Lazard Asset Management LLC Cuts Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Lazard Asset Management LLC decreased its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 0.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 687,831 shares of the medical equipment provider's stock after selling 792 shares during the quarter. Lazard Asset Management LLC owned approximately 0.19% of Intuitive Surgical worth $359,019,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. M.E. Allison & CO. Inc. purchased a new stake in Intuitive Surgical in the fourth quarter worth about $449,000. Seilern Investment Management Ltd purchased a new stake in shares of Intuitive Surgical during the fourth quarter worth about $82,517,000. Sycomore Asset Management grew its position in shares of Intuitive Surgical by 27.4% during the fourth quarter. Sycomore Asset Management now owns 18,945 shares of the medical equipment provider's stock worth $9,214,000 after purchasing an additional 4,079 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of Intuitive Surgical by 5.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,843 shares of the medical equipment provider's stock worth $5,138,000 after purchasing an additional 525 shares in the last quarter. Finally, Czech National Bank grew its position in shares of Intuitive Surgical by 6.9% during the fourth quarter. Czech National Bank now owns 77,227 shares of the medical equipment provider's stock worth $40,309,000 after purchasing an additional 4,970 shares in the last quarter. Hedge funds and other institutional investors own 83.64% of the company's stock.

Intuitive Surgical Trading Up 0.6%

Shares of ISRG stock traded up $3.32 on Friday, reaching $563.60. 1,393,551 shares of the company's stock were exchanged, compared to its average volume of 1,638,600. Intuitive Surgical, Inc. has a 52 week low of $393.98 and a 52 week high of $616.00. The stock has a market capitalization of $202.00 billion, a PE ratio of 87.93, a P/E/G ratio of 5.85 and a beta of 1.70. The company's fifty day simple moving average is $503.82 and its 200 day simple moving average is $536.13.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The medical equipment provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.71 by $0.10. Intuitive Surgical had a return on equity of 14.55% and a net margin of 27.81%. The firm had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same period last year, the company earned $1.50 EPS. As a group, sell-side analysts predict that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on ISRG shares. Barclays cut their target price 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. CICC Research started coverage on Intuitive Surgical in a research report on Monday, January 27th. They set a "neutral" rating and a $550.00 target price for the company. Bernstein Bank increased their target price on Intuitive Surgical from $655.00 to $700.00 and gave the stock an "overweight" rating in a research report on Monday, January 27th. Wells Fargo & Company increased their target price on Intuitive Surgical from $630.00 to $687.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Finally, BTIG Research set a $560.00 price target on Intuitive Surgical and gave the company a "buy" rating in a report on Monday, April 14th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $598.95.

Insider Buying and Selling

In other Intuitive Surgical news, EVP Brian Edward Miller sold 8,900 shares of Intuitive Surgical stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $485.07, for a total transaction of $4,317,123.00. Following the completion of the sale, the executive vice president now directly owns 5,758 shares of the company's stock, valued at $2,793,033.06. The trade was a 60.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Robert Desantis sold 11,545 shares of Intuitive Surgical stock in a transaction on 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 sale, the executive vice president now directly owns 5,224 shares of the company's stock, valued at approximately $2,607,925.28. This trade represents a 68.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 32,680 shares of company stock valued at $16,854,345. Insiders own 0.70% of the company's stock.

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.