Jennison Associates LLC Cuts Stock Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Jennison Associates LLC trimmed its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 7.7% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,594,031 shares of the medical equipment provider’s stock after selling 217,284 shares during the quarter. Intuitive Surgical makes up approximately 0.9% of Jennison Associates LLC’s investment portfolio, making the stock its 28th largest position. Jennison Associates LLC owned about 0.72% of Intuitive Surgical worth $1,284,746,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ISRG. Chilton Capital Management LLC increased its stake in Intuitive Surgical by 614.3% during the first quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 43 shares during the period. Parvin Asset Management LLC purchased a new position in shares of Intuitive Surgical in the 4th quarter valued at about $26,000. Global Financial Private Client LLC increased its holdings in shares of 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 acquiring an additional 38 shares during the last quarter. Elite Financial Inc. purchased a new position in Intuitive Surgical during the 1st quarter worth approximately $26,000. Finally, Hurley Capital LLC purchased a new position in Intuitive Surgical during the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 83.64% of the company’s stock.

Intuitive Surgical Stock Up 0.1%

Shares of Intuitive Surgical stock opened at $516.91 on Friday. The firm has a market cap of $185.27 billion, a P/E ratio of 75.82, a P/E/G ratio of 5.44 and a beta of 1.64. Intuitive Surgical, Inc. has a fifty-two week low of $413.82 and a fifty-two week high of $616.00. The business has a 50-day moving average price of $536.26 and a 200 day moving average price of $536.13.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings data on Tuesday, April 22nd. The medical equipment provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.10. The firm 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 14.43% and a net margin of 28.41%. During the same period in the previous year, the company earned $1.50 earnings per share. As a group, equities research analysts anticipate that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on ISRG. Deutsche Bank Aktiengesellschaft downgraded Intuitive Surgical from a “hold” rating to a “sell” rating and dropped their price target for the stock from $515.00 to $440.00 in a research note on Monday, June 9th. BTIG Research set a $566.00 price objective on Intuitive Surgical and gave the stock a “buy” rating in a research report on Monday. Erste Group Bank raised Intuitive Surgical from a “hold” rating to a “buy” rating in a report on Thursday, June 5th. 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 report on Wednesday, April 23rd. Finally, Evercore ISI lifted their price objective on Intuitive Surgical from $470.00 to $550.00 and gave the stock an “in-line” rating in a report on Tuesday, July 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $592.86.

Insider Buying and Selling

In related news, SVP Mark Brosius sold 216 shares of the company’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $563.11, for a total transaction of $121,631.76. Following the completion of the transaction, the senior vice president directly owned 907 shares in the company, valued at $510,740.77. This represents a 19.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gary Loeb sold 1,700 shares of the stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $513.18, for a total value of $872,406.00. Following the completion of the transaction, the executive vice president directly owned 2,245 shares of the company’s stock, valued at $1,152,089.10. This trade represents a 43.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,998 shares of company stock valued at $2,611,577 in the last 90 days. Corporate insiders own 0.70% of the company’s stock.

About Intuitive Surgical

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.