Parallel Advisors LLC Has $19.38 Million Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Parallel Advisors LLC lessened its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,139 shares of the medical equipment provider's stock after selling 1,144 shares during the period. Parallel Advisors LLC's holdings in Intuitive Surgical were worth $19,384,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Atala Financial Inc acquired a new stake in Intuitive Surgical during the 4th quarter worth about $25,000. Hurley Capital LLC acquired a new stake in shares of Intuitive Surgical during the fourth quarter worth approximately $28,000. Parvin Asset Management LLC acquired a new stake in shares of Intuitive Surgical during the fourth quarter worth approximately $26,000. BankPlus Trust Department acquired a new stake in shares of Intuitive Surgical during the fourth quarter worth approximately $28,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Intuitive Surgical during the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 83.64% of the company's stock.

Insiders Place Their Bets

In related news, VP Fredrik Widman sold 810 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $573.78, for a total transaction of $464,761.80. Following the completion of the transaction, the vice president now owns 473 shares of the company's stock, valued at approximately $271,397.94. The trade was a 63.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Myriam Curet sold 3,031 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $577.30, for a total value of $1,749,796.30. Following the transaction, the executive vice president now directly owns 353 shares of the company's stock, valued at $203,786.90. This represents a 89.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,111 shares of company stock valued at $15,364,055 in the last quarter. Insiders own 0.70% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Evercore ISI decreased their target price on shares of Intuitive Surgical from $510.00 to $470.00 and set an "in-line" rating for the company in a research note on Wednesday, April 23rd. Citigroup reissued a "buy" rating and set a $650.00 price objective (up previously from $590.00) on shares of Intuitive Surgical in a research report on Thursday, May 22nd. Truist Financial reduced their price objective on 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 reduced their price objective on Intuitive Surgical from $670.00 to $575.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Finally, BTIG Research set a $560.00 price target on Intuitive Surgical and gave the company a "buy" rating in a report on Monday, April 14th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $596.05.

Intuitive Surgical Price Performance

ISRG traded down $4.61 on Friday, hitting $551.14. The company had a trading volume of 2,091,011 shares, compared to its average volume of 1,646,559. The company's fifty day moving average price is $516.44 and its 200 day moving average price is $538.53. Intuitive Surgical, Inc. has a 1-year low of $397.47 and a 1-year high of $616.00. The stock has a market cap of $197.54 billion, a price-to-earnings ratio of 85.98, a price-to-earnings-growth ratio of 5.85 and a beta of 1.70.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued 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. Intuitive Surgical had a net margin of 27.81% and a return on equity of 14.55%. The business had revenue of $2.25 billion during the quarter, compared to analysts' expectations of $2.19 billion. During the same period in the previous year, the company earned $1.50 earnings per share. On average, sell-side analysts forecast that Intuitive Surgical, Inc. will post 6.43 EPS for the current 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.