Jennison Associates LLC Cuts Stock Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Jennison Associates LLC decreased its position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 19.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 3,379,085 shares of the medical equipment provider's stock after selling 791,335 shares during the period. Intuitive Surgical comprises approximately 1.0% of Jennison Associates LLC's portfolio, making the stock its 22nd biggest holding. Jennison Associates LLC owned 0.95% of Intuitive Surgical worth $1,660,043,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of ISRG. Strategy Asset Managers LLC grew its position in Intuitive Surgical by 60.9% during the third quarter. Strategy Asset Managers LLC now owns 3,254 shares of the medical equipment provider's stock valued at $1,599,000 after acquiring an additional 1,231 shares during the period. Prospera Private Wealth LLC raised its position in Intuitive Surgical by 1,587.2% in the third quarter. Prospera Private Wealth LLC now owns 12,519 shares of the medical equipment provider's stock valued at $6,150,000 after purchasing an additional 11,777 shares during the period. West Family Investments Inc. raised its stake in shares of Intuitive Surgical by 32.4% during the third quarter. West Family Investments Inc. now owns 968 shares of the medical equipment provider's stock valued at $476,000 after purchasing an additional 237 shares during the period. Parnassus Investments LLC boosted its position in Intuitive Surgical by 36.8% in the 3rd quarter. Parnassus Investments LLC now owns 2,133 shares of the medical equipment provider's stock valued at $1,048,000 after buying an additional 574 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Intuitive Surgical in the 3rd quarter valued at approximately $9,977,000. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Intuitive Surgical Stock Up 0.2 %

Shares of ISRG stock traded up $1.14 during trading on Wednesday, reaching $539.96. 563,096 shares of the company's stock were exchanged, compared to its average volume of 1,454,937. The firm's fifty day moving average price is $501.42 and its 200-day moving average price is $460.69. Intuitive Surgical, Inc. has a twelve month low of $304.50 and a twelve month high of $544.38. The stock has a market capitalization of $192.32 billion, a PE ratio of 86.63, a PEG ratio of 5.19 and a beta of 1.39.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its earnings results on Thursday, October 17th. The medical equipment provider reported $1.56 earnings per share for the quarter, topping analysts' consensus estimates of $1.24 by $0.32. Intuitive Surgical had a return on equity of 13.41% and a net margin of 28.51%. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.01 billion. As a group, analysts anticipate that Intuitive Surgical, Inc. will post 5.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Leerink Partners raised their price objective on Intuitive Surgical from $489.00 to $502.00 in a research note on Thursday, October 17th. Raymond James increased their target price on shares of Intuitive Surgical from $500.00 to $540.00 and gave the company an "outperform" rating in a research report on Monday, October 14th. Robert W. Baird raised their target price on Intuitive Surgical from $503.00 to $565.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Erste Group Bank upgraded shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a research report on Tuesday. Finally, Wells Fargo & Company lifted their price target on shares of Intuitive Surgical from $466.00 to $549.00 and gave the stock an "overweight" rating in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $524.61.

Insider Activity

In related news, insider Jamie Samath sold 22,903 shares of the business's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $525.00, for a total value of $12,024,075.00. Following the transaction, the insider now directly owns 8,757 shares of the company's stock, valued at approximately $4,597,425. The trade was a 72.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Henry L. Charlton sold 40,243 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $486.84, for a total value of $19,591,902.12. Following the sale, the senior vice president now directly owns 3,001 shares in the company, valued at $1,461,006.84. This trade represents a 93.06 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 91,178 shares of company stock worth $45,897,071. Insiders own 0.80% 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.