Norges Bank Invests $2.40 Billion in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Norges Bank purchased a new position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,600,913 shares of the medical equipment provider's stock, valued at approximately $2,401,493,000. Norges Bank owned about 1.29% of Intuitive Surgical at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Howard Capital Management Group LLC increased its stake in 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 during the period. Principal Financial Group Inc. grew its holdings in shares of Intuitive Surgical by 1.5% during the 3rd quarter. Principal Financial Group Inc. now owns 602,393 shares of the medical equipment provider's stock worth $295,938,000 after acquiring an additional 9,194 shares during the period. Quest Partners LLC purchased a new position in shares of Intuitive Surgical in the 3rd quarter valued at approximately $173,000. Algert Global LLC bought a new stake in shares of Intuitive Surgical during the third quarter valued at approximately $1,988,000. Finally, Larson Financial Group LLC grew its stake in Intuitive Surgical by 79.4% in the third quarter. Larson Financial Group LLC now owns 854 shares of the medical equipment provider's stock worth $420,000 after purchasing an additional 378 shares during the period. Hedge funds and other institutional investors own 83.64% of the company's stock.

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Insider Buying and Selling at Intuitive Surgical

In related news, CFO Jamie Samath sold 94 shares of the firm's stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $571.11, for a total value of $53,684.34. Following the transaction, the chief financial officer now owns 2,630 shares of the company's stock, valued at $1,502,019.30. This trade represents a 3.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Brian Edward Miller sold 8,900 shares of the business's stock in a transaction dated 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 sale, the executive vice president now directly owns 5,758 shares of the company's stock, valued at approximately $2,793,033.06. This trade represents a 60.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,754 shares of company stock valued at $17,691,621 in the last quarter. 0.70% of the stock is owned by insiders.

Intuitive Surgical Stock Performance

NASDAQ ISRG traded up $1.23 during trading on Monday, hitting $493.07. The stock had a trading volume of 851,255 shares, compared to its average volume of 1,524,518. The stock has a market capitalization of $175.62 billion, a price-to-earnings ratio of 76.69, a P/E/G ratio of 5.85 and a beta of 1.43. The stock has a 50 day simple moving average of $556.28 and a 200 day simple moving average of $532.97. Intuitive Surgical, Inc. has a one year low of $364.17 and a one year high of $616.00.

Wall Street Analyst Weigh In

ISRG has been the subject of a number of recent research reports. Wells Fargo & Company lifted their price target on shares of Intuitive Surgical from $630.00 to $687.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. Jefferies Financial Group raised their price objective on Intuitive Surgical from $475.00 to $575.00 in a research report on Monday, January 27th. Royal Bank of Canada raised their price target on Intuitive Surgical from $611.00 to $641.00 in a report on Monday, January 27th. Morgan Stanley upgraded shares of Intuitive Surgical from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $522.00 to $650.00 in a research note on Monday, December 2nd. Finally, UBS Group raised their price objective on shares of Intuitive Surgical from $500.00 to $560.00 and gave the company a "neutral" 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 assigned a buy rating to the stock. According to MarketBeat, Intuitive Surgical has a consensus rating of "Moderate Buy" and an average target price of $611.86.

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.