Fred Alger Management LLC Lowers Stock Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Fred Alger Management LLC lowered its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 5.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 350,450 shares of the medical equipment provider's stock after selling 18,791 shares during the quarter. Intuitive Surgical comprises 0.9% of Fred Alger Management LLC's holdings, making the stock its 20th biggest position. Fred Alger Management LLC owned 0.10% of Intuitive Surgical worth $182,921,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. M.E. Allison & CO. Inc. acquired a new position in Intuitive Surgical during the fourth quarter valued at approximately $449,000. Seilern Investment Management Ltd acquired a new position in shares of Intuitive Surgical in the fourth quarter valued at approximately $82,517,000. Sycomore Asset Management raised its holdings in Intuitive Surgical by 27.4% in the 4th quarter. Sycomore Asset Management now owns 18,945 shares of the medical equipment provider's stock valued at $9,214,000 after buying an additional 4,079 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its position in Intuitive Surgical by 5.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,843 shares of the medical equipment provider's stock worth $5,138,000 after buying an additional 525 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Intuitive Surgical by 73.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 270,029 shares of the medical equipment provider's stock worth $132,657,000 after acquiring an additional 114,149 shares during the last quarter. Institutional investors own 83.64% of the company's stock.

Insider Activity at Intuitive Surgical

In other news, 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 completion of the transaction, the director now owns 6,371 shares in the company, valued at approximately $3,312,920. This represents a 27.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jamie Samath sold 269 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $590.00, for a total transaction of $158,710.00. Following the transaction, the chief financial officer now owns 3,282 shares of the company's stock, valued at $1,936,380. This represents a 7.58 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,313 shares of company stock worth $17,229,143. 0.70% of the stock is owned by company insiders.

Intuitive Surgical Trading Down 0.3 %

NASDAQ ISRG traded down $1.61 during trading hours on Friday, hitting $536.55. The company's stock had a trading volume of 925,598 shares, compared to its average volume of 1,631,682. The company has a market capitalization of $192.31 billion, a PE ratio of 83.71, a price-to-earnings-growth ratio of 5.85 and a beta of 1.70. Intuitive Surgical, Inc. has a 52 week low of $379.67 and a 52 week high of $616.00. The company's 50-day simple moving average is $500.93 and its two-hundred day simple moving average is $534.86.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released 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. The company had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.19 billion. Intuitive Surgical had a net margin of 27.81% and a return on equity of 14.55%. During the same period last year, the firm earned $1.50 earnings per share. Research analysts anticipate that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ISRG shares. Wells Fargo & Company lifted their price target on shares of Intuitive Surgical from $630.00 to $687.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. JPMorgan Chase & Co. upped their price target on Intuitive Surgical from $575.00 to $675.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. Bernstein Bank raised their price objective on Intuitive Surgical from $655.00 to $700.00 and gave the stock an "overweight" rating in a research report on Monday, January 27th. Erste Group Bank cut Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a report on Monday, March 17th. Finally, Royal Bank of Canada lowered their price target on shares of Intuitive Surgical from $630.00 to $605.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Intuitive Surgical currently has an average rating of "Moderate Buy" and an average price target of $598.95.

Intuitive Surgical Company Profile

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.