KLP Kapitalforvaltning AS Takes Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

KLP Kapitalforvaltning AS bought a new stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 119,562 shares of the medical equipment provider's stock, valued at approximately $62,407,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Howard Capital Management Group LLC raised its position 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 acquiring an additional 9,194 shares in the last quarter. Quest Partners LLC bought a new position in Intuitive Surgical during the 3rd quarter valued at $173,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Intuitive Surgical during the 3rd quarter worth $11,356,000. Finally, Moran Wealth Management LLC increased its position in shares of Intuitive Surgical by 24.2% in the 3rd quarter. Moran Wealth Management LLC now owns 1,749 shares of the medical equipment provider's stock worth $859,000 after purchasing an additional 341 shares during the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

Intuitive Surgical Stock Down 2.1 %

Intuitive Surgical stock traded down $10.78 during trading hours on Wednesday, hitting $509.03. 1,979,293 shares of the company traded hands, compared to its average volume of 1,463,234. Intuitive Surgical, Inc. has a 1-year low of $364.17 and a 1-year high of $616.00. The firm has a market cap of $181.31 billion, a P/E ratio of 79.41, a P/E/G ratio of 5.85 and a beta of 1.43. The firm's 50-day simple moving average is $559.82 and its two-hundred day simple moving average is $532.42.

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Insider Activity

In other news, CFO Jamie Samath sold 94 shares of the firm's stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $571.11, for a total transaction of $53,684.34. Following the completion of the transaction, the chief financial officer now owns 2,630 shares in the company, valued at approximately $1,502,019.30. This trade represents a 3.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Myriam Curet sold 408 shares of Intuitive Surgical stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $589.75, for a total transaction of $240,618.00. Following the completion of the transaction, the executive vice president now owns 353 shares in the company, valued at approximately $208,181.75. This trade represents a 53.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,754 shares of company stock worth $17,691,621 over the last 90 days. 0.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Royal Bank of Canada boosted their price objective on Intuitive Surgical from $611.00 to $641.00 in a report on Monday, January 27th. CICC Research assumed coverage on Intuitive Surgical in a report on Monday, January 27th. They issued a "neutral" rating and a $550.00 price target for the company. Leerink Partners raised their price objective on Intuitive Surgical from $490.00 to $548.00 in a research note on Monday, January 27th. JPMorgan Chase & Co. boosted their target price on shares of Intuitive Surgical from $575.00 to $675.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Finally, Truist Financial lowered their price objective on shares of Intuitive Surgical from $666.00 to $605.00 and set a "buy" rating for the company in a research report on Monday, March 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $611.86.

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.