Intuitive Surgical, Inc. (NASDAQ:ISRG) Stake Cut by Fred Alger Management LLC

Fred Alger Management LLC decreased its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 5.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 369,241 shares of the medical equipment provider’s stock after selling 23,002 shares during the period. Intuitive Surgical comprises about 0.9% of Fred Alger Management LLC’s portfolio, making the stock its 22nd largest holding. Fred Alger Management LLC’s holdings in Intuitive Surgical were worth $181,397,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ridgewood Investments LLC bought a new stake in shares of Intuitive Surgical during the 2nd quarter valued at about $26,000. Godsey & Gibb Inc. grew its holdings in shares of Intuitive Surgical by 140.0% during the third quarter. Godsey & Gibb Inc. now owns 60 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 35 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of Intuitive Surgical during the 1st quarter worth approximately $30,000. LGT Financial Advisors LLC lifted its holdings in shares of Intuitive Surgical by 415.4% in the 2nd quarter. LGT Financial Advisors LLC now owns 67 shares of the medical equipment provider’s stock worth $30,000 after purchasing an additional 54 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new position in Intuitive Surgical during the 3rd quarter valued at approximately $33,000. 83.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ISRG has been the topic of a number of recent research reports. Piper Sandler reiterated an “overweight” rating and issued a $538.00 target price (up from $495.00) on shares of Intuitive Surgical in a research note on Friday, October 18th. Redburn Atlantic upgraded shares of Intuitive Surgical from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $380.00 to $510.00 in a research report on Friday, August 2nd. Robert W. Baird upped their target price on shares of Intuitive Surgical from $503.00 to $565.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Oppenheimer reaffirmed a “market perform” rating on shares of Intuitive Surgical in a report on Friday, October 18th. Finally, BTIG Research increased their price objective on Intuitive Surgical from $535.00 to $561.00 and gave the stock a “buy” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $526.06.

Intuitive Surgical Stock Down 0.7 %

ISRG opened at $538.55 on Friday. The firm has a market capitalization of $191.82 billion, a P/E ratio of 86.58, a PEG ratio of 5.30 and a beta of 1.39. The stock has a fifty day moving average of $508.91 and a 200-day moving average of $467.29. Intuitive Surgical, Inc. has a 12-month low of $304.50 and a 12-month high of $552.00.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings data on Thursday, October 17th. The medical equipment provider reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.32. Intuitive Surgical had a return on equity of 13.41% and a net margin of 28.51%. The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.01 billion. On average, analysts expect that Intuitive Surgical, Inc. will post 5.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Gary Loeb sold 300 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $475.00, for a total transaction of $142,500.00. Following the completion of the sale, the general counsel now directly owns 1,595 shares in the company, valued at approximately $757,625. This trade represents a 15.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert Desantis sold 238 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $477.50, for a total value of $113,645.00. Following the completion of the transaction, the executive vice president now owns 5,506 shares in the company, valued at $2,629,115. This trade represents a 4.14 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,459 shares of company stock worth $26,080,251. 0.90% of the stock is owned by company 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.