Vestcor Inc Trims Stock Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Key Points

• Vestcor Inc reduced its stake in Intuitive Surgical, Inc. by 6.8%, selling 621 shares and leaving it with 8,499 shares valued at $4.2 million.
• Multiple analysts have raised their price targets for Intuitive Surgical, with a consensus target price now set at $592.05 and a majority rating of "Moderate Buy."
• Insider selling has occurred recently, with SVP Mark Brosius and CEO Gary S. Guthart selling a combined total of over 8,000 shares, indicating a total insider sale of over $7.9 million in the last three months.

Vestcor Inc lessened its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 6.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 8,499 shares of the medical equipment provider's stock after selling 621 shares during the period. Vestcor Inc's holdings in Intuitive Surgical were worth $4,209,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of ISRG. Hurley Capital LLC bought a new position in shares of Intuitive Surgical during the 4th quarter valued at about $28,000. Parvin Asset Management LLC bought a new position in shares of Intuitive Surgical during the 4th quarter valued at about $26,000. Chilton Capital Management LLC boosted its holdings in shares of Intuitive Surgical by 614.3% during the 1st quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock valued at $25,000 after purchasing an additional 43 shares during the last quarter. Global Financial Private Client LLC boosted its holdings in shares of Intuitive Surgical by 253.3% during the 1st quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider's stock valued at $26,000 after purchasing an additional 38 shares during the last quarter. Finally, Elite Financial Inc. bought a new position in shares of Intuitive Surgical during the 1st quarter valued at about $26,000. Hedge funds and other institutional investors own 83.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on ISRG. Piper Sandler reissued an "overweight" rating and set a $595.00 price objective (up previously from $575.00) on shares of Intuitive Surgical in a report on Wednesday, July 23rd. Wall Street Zen raised shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Barclays dropped their price objective on shares of Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Royal Bank Of Canada increased their price target on shares of Intuitive Surgical from $605.00 to $615.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Finally, Robert W. Baird lowered their price target on shares of Intuitive Surgical from $600.00 to $575.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat, Intuitive Surgical has an average rating of "Moderate Buy" and a consensus target price of $592.05.

Insider Transactions at Intuitive Surgical

In other news, insider Gary S. Guthart sold 7,893 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $498.64, for a total transaction of $3,935,765.52. Following the transaction, the insider directly owned 13,187 shares of the company's stock, valued at approximately $6,575,565.68. This trade represents a 37.44% 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 firm's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $563.11, for a total transaction of $121,631.76. Following the transaction, the senior vice president directly owned 907 shares in the company, valued at approximately $510,740.77. This trade represents a 19.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,903 shares of company stock valued at $7,932,778. 0.70% of the stock is currently owned by company insiders.

Intuitive Surgical Stock Performance

NASDAQ ISRG traded up $2.03 during trading on Friday, hitting $483.12. The stock had a trading volume of 2,982,876 shares, compared to its average volume of 1,997,437. The stock has a market capitalization of $173.19 billion, a price-to-earnings ratio of 67.38, a P/E/G ratio of 5.04 and a beta of 1.60. Intuitive Surgical, Inc. has a one year low of $425.00 and a one year high of $616.00. The stock has a 50 day simple moving average of $524.01 and a 200 day simple moving average of $533.35.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.26. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.35 billion. Intuitive Surgical had a net margin of 28.51% and a return on equity of 14.56%. The firm's quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.78 earnings per share. On average, sell-side analysts predict 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.