Cercano Management LLC Lowers Stake in Intuitive Surgical, Inc. $ISRG

Cercano Management LLC trimmed its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 65.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 9,235 shares of the medical equipment provider’s stock after selling 17,599 shares during the quarter. Cercano Management LLC’s holdings in Intuitive Surgical were worth $4,130,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Intuitive Surgical in the 2nd quarter valued at approximately $2,569,260,000. Rakuten Investment Management Inc. acquired a new stake in shares of Intuitive Surgical during the third quarter worth $388,436,000. Vanguard Group Inc. grew its position in 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 buying an additional 670,302 shares during the last quarter. Jennison Associates LLC increased its stake in Intuitive Surgical by 20.4% in the 2nd quarter. Jennison Associates LLC now owns 3,122,390 shares of the medical equipment provider’s stock valued at $1,696,738,000 after buying an additional 528,359 shares during the period. Finally, Bessemer Group Inc. raised its position in Intuitive Surgical by 89.3% during the 2nd quarter. Bessemer Group Inc. now owns 788,328 shares of the medical equipment provider’s stock worth $428,386,000 after buying an additional 371,806 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Insider Buying and Selling

In other Intuitive Surgical news, VP Fredrik Widman sold 133 shares of the firm’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $494.96, for a total transaction of $65,829.68. Following the completion of the transaction, the vice president owned 660 shares of the company’s stock, valued at approximately $326,673.60. This trade represents a 16.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Myriam Curet sold 421 shares of the business’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $494.96, for a total value of $208,378.16. Following the completion of the transaction, the executive vice president directly owned 409 shares of the company’s stock, valued at approximately $202,438.64. This trade represents a 50.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 56,189 shares of company stock worth $30,785,441 in the last quarter. Corporate insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Daiwa Securities Group lifted their target price on shares of Intuitive Surgical from $510.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, October 24th. Evercore lowered their price objective on Intuitive Surgical from $580.00 to $550.00 and set an “in-line” rating on the stock in a report on Friday, January 23rd. Royal Bank Of Canada increased their target price on Intuitive Surgical from $625.00 to $650.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. Truist Financial lifted their price target on Intuitive Surgical from $620.00 to $650.00 and gave the company a “buy” rating in a research note on Thursday, December 18th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Intuitive Surgical in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $617.23.

Intuitive Surgical Trading Up 1.5%

Shares of NASDAQ ISRG opened at $493.35 on Wednesday. The company’s 50-day moving average price is $538.70 and its 200 day moving average price is $510.51. Intuitive Surgical, Inc. has a 52 week low of $425.00 and a 52 week high of $609.08. The stock has a market cap of $175.20 billion, a price-to-earnings ratio of 62.53, a PEG ratio of 3.76 and a beta of 1.65.

Intuitive Surgical (NASDAQ:ISRG) last announced its earnings results on Thursday, January 22nd. The medical equipment provider reported $2.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.26. The company had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.72 billion. Intuitive Surgical had a net margin of 28.38% and a return on equity of 15.06%. The firm’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.21 earnings per share. As a group, research analysts expect that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Intuitive Surgical Company Profile

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon’s hand movements into finer, scaled motions of small instruments inside the patient. Intuitive’s business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.