Intuitive Surgical, Inc. $ISRG Shares Sold by Castleark Management LLC

Castleark Management LLC lessened its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 20.6% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 91,699 shares of the medical equipment provider’s stock after selling 23,726 shares during the quarter. Intuitive Surgical accounts for about 1.5% of Castleark Management LLC’s holdings, making the stock its 18th biggest position. Castleark Management LLC’s holdings in Intuitive Surgical were worth $49,830,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Intuitive Surgical in the 2nd quarter worth about $2,569,260,000. Vanguard Group Inc. lifted its stake in shares of Intuitive Surgical by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 33,335,833 shares of the medical equipment provider’s stock valued at $18,115,025,000 after purchasing an additional 670,302 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Intuitive Surgical by 20.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,393,951 shares of the medical equipment provider’s stock worth $1,680,922,000 after acquiring an additional 566,979 shares in the last quarter. Jennison Associates LLC grew its holdings in Intuitive Surgical by 20.4% during the second quarter. Jennison Associates LLC now owns 3,122,390 shares of the medical equipment provider’s stock valued at $1,696,738,000 after purchasing an additional 528,359 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in Intuitive Surgical by 15.0% in the 1st quarter. Wellington Management Group LLP now owns 3,499,052 shares of the medical equipment provider’s stock worth $1,732,975,000 after acquiring an additional 457,080 shares during the period. 83.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Henry L. Charlton sold 13,731 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $580.00, for a total value of $7,963,980.00. Following the sale, the executive vice president owned 3,056 shares of the company’s stock, valued at $1,772,480. The trade was a 81.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gary S. Guthart sold 22,806 shares of the stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $570.89, for a total transaction of $13,019,717.34. Following the transaction, the insider owned 2,694 shares of the company’s stock, valued at approximately $1,537,977.66. This represents a 89.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 109,043 shares of company stock valued at $60,816,225 over the last ninety days. Insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ISRG shares. Piper Sandler upped their price target on Intuitive Surgical from $595.00 to $610.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Zacks Research raised Intuitive Surgical from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 24th. The Goldman Sachs Group raised their price objective on shares of Intuitive Surgical from $567.00 to $621.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Evercore ISI upped their price target on shares of Intuitive Surgical from $450.00 to $540.00 in a research report on Wednesday, October 22nd. Finally, Citigroup cut Intuitive Surgical from a “buy” rating to a “neutral” rating and lowered their target price for the company from $650.00 to $635.00 in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $608.79.

Intuitive Surgical Price Performance

NASDAQ ISRG opened at $542.32 on Friday. Intuitive Surgical, Inc. has a one year low of $425.00 and a one year high of $616.00. The stock’s 50-day moving average is $529.62 and its 200-day moving average is $505.69. The firm has a market cap of $194.41 billion, a P/E ratio of 71.74, a P/E/G ratio of 4.98 and a beta of 1.68.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings data on Tuesday, October 21st. The medical equipment provider reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.41. The company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.41 billion. Intuitive Surgical had a net margin of 28.58% and a return on equity of 15.08%. The firm’s revenue was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.84 earnings per share. Equities analysts anticipate that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

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.