Fmr LLC Decreases Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

FMR LLC lessened its position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 1.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 10,822,224 shares of the medical equipment provider's stock after selling 148,861 shares during the period. FMR LLC owned approximately 3.04% of Intuitive Surgical worth $5,648,768,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Alcosta Capital Management Inc. acquired a new stake in shares of Intuitive Surgical in the 4th quarter valued at approximately $4,891,000. Waterloo Capital L.P. raised its position in Intuitive Surgical by 11.6% in the fourth quarter. Waterloo Capital L.P. now owns 4,865 shares of the medical equipment provider's stock worth $2,539,000 after acquiring an additional 506 shares in the last quarter. Peapack Gladstone Financial Corp lifted its holdings in Intuitive Surgical by 3.0% in the fourth quarter. Peapack Gladstone Financial Corp now owns 13,476 shares of the medical equipment provider's stock valued at $7,034,000 after acquiring an additional 391 shares during the period. Quadrant Capital Group LLC boosted its position in shares of Intuitive Surgical by 4.4% during the 4th quarter. Quadrant Capital Group LLC now owns 5,831 shares of the medical equipment provider's stock worth $3,044,000 after purchasing an additional 245 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of Intuitive Surgical by 1.8% during the 4th quarter. Russell Investments Group Ltd. now owns 355,440 shares of the medical equipment provider's stock worth $185,622,000 after purchasing an additional 6,431 shares during the period. Hedge funds and other institutional investors own 83.64% of the company's stock.

Intuitive Surgical Stock Performance

NASDAQ ISRG traded up $1.02 during mid-day trading on Friday, reaching $490.54. 1,320,126 shares of the stock were exchanged, compared to its average volume of 1,592,395. The business's fifty day simple moving average is $534.44 and its 200 day simple moving average is $532.30. The stock has a market capitalization of $174.72 billion, a PE ratio of 76.00, a PEG ratio of 5.85 and a beta of 1.55. Intuitive Surgical, Inc. has a 1-year low of $364.17 and a 1-year high of $616.00.

Insider Activity at Intuitive Surgical

In related news, EVP Robert Desantis sold 11,545 shares of Intuitive Surgical stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $499.22, for a total value of $5,763,494.90. Following the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Brian Edward Miller sold 8,900 shares of the company's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $485.07, for a total value of $4,317,123.00. Following the sale, the executive vice president now owns 5,758 shares of the company's stock, valued at $2,793,033.06. This represents a 60.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,754 shares of company stock worth $17,691,621. 0.70% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently commented on ISRG. CICC Research initiated coverage on shares of Intuitive Surgical in a research note on Monday, January 27th. They issued a "neutral" rating and a $550.00 price objective for the company. Robert W. Baird decreased their price target on Intuitive Surgical from $707.00 to $600.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 18th. Piper Sandler reaffirmed an "overweight" rating and issued a $670.00 price objective (up from $538.00) on shares of Intuitive Surgical in a research note on Friday, January 24th. JPMorgan Chase & Co. boosted their target price on Intuitive Surgical from $575.00 to $675.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Finally, Wells Fargo & Company raised their price target on Intuitive Surgical from $630.00 to $687.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat, Intuitive Surgical has a consensus rating of "Moderate Buy" and a consensus target price of $611.86.

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.