Corebridge Financial Inc. Has $53.01 Million Stock Position in Intuitive Surgical, Inc. $ISRG

Key Points

• Corebridge Financial Inc. sold 3,925 shares of Intuitive Surgical, Inc., reducing its stake by 3.5%, and now holds 107,029 shares valued at approximately $53 million.
• Institutional ownership of Intuitive Surgical is significant, with 83.64% of the stock held by investors, including notable increases from firms like Synovus Financial Corp.
• Analyst ratings for Intuitive Surgical reflect a consensus of "Moderate Buy" with an average price target of approximately $595.95, signaling continued investor interest in the stock despite recent insider selling activity.

Corebridge Financial Inc. trimmed its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 3.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 107,029 shares of the medical equipment provider's stock after selling 3,925 shares during the period. Corebridge Financial Inc.'s holdings in Intuitive Surgical were worth $53,008,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Chilton Capital Management LLC lifted its holdings in shares of Intuitive Surgical by 614.3% during the first quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock valued at $25,000 after purchasing an additional 43 shares during the last quarter. Parvin Asset Management LLC purchased a new stake in shares of Intuitive Surgical during the fourth quarter valued at $26,000. Global Financial Private Client LLC lifted its holdings in shares of Intuitive Surgical by 253.3% during the first quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider's stock valued at $26,000 after purchasing an additional 38 shares during the last quarter. Elite Financial Inc. purchased a new stake in shares of Intuitive Surgical during the first quarter valued at $26,000. Finally, LFA Lugano Financial Advisors SA purchased a new stake in shares of Intuitive Surgical during the first quarter valued at $30,000. 83.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ISRG has been the subject of several analyst reports. Truist Financial upped their target price on Intuitive Surgical from $590.00 to $600.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Piper Sandler reissued an "overweight" rating and issued a $595.00 price objective (up from $575.00) on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. Erste Group Bank reissued a "hold" rating on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Intuitive Surgical in a research note on Friday, August 22nd. Finally, Wells Fargo & Company increased their price objective on Intuitive Surgical from $559.00 to $599.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Thirteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $595.95.

Intuitive Surgical Stock Performance

Shares of Intuitive Surgical stock traded down $0.54 during trading on Friday, hitting $473.30. 1,651,537 shares of the stock traded hands, compared to its average volume of 1,988,820. The stock has a market cap of $169.67 billion, a P/E ratio of 66.01, a PEG ratio of 4.94 and a beta of 1.59. Intuitive Surgical, Inc. has a twelve month low of $425.00 and a twelve month high of $616.00. The company has a fifty day moving average price of $501.17 and a two-hundred day moving average price of $518.82.

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 the consensus estimate of $1.93 by $0.26. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%.The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period in the previous year, the company earned $1.78 EPS. The firm's revenue was up 21.4% on a year-over-year basis. On average, equities research analysts expect that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

Insider Activity at Intuitive Surgical

In related news, EVP Myriam Curet sold 4,500 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $492.48, for a total value of $2,216,160.00. Following the transaction, the executive vice president directly owned 353 shares of the company's stock, valued at approximately $173,845.44. This trade represents a 92.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mark Brosius sold 216 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $563.11, for a total value of $121,631.76. Following the completion of the transaction, the senior vice president directly owned 907 shares in the company, valued at $510,740.77. The trade was a 19.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,839 shares of company stock valued at $7,896,972. Corporate insiders own 0.70% 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.