Employees Retirement System of Texas Raises Stock Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Employees Retirement System of Texas grew its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 16.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,346 shares of the medical equipment provider's stock after acquiring an additional 1,165 shares during the quarter. Employees Retirement System of Texas' holdings in Intuitive Surgical were worth $4,356,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Sycomore Asset Management boosted its stake in Intuitive Surgical by 27.4% during the 4th quarter. Sycomore Asset Management now owns 18,945 shares of the medical equipment provider's stock valued at $9,214,000 after purchasing an additional 4,079 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its position in shares of Intuitive Surgical by 5.6% during the fourth 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 buying an additional 525 shares during the last quarter. Castleark Management LLC boosted its position in shares of Intuitive Surgical by 3.4% during the fourth quarter. Castleark Management LLC now owns 90,469 shares of the medical equipment provider's stock valued at $47,221,000 after buying an additional 2,990 shares during the last quarter. Truist Financial Corp increased its holdings in Intuitive Surgical by 3.0% in the 4th quarter. Truist Financial Corp now owns 248,092 shares of the medical equipment provider's stock worth $129,494,000 after buying an additional 7,298 shares in the last quarter. Finally, Global X Japan Co. Ltd. lifted its stake in Intuitive Surgical by 9.8% during the 4th quarter. Global X Japan Co. Ltd. now owns 46,289 shares of the medical equipment provider's stock valued at $24,161,000 after acquiring an additional 4,140 shares during the period. 83.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Robert W. Baird decreased their price objective on shares of Intuitive Surgical from $600.00 to $575.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Piper Sandler lowered their price target on Intuitive Surgical from $670.00 to $575.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Truist Financial dropped their price target 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. Barclays lowered their target price on Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Finally, Citigroup reissued a "buy" rating and issued a $650.00 target price (up from $590.00) on shares of Intuitive Surgical in a research report on Thursday, May 22nd. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $596.05.

Insider Buying and Selling at Intuitive Surgical

In related news, EVP Robert Desantis sold 188 shares of the firm's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $515.91, for a total transaction of $96,991.08. Following the completion of the transaction, the executive vice president now directly owns 5,224 shares of the company's stock, valued at approximately $2,695,113.84. This trade represents a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jami K. Nachtsheim sold 2,400 shares of the business's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $520.00, for a total transaction of $1,248,000.00. Following the completion of the sale, the director now owns 6,371 shares in the company, valued at approximately $3,312,920. The trade was a 27.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,111 shares of company stock valued at $15,364,055 in the last three months. 0.70% of the stock is currently owned by corporate insiders.

Intuitive Surgical Stock Down 0.8%

ISRG stock traded down $4.61 during trading on Friday, reaching $551.14. The company's stock had a trading volume of 2,091,011 shares, compared to its average volume of 1,647,940. The company's fifty day moving average is $515.81 and its 200-day moving average is $538.43. The company has a market capitalization of $197.54 billion, a P/E ratio of 85.98, a price-to-earnings-growth ratio of 5.85 and a beta of 1.70. Intuitive Surgical, Inc. has a 1 year low of $396.48 and a 1 year high of $616.00.

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

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.