Intuitive Surgical, Inc. (NASDAQ:ISRG) Holdings Decreased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 22.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 304,771 shares of the medical equipment provider's stock after selling 88,175 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.09% of Intuitive Surgical worth $151,276,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC lifted its holdings in shares of Intuitive Surgical by 24.9% in the 4th quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider's stock valued at $1,916,000 after buying an additional 731 shares during the period. Bank Pictet & Cie Europe AG lifted its holdings in Intuitive Surgical by 0.5% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 190,969 shares of the medical equipment provider's stock valued at $99,678,000 after acquiring an additional 883 shares during the period. Whipplewood Advisors LLC acquired a new stake in Intuitive Surgical in the fourth quarter valued at $269,000. Kovack Advisors Inc. lifted its holdings in Intuitive Surgical by 21.5% in the fourth quarter. Kovack Advisors Inc. now owns 1,686 shares of the medical equipment provider's stock valued at $880,000 after acquiring an additional 298 shares during the period. Finally, Versor Investments LP acquired a new stake in Intuitive Surgical in the fourth quarter valued at $248,000. Institutional investors and hedge funds own 83.64% of the company's stock.

Analyst Upgrades and Downgrades

ISRG has been the subject of several recent analyst reports. Truist Financial reduced their price objective 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. Erste Group Bank upgraded shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a research report on Thursday, June 5th. Piper Sandler reduced their price target on shares of Intuitive Surgical from $670.00 to $575.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft cut Intuitive Surgical from a "hold" rating to a "sell" rating and reduced their price objective for the stock from $515.00 to $440.00 in a report on Monday, June 9th. Finally, Royal Bank Of Canada reduced their price objective on Intuitive Surgical from $630.00 to $605.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $588.95.

Intuitive Surgical Price Performance

ISRG traded down $0.48 during trading hours on Friday, reaching $533.71. 2,014,026 shares of the stock traded hands, compared to its average volume of 1,675,502. The firm's fifty day simple moving average is $532.08 and its two-hundred day simple moving average is $536.80. The company has a market cap of $191.29 billion, a price-to-earnings ratio of 78.26, a PEG ratio of 5.67 and a beta of 1.67. Intuitive Surgical, Inc. has a fifty-two week low of $413.82 and a fifty-two week high of $616.00.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its 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. Intuitive Surgical had a return on equity of 14.43% and a net margin of 28.41%. The company had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same period last year, the firm earned $1.50 earnings per share. On average, research analysts predict that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Insiders Place Their Bets

In other Intuitive Surgical news, Director Jami K. Nachtsheim sold 2,400 shares of Intuitive Surgical stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $520.00, for a total value of $1,248,000.00. Following the completion of the transaction, the director now owns 6,371 shares of the company's stock, valued at $3,312,920. The trade was a 27.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Robert Desantis sold 188 shares of the firm's stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $515.91, for a total value of $96,991.08. Following the completion of the sale, the executive vice president now directly owns 5,224 shares in the company, valued at approximately $2,695,113.84. This trade represents a 3.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,998 shares of company stock valued at $2,611,577 in the last ninety days. Corporate insiders own 0.70% of the company's stock.

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.