Salem Investment Counselors Inc. Has $31.36 Million Stock Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Salem Investment Counselors Inc. trimmed its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,082 shares of the medical equipment provider's stock after selling 2,818 shares during the period. Intuitive Surgical makes up 1.0% of Salem Investment Counselors Inc.'s portfolio, making the stock its 18th biggest holding. Salem Investment Counselors Inc.'s holdings in Intuitive Surgical were worth $31,360,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ISRG. Godsey & Gibb Inc. grew its holdings in Intuitive Surgical by 140.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 60 shares of the medical equipment provider's stock valued at $29,000 after buying an additional 35 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of Intuitive Surgical in the third quarter valued at approximately $33,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Intuitive Surgical in the second quarter worth $37,000. Capital Performance Advisors LLP bought a new position in Intuitive Surgical during the third quarter worth $38,000. Finally, DT Investment Partners LLC raised its stake in Intuitive Surgical by 80.0% during the 3rd quarter. DT Investment Partners LLC now owns 81 shares of the medical equipment provider's stock valued at $40,000 after purchasing an additional 36 shares during the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.

Intuitive Surgical Price Performance

Shares of ISRG stock traded down $7.72 during trading hours on Monday, reaching $539.75. 1,461,265 shares of the company were exchanged, compared to its average volume of 1,361,507. The company has a market cap of $192.25 billion, a price-to-earnings ratio of 86.78, a P/E/G ratio of 5.31 and a beta of 1.39. The stock's fifty day moving average is $535.93 and its two-hundred day moving average is $495.17. Intuitive Surgical, Inc. has a fifty-two week low of $355.17 and a fifty-two week high of $556.23.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its earnings results on Thursday, October 17th. The medical equipment provider reported $1.56 EPS for the quarter, beating the consensus estimate 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 analysts' expectations of $2.01 billion. On average, research analysts anticipate that Intuitive Surgical, Inc. will post 5.45 earnings per share for the current year.

Wall Street Analyst Weigh In

ISRG has been the topic of several research reports. JPMorgan Chase & Co. boosted their price objective on shares of Intuitive Surgical from $495.00 to $575.00 and gave the stock an "overweight" rating in a report on Friday, October 11th. Citigroup boosted their price target on Intuitive Surgical from $567.00 to $640.00 and gave the company a "buy" rating in a research note on Wednesday, December 11th. Leerink Partners raised their price objective on Intuitive Surgical from $489.00 to $502.00 in a research report on Thursday, October 17th. Wells Fargo & Company boosted their price objective on Intuitive Surgical from $549.00 to $630.00 and gave the company an "overweight" rating in a research report on Wednesday, December 11th. Finally, Morgan Stanley upgraded shares of Intuitive Surgical from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $522.00 to $650.00 in a research note on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $554.17.

Insiders Place Their Bets

In other Intuitive Surgical news, CEO Gary S. Guthart sold 18,151 shares of the company's stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $511.63, for a total value of $9,286,596.13. Following the completion of the sale, the chief executive officer now owns 24,219 shares of the company's stock, valued at approximately $12,391,166.97. This represents a 42.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jamie Samath sold 108 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $542.06, for a total transaction of $58,542.48. Following the completion of the sale, the chief financial officer now owns 8,757 shares in the company, valued at approximately $4,746,819.42. This trade represents a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 48,190 shares of company stock valued at $25,012,927. 0.90% of the stock is currently owned by insiders.

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.