First Manhattan CO. LLC. Sells 521 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

First Manhattan CO. LLC. lessened its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 31.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,137 shares of the medical equipment provider's stock after selling 521 shares during the quarter. First Manhattan CO. LLC.'s holdings in Intuitive Surgical were worth $593,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Intuitive Surgical by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 32,212,196 shares of the medical equipment provider's stock worth $16,813,478,000 after purchasing an additional 360,591 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Intuitive Surgical by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 7,756,727 shares of the medical equipment provider's stock worth $4,039,200,000 after purchasing an additional 243,802 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Intuitive Surgical by 1.8% in the 4th quarter. Fisher Asset Management LLC now owns 4,868,869 shares of the medical equipment provider's stock worth $2,541,356,000 after purchasing an additional 86,488 shares during the last quarter. Norges Bank bought a new stake in shares of Intuitive Surgical in the 4th quarter worth about $2,401,493,000. Finally, Invesco Ltd. grew its holdings in shares of Intuitive Surgical by 7.7% in the 4th quarter. Invesco Ltd. now owns 4,148,180 shares of the medical equipment provider's stock worth $2,165,184,000 after purchasing an additional 295,025 shares during the last quarter. Institutional investors own 83.64% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ISRG. Erste Group Bank lowered shares of Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a report on Monday, March 17th. Royal Bank of Canada reduced their price target on shares of Intuitive Surgical from $630.00 to $605.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Bernstein Bank upped their price target on shares of Intuitive Surgical from $655.00 to $700.00 and gave the stock an "overweight" rating in a research report on Monday, January 27th. Piper Sandler reduced their price target on shares of Intuitive Surgical from $670.00 to $575.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Finally, CICC Research initiated coverage on shares of Intuitive Surgical in a research report on Monday, January 27th. They set a "neutral" rating and a $550.00 price target on the stock. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Intuitive Surgical has an average rating of "Moderate Buy" and a consensus target price of $598.95.

Insider Buying and Selling

In related news, Director Jami K. Nachtsheim sold 2,400 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 6,371 shares of the company's stock, valued at approximately $3,312,920. This represents a 27.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert Desantis sold 188 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 5,224 shares of the company's stock, valued at approximately $2,695,113.84. The trade was a 3.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 33,044 shares of company stock valued at $17,070,433. 0.70% of the stock is owned by corporate insiders.

Intuitive Surgical Price Performance

Shares of NASDAQ:ISRG opened at $536.55 on Monday. The company has a market capitalization of $192.31 billion, a price-to-earnings ratio of 83.71, a P/E/G ratio of 5.85 and a beta of 1.70. The firm's 50 day simple moving average is $500.93 and its 200 day simple moving average is $535.03. Intuitive Surgical, Inc. has a fifty-two week low of $379.67 and a fifty-two week high of $616.00.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The medical equipment provider reported $1.81 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $2.19 billion. During the same period last year, the company posted $1.50 EPS. Equities research analysts expect that Intuitive Surgical, Inc. will post 6.43 earnings per share 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.

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