Lord Abbett & CO. LLC Sells 39,779 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Lord Abbett & CO. LLC cut its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 12.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 282,459 shares of the medical equipment provider's stock after selling 39,779 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.08% of Intuitive Surgical worth $147,432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Bennett Selby Investments LP boosted its stake in Intuitive Surgical by 3.9% during the fourth quarter. Bennett Selby Investments LP now owns 449 shares of the medical equipment provider's stock worth $234,000 after acquiring an additional 17 shares in the last quarter. Onefund LLC lifted its position in Intuitive Surgical by 1.9% during the fourth quarter. Onefund LLC now owns 947 shares of the medical equipment provider's stock valued at $494,000 after purchasing an additional 18 shares in the last quarter. LVW Advisors LLC lifted its position in shares of Intuitive Surgical by 1.3% during the 4th quarter. LVW Advisors LLC now owns 1,448 shares of the medical equipment provider's stock valued at $756,000 after buying an additional 19 shares in the last quarter. Wesbanco Bank Inc. grew its stake in shares of Intuitive Surgical by 1.6% during the 4th quarter. Wesbanco Bank Inc. now owns 1,216 shares of the medical equipment provider's stock valued at $635,000 after acquiring an additional 19 shares during the period. Finally, Journey Strategic Wealth LLC raised its stake in Intuitive Surgical by 1.9% during the 4th quarter. Journey Strategic Wealth LLC now owns 1,039 shares of the medical equipment provider's stock worth $542,000 after acquiring an additional 19 shares during the period. Hedge funds and other institutional investors own 83.64% of the company's stock.

Insider Activity at Intuitive Surgical

In other news, EVP Robert Desantis sold 11,545 shares of the business's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $499.22, for a total value of $5,763,494.90. Following the completion of the sale, the executive vice president now owns 5,224 shares in the company, valued at approximately $2,607,925.28. The trade was a 68.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jamie Samath sold 188 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $566.94, for a total transaction of $106,584.72. Following the transaction, the chief financial officer now owns 7,162 shares in the company, valued at approximately $4,060,424.28. This represents a 2.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,913 shares of company stock worth $15,981,143 over the last three months. 0.70% of the stock is owned by corporate insiders.

Intuitive Surgical Stock Down 1.1 %

ISRG traded down $5.87 on Wednesday, reaching $509.02. 482,407 shares of the company traded hands, compared to its average volume of 1,613,066. The company has a market cap of $182.44 billion, a P/E ratio of 79.41, a price-to-earnings-growth ratio of 5.85 and a beta of 1.55. The firm has a fifty day simple moving average of $508.20 and a two-hundred day simple moving average of $533.13. Intuitive Surgical, Inc. has a one year low of $367.39 and a one year high of $616.00.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The medical equipment provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.10. The company had revenue of $2.25 billion for the quarter, compared to analysts' expectations of $2.19 billion. Intuitive Surgical had a return on equity of 14.55% and a net margin of 27.81%. During the same quarter in the prior year, the firm earned $1.50 earnings per share. On average, equities analysts forecast that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on ISRG shares. Barclays lowered their target price on shares of Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Piper Sandler cut their target price on shares of Intuitive Surgical from $670.00 to $575.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. CICC Research assumed coverage on shares of Intuitive Surgical in a research note on Monday, January 27th. They issued a "neutral" rating and a $550.00 price target on the stock. Bernstein Bank raised their price objective on Intuitive Surgical from $655.00 to $700.00 and gave the company an "overweight" rating in a research report on Monday, January 27th. Finally, JPMorgan Chase & Co. boosted their target price on Intuitive Surgical from $575.00 to $675.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus 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.