Victory Capital Management Inc. Lowers Stock Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Victory Capital Management Inc. decreased its position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 5.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 430,479 shares of the medical equipment provider's stock after selling 24,738 shares during the quarter. Victory Capital Management Inc. owned approximately 0.12% of Intuitive Surgical worth $213,203,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Bridgewater Advisors Inc. bought a new position in Intuitive Surgical in the 1st quarter valued at $459,000. Concord Asset Management LLC VA bought a new position in shares of Intuitive Surgical during the 1st quarter worth $1,421,000. Larson Financial Group LLC grew its stake in shares of Intuitive Surgical by 8.8% during the 1st quarter. Larson Financial Group LLC now owns 4,456 shares of the medical equipment provider's stock worth $2,207,000 after acquiring an additional 359 shares during the period. Sage Mountain Advisors LLC grew its stake in shares of Intuitive Surgical by 3.9% during the 1st quarter. Sage Mountain Advisors LLC now owns 1,942 shares of the medical equipment provider's stock worth $962,000 after acquiring an additional 73 shares during the period. Finally, Wealthfront Advisers LLC grew its stake in shares of Intuitive Surgical by 1.8% during the 1st quarter. Wealthfront Advisers LLC now owns 44,686 shares of the medical equipment provider's stock worth $22,132,000 after acquiring an additional 770 shares during the period. Institutional investors own 83.64% of the company's stock.

Intuitive Surgical Price Performance

Shares of ISRG traded up $1.68 during midday trading on Friday, reaching $517.84. 759,480 shares of the stock were exchanged, compared to its average volume of 1,680,880. The business's 50-day moving average price is $536.26 and its 200 day moving average price is $536.13. Intuitive Surgical, Inc. has a twelve month low of $413.82 and a twelve month high of $616.00. The company has a market capitalization of $185.60 billion, a price-to-earnings ratio of 75.98, a PEG ratio of 5.44 and a beta of 1.64.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its 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. Intuitive Surgical had a return on equity of 14.43% and a net margin of 28.41%. The business had revenue of $2.25 billion for the quarter, compared to analysts' expectations of $2.19 billion. During the same quarter in the previous year, the firm earned $1.50 earnings per share. As a group, equities research analysts expect that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on ISRG. Royal Bank Of Canada cut their price target on Intuitive Surgical from $630.00 to $605.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft cut Intuitive Surgical from a "hold" rating to a "sell" rating and dropped their price objective for the stock from $515.00 to $440.00 in a report on Monday, June 9th. Truist Financial dropped their price target 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. Barclays dropped their price target on Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Finally, Robert W. Baird dropped their price target on Intuitive Surgical from $600.00 to $575.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $592.86.

Insiders Place Their Bets

In other Intuitive Surgical news, EVP Robert Desantis sold 188 shares of the business's stock in a transaction on Monday, April 28th. The stock was sold at an average price of $515.91, for a total value of $96,991.08. Following the completion of the transaction, the executive vice president directly owned 5,224 shares in the company, valued at approximately $2,695,113.84. The trade was a 3.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Mark Brosius sold 216 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $563.11, for a total value of $121,631.76. Following the completion of the transaction, the senior vice president owned 907 shares of the company's stock, valued at $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. Insiders sold a total of 4,998 shares of company stock worth $2,611,577 over the last quarter. 0.70% of the stock is owned by company insiders.

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.