Alliancebernstein L.P. Sells 18,607 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Alliancebernstein L.P. has reduced its stake in Intuitive Surgical, Inc. by 0.4%, selling 18,607 shares and now holding approximately $2.09 billion worth of the company's stock.
• Shares of Intuitive Surgical opened at $469.07 after hitting a yearly high of $616.00, and the company's recent earnings report showed a 21.4% increase in revenue year-over-year.
• Several analysts have raised their target prices for Intuitive Surgical, with the average consensus price target now standing at $595.95 and a "Moderate Buy" rating from 13 equities research analysts.

Alliancebernstein L.P. decreased its position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 0.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,219,391 shares of the medical equipment provider's stock after selling 18,607 shares during the quarter. Intuitive Surgical accounts for 0.8% of Alliancebernstein L.P.'s portfolio, making the stock its 19th largest position. Alliancebernstein L.P. owned about 1.18% of Intuitive Surgical worth $2,089,738,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. AlphaCore Capital LLC increased its stake in Intuitive Surgical by 4.2% in the 4th quarter. AlphaCore Capital LLC now owns 451 shares of the medical equipment provider's stock worth $235,000 after purchasing an additional 18 shares during the period. Second Line Capital LLC increased its stake in shares of Intuitive Surgical by 3.4% during the fourth quarter. Second Line Capital LLC now owns 578 shares of the medical equipment provider's stock valued at $302,000 after buying an additional 19 shares during the period. Colonial Trust Co SC increased its stake in shares of Intuitive Surgical by 8.8% during the fourth quarter. Colonial Trust Co SC now owns 246 shares of the medical equipment provider's stock valued at $128,000 after buying an additional 20 shares during the period. Crown Wealth Group LLC increased its stake in shares of Intuitive Surgical by 4.8% during the first quarter. Crown Wealth Group LLC now owns 440 shares of the medical equipment provider's stock valued at $218,000 after buying an additional 20 shares during the period. Finally, FSM Wealth Advisors LLC increased its stake in shares of Intuitive Surgical by 3.8% during the first quarter. FSM Wealth Advisors LLC now owns 546 shares of the medical equipment provider's stock valued at $270,000 after buying an additional 20 shares during the period. 83.64% of the stock is owned by hedge funds and other institutional investors.

Intuitive Surgical Price Performance

Shares of NASDAQ:ISRG opened at $469.07 on Wednesday. The company has a market cap of $168.15 billion, a P/E ratio of 65.42, a PEG ratio of 4.96 and a beta of 1.61. Intuitive Surgical, Inc. has a 1 year low of $425.00 and a 1 year high of $616.00. The stock's fifty day moving average price is $498.54 and its 200-day moving average price is $515.81.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.93 by $0.26. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.35 billion. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%.The company's quarterly revenue was up 21.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.78 earnings per share. On average, sell-side analysts anticipate that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Insider Activity

In other Intuitive Surgical news, insider Gary S. Guthart sold 29,360 shares of the stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $472.49, for a total value of $13,872,306.40. Following the transaction, the insider owned 19,827 shares of the company's stock, valued at approximately $9,368,059.23. This represents a 59.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Myriam Curet sold 4,500 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $492.48, for a total value of $2,216,160.00. Following the completion of the transaction, the executive vice president directly owned 353 shares in the company, valued at approximately $173,845.44. This represents a 92.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,769 shares of company stock valued at $21,532,536 over the last ninety days. 0.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on ISRG. Wells Fargo & Company boosted their target price on Intuitive Surgical from $559.00 to $599.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. BTIG Research boosted their target price on Intuitive Surgical from $566.00 to $571.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $615.00 price target on shares of Intuitive Surgical in a research note on Tuesday, August 19th. Piper Sandler reaffirmed an "overweight" rating and issued a $595.00 price target (up from $575.00) on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. Finally, Truist Financial upped their price target on Intuitive Surgical from $590.00 to $600.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Thirteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Intuitive Surgical has an average rating of "Moderate Buy" and a consensus price target of $595.95.

Intuitive Surgical 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.

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