Jennison Associates LLC Decreases Stock Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Jennison Associates LLC reduced its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 7.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,594,031 shares of the medical equipment provider's stock after selling 217,284 shares during the quarter. Intuitive Surgical makes up approximately 0.9% of Jennison Associates LLC's investment portfolio, making the stock its 28th largest position. Jennison Associates LLC owned about 0.72% of Intuitive Surgical worth $1,284,746,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in ISRG. Commerzbank Aktiengesellschaft FI raised its stake in Intuitive Surgical by 15.4% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 11,131 shares of the medical equipment provider's stock worth $5,513,000 after acquiring an additional 1,485 shares in the last quarter. Asset Advisors Investment Management LLC acquired a new position in shares of Intuitive Surgical in the first quarter worth $1,707,000. Kingsview Wealth Management LLC boosted its position in Intuitive Surgical by 4.2% during the first quarter. Kingsview Wealth Management LLC now owns 4,535 shares of the medical equipment provider's stock worth $2,246,000 after acquiring an additional 181 shares during the last quarter. Concord Wealth Partners raised its stake in Intuitive Surgical by 210.4% during the first quarter. Concord Wealth Partners now owns 3,390 shares of the medical equipment provider's stock worth $1,679,000 after purchasing an additional 2,298 shares during the period. Finally, Napatree Capital LLC purchased a new stake in shares of Intuitive Surgical during the 1st quarter worth about $269,000. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. BTIG Research set a $566.00 target price on Intuitive Surgical and gave the company a "buy" rating in a report on Monday. Robert W. Baird dropped their price objective on Intuitive Surgical from $600.00 to $575.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Citigroup restated a "buy" rating and issued a $650.00 price objective (up previously from $590.00) on shares of Intuitive Surgical in a research note on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft lowered shares of Intuitive Surgical from a "hold" rating to a "sell" rating and lowered their target price for the stock from $515.00 to $440.00 in a report on Monday, June 9th. Finally, Erste Group Bank raised shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a research note on Thursday, June 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Intuitive Surgical has a consensus rating of "Moderate Buy" and a consensus price target of $592.86.

Intuitive Surgical Stock Up 0.5%

Shares of ISRG stock traded up $2.46 during trading hours on Friday, reaching $518.62. 1,903,997 shares of the company's stock were exchanged, compared to its average volume of 1,676,454. The stock has a market capitalization of $185.88 billion, a P/E ratio of 76.04, a P/E/G ratio of 5.47 and a beta of 1.64. The business has a fifty day moving average price of $536.26 and a 200-day moving average price of $536.13. Intuitive Surgical, Inc. has a fifty-two week low of $425.00 and a fifty-two week high of $616.00.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The medical equipment provider reported $1.81 EPS for the quarter, topping analysts' consensus estimates of $1.71 by $0.10. The company had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.19 billion. Intuitive Surgical had a return on equity of 14.43% and a net margin of 28.41%. During the same quarter last year, the firm posted $1.50 earnings per share. As a group, research analysts expect that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Jami K. Nachtsheim sold 2,400 shares of Intuitive Surgical 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 sale, the director directly owned 6,371 shares in the company, valued at approximately $3,312,920. This trade represents a 27.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Mark Brosius sold 216 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $563.11, for a total value of $121,631.76. Following the sale, the senior vice president owned 907 shares in the company, valued at approximately $510,740.77. This represents a 19.23% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,998 shares of company stock valued at $2,611,577. Company insiders own 0.70% of the company's stock.

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.