.00 to $635.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Finally, Piper Sandler reduced their price objective on Intuitive Surgical from $670.00 to $575.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $598.95.

Intuitive Surgical Stock Down 0.3%

ISRG stock opened at $536.55 on Monday. The business’s 50-day moving average price is $500.93 and its 200-day moving average price is $535.03. The stock has a market cap of $192.31 billion, a P/E ratio of 83.71, a PEG ratio of 5.85 and a beta of 1.70. Intuitive Surgical, Inc. has a twelve month low of $379.67 and a twelve month high of $616.00.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings data on Tuesday, April 22nd. The medical equipment provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.71 by $0.10. Intuitive Surgical had a net margin of 27.81% and a return on equity of 14.55%. The company had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same period in the previous year, the firm earned $1.50 earnings per share. On average, equities research analysts expect that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Jamie Samath sold 188 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $566.94, for a total value of $106,584.72. Following the transaction, the chief financial officer now owns 7,162 shares in the company, valued at $4,060,424.28. This trade represents a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Brian Edward Miller sold 8,900 shares of Intuitive Surgical stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $485.07, for a total transaction of $4,317,123.00. Following the sale, the executive vice president now directly owns 5,758 shares in the company, valued at approximately $2,793,033.06. The trade was a 60.72% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,044 shares of company stock valued at $17,070,433. 0.70% of the stock is currently owned by corporate insiders.

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.