Intuitive Surgical, Inc. (NASDAQ:ISRG) Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC reduced its position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 5.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 160,422 shares of the medical equipment provider's stock after selling 9,348 shares during the quarter. Manning & Napier Advisors LLC's holdings in Intuitive Surgical were worth $79,452,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Castleark Management LLC boosted its holdings in shares of Intuitive Surgical by 3.4% in the fourth quarter. Castleark Management LLC now owns 90,469 shares of the medical equipment provider's stock valued at $47,221,000 after acquiring an additional 2,990 shares during the period. FourThought Financial Partners LLC acquired a new stake in shares of Intuitive Surgical in the fourth quarter valued at approximately $1,158,000. Longbow Finance SA acquired a new stake in shares of Intuitive Surgical in the fourth quarter valued at approximately $4,431,000. Ewing Morris & Co. Investment Partners Ltd. acquired a new stake in shares of Intuitive Surgical in the fourth quarter valued at approximately $454,000. Finally, Whalerock Point Partners LLC acquired a new stake in shares of Intuitive Surgical in the fourth quarter valued at approximately $209,000. 83.64% of the stock is owned by institutional investors and hedge funds.

Intuitive Surgical Stock Performance

Intuitive Surgical stock traded up $5.73 during midday trading on Monday, reaching $515.09. 1,217,351 shares of the company were exchanged, compared to its average volume of 1,675,816. The company has a market capitalization of $184.62 billion, a price-to-earnings ratio of 75.53, a P/E/G ratio of 5.40 and a beta of 1.67. The firm's 50-day simple moving average is $528.03 and its 200-day simple moving average is $537.31. Intuitive Surgical, Inc. has a 1 year low of $413.82 and a 1 year high of $616.00.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $2.25 billion during the quarter, compared to analysts' expectations 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 business posted $1.50 EPS. On average, analysts forecast that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other Intuitive Surgical news, EVP Gary Loeb sold 1,700 shares of the firm's stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $513.18, for a total value of $872,406.00. Following the sale, the executive vice president now directly owns 2,245 shares of the company's stock, valued at approximately $1,152,089.10. This trade represents a 43.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mark Brosius sold 216 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $563.11, for a total value of $121,631.76. Following the completion of the sale, the senior vice president now directly owns 907 shares in the company, valued at approximately $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 4,998 shares of company stock valued at $2,611,577. Insiders own 0.70% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ISRG shares. Deutsche Bank Aktiengesellschaft downgraded Intuitive Surgical from a "hold" rating to a "sell" rating and decreased their price objective for the company from $515.00 to $440.00 in a report on Monday, June 9th. Piper Sandler decreased their price target on Intuitive Surgical from $670.00 to $575.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Royal Bank Of Canada decreased their price target on Intuitive Surgical from $630.00 to $605.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Citigroup reaffirmed a "buy" rating and set a $650.00 price target (up from $590.00) on shares of Intuitive Surgical in a report on Thursday, May 22nd. Finally, Truist Financial decreased their price target on Intuitive Surgical from $605.00 to $590.00 and set a "buy" 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 issued a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $588.95.

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.