Avidity Partners Management LP Has $33.82 Million Stake in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Avidity Partners Management LP trimmed its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 56.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 64,800 shares of the medical equipment provider's stock after selling 83,400 shares during the period. Intuitive Surgical accounts for 3.3% of Avidity Partners Management LP's portfolio, making the stock its 7th largest holding. Avidity Partners Management LP's holdings in Intuitive Surgical were worth $33,823,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. M.E. Allison & CO. Inc. purchased a new stake in shares of Intuitive Surgical in the fourth quarter worth about $449,000. Seilern Investment Management Ltd bought a new stake in Intuitive Surgical in the 4th quarter worth approximately $82,517,000. Sycomore Asset Management raised its holdings in shares of Intuitive Surgical by 27.4% during the 4th quarter. Sycomore Asset Management now owns 18,945 shares of the medical equipment provider's stock worth $9,214,000 after acquiring an additional 4,079 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in shares of Intuitive Surgical by 5.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,843 shares of the medical equipment provider's stock valued at $5,138,000 after acquiring an additional 525 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Intuitive Surgical by 73.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 270,029 shares of the medical equipment provider's stock valued at $132,657,000 after purchasing an additional 114,149 shares in the last quarter. 83.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ISRG shares. Bernstein Bank upped their price target on shares of Intuitive Surgical from $655.00 to $700.00 and gave the company an "overweight" rating in a research note on Monday, January 27th. CICC Research started coverage on shares of Intuitive Surgical in a research report on Monday, January 27th. They set a "neutral" rating and a $550.00 target price on the stock. Leerink Partners lifted their price target on Intuitive Surgical from $490.00 to $548.00 in a research report on Monday, January 27th. Truist Financial reduced their price objective on Intuitive Surgical from $605.00 to $590.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Finally, Erste Group Bank lowered Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 17th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $598.95.

Insider Buying and Selling

In other Intuitive Surgical news, CFO Jamie Samath sold 269 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $590.00, for a total value of $158,710.00. Following the completion of the sale, the chief financial officer now directly owns 3,282 shares in the company, valued at approximately $1,936,380. This trade represents a 7.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Myriam Curet sold 408 shares of Intuitive Surgical stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $589.75, for a total transaction of $240,618.00. Following the completion of the sale, the executive vice president now owns 353 shares of the company's stock, valued at $208,181.75. This trade represents a 53.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,313 shares of company stock valued at $17,229,143 over the last 90 days. Corporate insiders own 0.70% of the company's stock.

Intuitive Surgical Price Performance

ISRG stock opened at $529.42 on Friday. Intuitive Surgical, Inc. has a 12 month low of $379.67 and a 12 month high of $616.00. The firm's 50-day moving average is $504.32 and its 200 day moving average is $533.96. The company has a market capitalization of $189.75 billion, a PE ratio of 82.59, a P/E/G ratio of 5.85 and a beta of 1.55.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The medical equipment provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.10. The firm had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.19 billion. Intuitive Surgical had a net margin of 27.81% and a return on equity of 14.55%. During the same quarter in the previous year, the firm posted $1.50 earnings per share. Sell-side analysts forecast that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

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.

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