Cresset Asset Management LLC Reduces Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Cresset Asset Management LLC reduced its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 77.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,805 shares of the medical equipment provider's stock after selling 30,983 shares during the quarter. Cresset Asset Management LLC's holdings in Intuitive Surgical were worth $4,596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in ISRG. Principal Financial Group Inc. boosted its position in Intuitive Surgical by 1.5% during the third quarter. Principal Financial Group Inc. now owns 602,393 shares of the medical equipment provider's stock valued at $295,938,000 after buying an additional 9,194 shares during the period. World Investment Advisors LLC bought a new position in Intuitive Surgical during the 3rd quarter worth approximately $228,000. Nordea Investment Management AB increased its stake in Intuitive Surgical by 31.7% in the 4th quarter. Nordea Investment Management AB now owns 43,200 shares of the medical equipment provider's stock worth $22,632,000 after purchasing an additional 10,405 shares during the period. Fulton Bank N.A. lifted its position in Intuitive Surgical by 23.1% in the fourth quarter. Fulton Bank N.A. now owns 3,778 shares of the medical equipment provider's stock valued at $1,972,000 after purchasing an additional 708 shares during the last quarter. Finally, Private Client Services LLC purchased a new stake in shares of Intuitive Surgical during the fourth quarter valued at approximately $210,000. 83.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on ISRG shares. Leerink Partners upped their price target on shares of Intuitive Surgical from $490.00 to $548.00 in a report on Monday, January 27th. JPMorgan Chase & Co. upped their price objective on shares of Intuitive Surgical from $575.00 to $675.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Erste Group Bank cut Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 17th. Jefferies Financial Group upped their price target on Intuitive Surgical from $475.00 to $575.00 in a research report on Monday, January 27th. Finally, Robert W. Baird cut their price objective on Intuitive Surgical from $600.00 to $575.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $598.95.

Intuitive Surgical Price Performance

ISRG stock traded up $24.92 during trading on Monday, hitting $561.43. 2,036,477 shares of the stock traded hands, compared to its average volume of 1,633,304. The stock has a market cap of $201.23 billion, a price-to-earnings ratio of 87.59, a price-to-earnings-growth ratio of 5.85 and a beta of 1.70. Intuitive Surgical, Inc. has a 1 year low of $379.67 and a 1 year high of $616.00. The firm's 50 day moving average is $500.93 and its two-hundred day moving average is $535.03.

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 the consensus estimate of $1.71 by $0.10. The company had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.19 billion. Intuitive Surgical had a net margin of 27.81% and a return on equity of 14.55%. During the same quarter last year, the firm earned $1.50 earnings per share. As a group, analysts anticipate that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

Insider Transactions at Intuitive Surgical

In related news, Director Jami K. Nachtsheim sold 2,400 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $520.00, for a total transaction of $1,248,000.00. Following the transaction, the director now owns 6,371 shares in the company, valued at $3,312,920. This represents a 27.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jamie Samath sold 188 shares of Intuitive Surgical stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $566.94, for a total transaction of $106,584.72. Following the completion of the sale, the chief financial officer now directly owns 7,162 shares of the company's stock, valued at approximately $4,060,424.28. This trade represents a 2.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,044 shares of company stock worth $17,070,433 over the last quarter. 0.70% of the stock is currently owned by 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.