Intuitive Surgical, Inc. $ISRG Shares Sold by Cercano Management LLC

Cercano Management LLC lowered its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 65.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,235 shares of the medical equipment provider’s stock after selling 17,599 shares during the quarter. Cercano Management LLC’s holdings in Intuitive Surgical were worth $4,130,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. SteelPeak Wealth LLC lifted its holdings in Intuitive Surgical by 28.7% during the third quarter. SteelPeak Wealth LLC now owns 41,993 shares of the medical equipment provider’s stock valued at $18,781,000 after purchasing an additional 9,364 shares in the last quarter. Amalgamated Bank raised its position in shares of Intuitive Surgical by 2.2% during the 2nd quarter. Amalgamated Bank now owns 81,542 shares of the medical equipment provider’s stock worth $44,311,000 after purchasing an additional 1,772 shares during the last quarter. Atlantic Union Bankshares Corp lifted its stake in Intuitive Surgical by 19.3% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 22,759 shares of the medical equipment provider’s stock valued at $10,179,000 after buying an additional 3,676 shares in the last quarter. Bessemer Group Inc. boosted its holdings in Intuitive Surgical by 89.3% in the 2nd quarter. Bessemer Group Inc. now owns 788,328 shares of the medical equipment provider’s stock worth $428,386,000 after buying an additional 371,806 shares during the last quarter. Finally, World Investment Advisors increased its stake in Intuitive Surgical by 238.3% during the 3rd quarter. World Investment Advisors now owns 5,399 shares of the medical equipment provider’s stock worth $2,415,000 after buying an additional 3,803 shares in the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ISRG has been the subject of several recent research reports. Barclays set a $712.00 price objective on Intuitive Surgical and gave the company an “overweight” rating in a research note on Monday, January 26th. Evercore decreased their price target on shares of Intuitive Surgical from $580.00 to $550.00 and set an “in-line” rating on the stock in a research note on Friday, January 23rd. Robert W. Baird lowered their price target on shares of Intuitive Surgical from $655.00 to $645.00 and set an “outperform” rating on the stock in a research report on Friday, January 23rd. Leerink Partners increased their price objective on shares of Intuitive Surgical from $593.00 to $600.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Finally, Mizuho set a $575.00 target price on Intuitive Surgical in a report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Intuitive Surgical currently has an average rating of “Moderate Buy” and an average target price of $617.23.

Intuitive Surgical Trading Up 1.5%

ISRG opened at $493.35 on Wednesday. The stock’s 50-day moving average price is $538.70 and its 200 day moving average price is $510.51. Intuitive Surgical, Inc. has a 12-month low of $425.00 and a 12-month high of $609.08. The firm has a market cap of $175.20 billion, a price-to-earnings ratio of 62.53, a PEG ratio of 3.76 and a beta of 1.65.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings results on Thursday, January 22nd. The medical equipment provider reported $2.53 EPS for the quarter, beating the consensus estimate of $2.27 by $0.26. Intuitive Surgical had a net margin of 28.38% and a return on equity of 15.06%. The company had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.72 billion. During the same quarter last year, the company posted $2.21 EPS. The firm’s revenue was up 18.8% compared to the same quarter last year. On average, research analysts forecast that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Insiders Place Their Bets

In other Intuitive Surgical news, EVP Myriam Curet sold 421 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $494.96, for a total transaction of $208,378.16. Following the sale, the executive vice president owned 409 shares of the company’s stock, valued at approximately $202,438.64. This trade represents a 50.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gary S. Guthart sold 2,800 shares of the business’s stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $531.52, for a total transaction of $1,488,256.00. Following the completion of the sale, the director directly owned 15,720 shares of the company’s stock, valued at approximately $8,355,494.40. This trade represents a 15.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 56,189 shares of company stock valued at $30,785,441 over the last quarter. Corporate insiders own 0.70% of the company’s stock.

About Intuitive Surgical

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon’s hand movements into finer, scaled motions of small instruments inside the patient. Intuitive’s business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.