California Public Employees Retirement System Sells 38,366 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

California Public Employees Retirement System lessened its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 6.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 568,193 shares of the medical equipment provider's stock after selling 38,366 shares during the quarter. California Public Employees Retirement System owned about 0.16% of Intuitive Surgical worth $296,574,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Bennett Selby Investments LP boosted its position in Intuitive Surgical by 3.9% during the fourth quarter. Bennett Selby Investments LP now owns 449 shares of the medical equipment provider's stock worth $234,000 after purchasing an additional 17 shares during the period. Onefund LLC boosted its holdings in shares of Intuitive Surgical by 1.9% during the 4th quarter. Onefund LLC now owns 947 shares of the medical equipment provider's stock worth $494,000 after buying an additional 18 shares during the period. LVW Advisors LLC grew its stake in Intuitive Surgical by 1.3% in the 4th quarter. LVW Advisors LLC now owns 1,448 shares of the medical equipment provider's stock valued at $756,000 after buying an additional 19 shares during the last quarter. Wesbanco Bank Inc. raised its holdings in Intuitive Surgical by 1.6% in the 4th quarter. Wesbanco Bank Inc. now owns 1,216 shares of the medical equipment provider's stock worth $635,000 after acquiring an additional 19 shares during the period. Finally, FSM Wealth Advisors LLC raised its holdings in Intuitive Surgical by 3.7% in the 4th quarter. FSM Wealth Advisors LLC now owns 526 shares of the medical equipment provider's stock worth $275,000 after acquiring an additional 19 shares during the period. Institutional investors and hedge funds own 83.64% of the company's stock.

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Wall Street Analyst Weigh In

ISRG has been the subject of a number of research reports. Evercore ISI raised their price objective on Intuitive Surgical from $490.00 to $530.00 in a research report on Monday, January 27th. Truist Financial decreased their price objective on shares of Intuitive Surgical from $666.00 to $605.00 and set a "buy" rating on the stock in a research note on Monday, March 17th. Raymond James lifted their target price on shares of Intuitive Surgical from $560.00 to $688.00 and gave the company an "outperform" rating in a research note on Friday, January 24th. Leerink Partners increased their price target on Intuitive Surgical from $490.00 to $548.00 in a research report on Monday, January 27th. Finally, Citigroup lifted their price objective on Intuitive Surgical from $640.00 to $711.00 and gave the company a "buy" rating in a research report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $611.86.

Intuitive Surgical Price Performance

Shares of ISRG stock traded up $1.09 during trading hours on Tuesday, reaching $496.36. The company had a trading volume of 1,609,268 shares, compared to its average volume of 1,530,403. 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 $176.79 billion, a price-to-earnings ratio of 77.44, a P/E/G ratio of 5.85 and a beta of 1.43. The company has a 50 day moving average of $554.33 and a 200 day moving average of $532.98.

Insiders Place Their Bets

In related news, EVP Brian Edward Miller sold 8,900 shares of the business's 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 completion of the transaction, the executive vice president now owns 5,758 shares in the company, valued at approximately $2,793,033.06. The trade was a 60.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert Desantis sold 11,545 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $499.22, for a total transaction of $5,763,494.90. Following the completion of the sale, the executive vice president now owns 5,224 shares in the company, valued at approximately $2,607,925.28. This trade represents a 68.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,754 shares of company stock worth $17,691,621. 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.