Cinctive Capital Management LP Acquires 6,917 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Cinctive Capital Management LP lifted its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 30.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,276 shares of the medical equipment provider's stock after acquiring an additional 6,917 shares during the quarter. Intuitive Surgical comprises about 0.8% of Cinctive Capital Management LP's investment portfolio, making the stock its 23rd biggest holding. Cinctive Capital Management LP's holdings in Intuitive Surgical were worth $15,281,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Howard Capital Management Group LLC raised its holdings 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 worth $1,044,000 after purchasing an additional 92 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of 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 buying an additional 9,194 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Intuitive Surgical during the 3rd quarter valued at $380,000. Benjamin Edwards Inc. boosted its stake in shares of Intuitive Surgical by 148.7% during the 3rd quarter. Benjamin Edwards Inc. now owns 13,673 shares of the medical equipment provider's stock worth $6,718,000 after acquiring an additional 8,176 shares in the last quarter. Finally, Ascent Group LLC grew its holdings in shares of Intuitive Surgical by 76.0% in the 3rd quarter. Ascent Group LLC now owns 5,451 shares of the medical equipment provider's stock worth $2,678,000 after acquiring an additional 2,353 shares during the last quarter. Institutional investors own 83.64% of the company's stock.

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Insider Activity at Intuitive Surgical

In related news, Director Amal M. Johnson sold 4,635 shares of the business's stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $566.60, for a total value of $2,626,191.00. Following the completion of the sale, the director now directly owns 12,275 shares in the company, valued at approximately $6,955,015. The trade was a 27.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jamie Samath sold 94 shares of Intuitive Surgical stock in a transaction that occurred on 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 directly owns 2,630 shares in the company, valued at approximately $1,502,019.30. This represents a 3.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,754 shares of company stock valued at $17,691,621. 0.70% of the stock is currently owned by corporate insiders.

Intuitive Surgical Stock Down 8.7 %

Shares of ISRG traded down $43.03 during midday trading on Friday, reaching $451.58. 4,106,917 shares of the stock were exchanged, compared to its average volume of 1,542,647. The company has a market cap of $160.84 billion, a price-to-earnings ratio of 70.45, a P/E/G ratio of 5.85 and a beta of 1.55. The firm has a 50 day simple moving average of $545.18 and a 200-day simple moving average of $532.30. Intuitive Surgical, Inc. has a 12-month low of $364.17 and a 12-month high of $616.00.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Barclays upped their target price on Intuitive Surgical from $610.00 to $674.00 in a report on Monday, January 27th. Jefferies Financial Group upped their price objective on shares of Intuitive Surgical from $475.00 to $575.00 in a research note on Monday, January 27th. JPMorgan Chase & Co. lifted their target price on shares of Intuitive Surgical from $575.00 to $675.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Evercore ISI upped their price target on shares of Intuitive Surgical from $490.00 to $530.00 in a research report on Monday, January 27th. Finally, Bernstein Bank raised their price objective on shares of Intuitive Surgical from $655.00 to $700.00 and gave the stock an "overweight" rating in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $611.86.

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.