Intuitive Surgical, Inc. (NASDAQ:ISRG) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC decreased its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 6.1% during the first quarter, Holdings Channel reports. The firm owned 102,911 shares of the medical equipment provider’s stock after selling 6,643 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Intuitive Surgical were worth $50,969,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised 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 valued at $16,813,478,000 after buying an additional 360,591 shares during the period. Geode Capital Management LLC grew its position in 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 valued at $4,039,200,000 after acquiring an additional 243,802 shares in the last quarter. Fisher Asset Management LLC grew its position in 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 valued at $2,541,356,000 after acquiring an additional 86,488 shares in the last quarter. Norges Bank purchased a new stake in Intuitive Surgical during the fourth quarter worth about $2,401,493,000. Finally, Invesco Ltd. lifted its position in shares of Intuitive Surgical by 7.7% during the fourth 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 in the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on ISRG shares. Truist Financial lowered their price objective on shares of Intuitive Surgical from $605.00 to $590.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. BTIG Research set a $560.00 price target on shares of Intuitive Surgical and gave the company a “buy” rating in a research report on Monday, April 14th. Citigroup restated a “buy” rating and issued a $650.00 price target (up previously from $590.00) on shares of Intuitive Surgical in a research note on Thursday, May 22nd. Piper Sandler reduced their price objective on Intuitive Surgical from $670.00 to $575.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Finally, Erste Group Bank upgraded Intuitive Surgical from a “hold” rating to a “buy” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $596.05.

Intuitive Surgical Stock Performance

Shares of NASDAQ ISRG opened at $557.08 on Friday. The firm has a market capitalization of $199.67 billion, a PE ratio of 86.91, a price-to-earnings-growth ratio of 5.85 and a beta of 1.67. Intuitive Surgical, Inc. has a fifty-two week low of $413.52 and a fifty-two week high of $616.00. The stock’s 50-day simple moving average is $521.99 and its 200-day simple moving average is $539.26.

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

Insider Activity at Intuitive Surgical

In other Intuitive Surgical news, EVP Brian Edward Miller sold 8,900 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $485.07, for a total transaction of $4,317,123.00. Following the transaction, the executive vice president now directly owns 5,758 shares of the company’s stock, valued at approximately $2,793,033.06. This trade represents a 60.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Robert Desantis sold 11,545 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $499.22, for a total transaction of $5,763,494.90. Following the completion of the sale, the executive vice president now directly owns 5,224 shares of the company’s stock, valued at $2,607,925.28. The trade was a 68.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,443 shares of company stock valued at $12,692,195 in the last three months. 0.70% of the stock is currently owned by company insiders.

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.