Clearbridge Investments LLC Sells 410,477 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Clearbridge Investments LLC lessened its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 21.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,543,919 shares of the medical equipment provider's stock after selling 410,477 shares during the period. Clearbridge Investments LLC owned about 0.43% of Intuitive Surgical worth $805,864,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ISRG. Vanguard Group Inc. increased its holdings in Intuitive Surgical by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 32,212,196 shares of the medical equipment provider's stock worth $16,813,478,000 after acquiring an additional 360,591 shares during the last quarter. State Street Corp boosted its position in Intuitive Surgical by 1.4% during the third quarter. State Street Corp now owns 15,050,121 shares of the medical equipment provider's stock worth $7,393,673,000 after purchasing an additional 210,363 shares during the period. Geode Capital Management LLC increased its stake in shares of Intuitive Surgical by 1.9% in the third quarter. Geode Capital Management LLC now owns 7,512,925 shares of the medical equipment provider's stock worth $3,677,194,000 after purchasing an additional 143,440 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Intuitive Surgical by 1.8% in the fourth quarter. Fisher Asset Management LLC now owns 4,868,869 shares of the medical equipment provider's stock valued at $2,541,356,000 after purchasing an additional 86,488 shares during the period. Finally, Norges Bank purchased a new stake in shares of Intuitive Surgical during the 4th quarter valued at approximately $2,401,493,000. Institutional investors own 83.64% of the company's stock.

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Insider Transactions at Intuitive Surgical

In other news, Director Amal M. Johnson sold 4,635 shares of the firm's stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $566.60, for a total value of $2,626,191.00. Following the transaction, the director now owns 12,275 shares in the company, valued at approximately $6,955,015. This trade represents a 27.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Fredrik Widman sold 810 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $573.78, for a total transaction of $464,761.80. Following the sale, the vice president now owns 473 shares of the company's stock, valued at $271,397.94. This represents a 63.13 % 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. Company insiders own 0.70% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ISRG shares. Erste Group Bank cut shares of Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a report on Monday, March 17th. Robert W. Baird decreased their price objective 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. Raymond James raised their target price on Intuitive Surgical from $560.00 to $688.00 and gave the stock an "outperform" rating in a research note on Friday, January 24th. Stifel Nicolaus upped their price target on Intuitive Surgical from $525.00 to $610.00 and gave the company a "buy" rating in a research report on Thursday, December 5th. Finally, CICC Research began coverage on shares of Intuitive Surgical in a research report on Monday, January 27th. They issued a "neutral" rating and a $550.00 price objective for the company. One investment 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. According to MarketBeat.com, Intuitive Surgical presently has an average rating of "Moderate Buy" and an average target price of $611.86.

Intuitive Surgical Stock Performance

ISRG traded up $1.09 during midday trading on Tuesday, hitting $496.36. The stock had a trading volume of 1,609,268 shares, compared to its average volume of 1,531,879. Intuitive Surgical, Inc. has a 1 year low of $364.17 and a 1 year high of $616.00. The business has a fifty day moving average of $554.33 and a 200 day moving average of $532.98. The company has a market cap of $176.79 billion, a P/E ratio of 77.44, a price-to-earnings-growth ratio of 5.85 and a beta of 1.43.

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.