Oppenheimer Asset Management Inc. Lowers Stock Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Oppenheimer Asset Management Inc. lessened its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 1.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 52,698 shares of the medical equipment provider's stock after selling 717 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Intuitive Surgical were worth $26,100,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of ISRG. Atala Financial Inc purchased a new stake in Intuitive Surgical during the fourth quarter valued at approximately $25,000. Hurley Capital LLC purchased a new stake in Intuitive Surgical during the fourth quarter valued at approximately $28,000. Parvin Asset Management LLC purchased a new stake in Intuitive Surgical during the fourth quarter valued at approximately $26,000. BankPlus Trust Department purchased a new stake in Intuitive Surgical during the fourth quarter valued at approximately $28,000. Finally, Global Financial Private Client LLC lifted its position in Intuitive Surgical by 253.3% during the first quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider's stock valued at $26,000 after acquiring an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company's stock.

Insider Transactions at Intuitive Surgical

In related news, EVP Gary Loeb sold 1,700 shares of the stock in a transaction on Friday, April 25th. The shares were sold at an average price of $513.18, for a total transaction 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 represents a 43.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jami K. Nachtsheim sold 2,400 shares of the 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 now directly owns 6,371 shares in the company, valued at $3,312,920. This trade represents a 27.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,998 shares of company stock worth $2,611,577 over the last 90 days. 0.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Royal Bank Of Canada decreased their target price on shares of Intuitive Surgical from $630.00 to $605.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Truist Financial decreased 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 report on Wednesday, April 23rd. Piper Sandler decreased 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 report 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 report on Monday, April 14th. Finally, Erste Group Bank upgraded shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a research note on Thursday, June 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $588.95.

Intuitive Surgical Stock Up 1.6%

Shares of NASDAQ:ISRG traded up $7.99 during midday trading on Tuesday, reaching $523.08. The company's stock had a trading volume of 1,593,560 shares, compared to its average volume of 1,675,751. The firm has a market capitalization of $187.48 billion, a PE ratio of 76.70, a P/E/G ratio of 5.46 and a beta of 1.67. Intuitive Surgical, Inc. has a twelve month low of $413.82 and a twelve month high of $616.00. The stock has a fifty day moving average of $529.22 and a 200 day moving average of $536.97.

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

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.