Gateway Investment Advisers LLC Trims Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Gateway Investment Advisers LLC decreased its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 6.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 102,911 shares of the medical equipment provider's stock after selling 6,643 shares during the period. Gateway Investment Advisers LLC's holdings in Intuitive Surgical were worth $50,969,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Sycomore Asset Management boosted its stake in shares of Intuitive Surgical by 27.4% during the fourth 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 period. Castleark Management LLC boosted its stake 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 purchasing an additional 2,990 shares during the period. Truist Financial Corp boosted its stake in shares of Intuitive Surgical by 3.0% during the fourth quarter. Truist Financial Corp now owns 248,092 shares of the medical equipment provider's stock valued at $129,494,000 after purchasing an additional 7,298 shares during the period. Global X Japan Co. Ltd. boosted its stake in shares of Intuitive Surgical by 9.8% during the fourth quarter. Global X Japan Co. Ltd. now owns 46,289 shares of the medical equipment provider's stock valued at $24,161,000 after purchasing an additional 4,140 shares during the period. Finally, Northeast Investment Management boosted its stake in shares of Intuitive Surgical by 3.1% during the fourth quarter. Northeast Investment Management now owns 89,170 shares of the medical equipment provider's stock valued at $46,543,000 after purchasing an additional 2,685 shares during the period. Institutional investors own 83.64% of the company's stock.

Insider Buying and Selling

In other news, Director Jami K. Nachtsheim sold 2,400 shares of the stock in a transaction that occurred 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 transaction, the director now owns 6,371 shares in the company, valued at $3,312,920. This trade represents a 27.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Brian Edward Miller sold 8,900 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $485.07, for a total value of $4,317,123.00. Following the transaction, the executive vice president now owns 5,758 shares in the company, valued at $2,793,033.06. This trade represents a 60.72% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,443 shares of company stock worth $12,692,195. 0.70% of the stock is owned by company insiders.

Intuitive Surgical Stock Down 0.2%

Shares of ISRG traded down $0.98 during mid-day trading on Friday, hitting $557.08. 1,103,774 shares of the company traded hands, compared to its average volume of 1,641,815. Intuitive Surgical, Inc. has a 1-year low of $413.52 and a 1-year high of $616.00. The company has a market capitalization of $199.67 billion, a PE ratio of 86.91, a price-to-earnings-growth ratio of 5.85 and a beta of 1.67. The business has a 50 day moving average of $521.99 and a 200 day moving average of $539.26.

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

Analyst Ratings Changes

A number of analysts have recently issued reports on ISRG shares. Piper Sandler lowered their target price on shares of Intuitive Surgical from $670.00 to $575.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Truist Financial lowered their target price on shares of Intuitive Surgical from $605.00 to $590.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. BTIG Research set a $560.00 target price on shares of Intuitive Surgical and gave the company a "buy" rating in a research note on Monday, April 14th. Citigroup reaffirmed a "buy" rating and issued a $650.00 price objective (up from $590.00) on shares of Intuitive Surgical in a research note on Thursday, May 22nd. Finally, Robert W. Baird lowered their price objective on shares of Intuitive Surgical from $600.00 to $575.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Intuitive Surgical has a consensus rating of "Moderate Buy" and an average target price of $596.05.

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.