Edgewood Management LLC Cuts Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Edgewood Management LLC trimmed its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 7.3% during the 4th quarter, HoldingsChannel reports. The firm owned 2,813,011 shares of the medical equipment provider’s stock after selling 220,953 shares during the quarter. Intuitive Surgical accounts for about 4.2% of Edgewood Management LLC’s investment portfolio, making the stock its 13th largest holding. Edgewood Management LLC’s holdings in Intuitive Surgical were worth $1,468,279,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ISRG. Howard Capital Management Group LLC boosted its position in shares of Intuitive Surgical by 4.5% during the 3rd quarter. Howard Capital Management Group LLC now owns 2,125 shares of the medical equipment provider’s stock valued at $1,044,000 after acquiring an additional 92 shares during the last quarter. Principal Financial Group Inc. raised its stake in Intuitive Surgical by 1.5% during the third quarter. Principal Financial Group Inc. now owns 602,393 shares of the medical equipment provider’s stock valued at $295,938,000 after purchasing an additional 9,194 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in Intuitive Surgical by 1.9% during the third quarter. Integrated Wealth Concepts LLC now owns 4,821 shares of the medical equipment provider’s stock valued at $2,369,000 after purchasing an additional 90 shares during the last quarter. Kovitz Investment Group Partners LLC grew its stake in shares of Intuitive Surgical by 247.7% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 7,451 shares of the medical equipment provider’s stock worth $3,660,000 after buying an additional 5,308 shares in the last quarter. Finally, Zacks Investment Management increased its holdings in shares of Intuitive Surgical by 3.2% in the 3rd quarter. Zacks Investment Management now owns 30,196 shares of the medical equipment provider’s stock worth $14,834,000 after buying an additional 928 shares during the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Intuitive Surgical

In related news, CFO Jamie Samath sold 269 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $590.00, for a total transaction of $158,710.00. Following the transaction, the chief financial officer now directly owns 3,282 shares in the company, valued at $1,936,380. The trade was a 7.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 value of $5,763,494.90. Following the transaction, the executive vice president now directly owns 5,224 shares in the company, valued at $2,607,925.28. This represents a 68.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,754 shares of company stock valued at $17,691,621 over the last 90 days. Insiders own 0.70% of the company’s stock.

Intuitive Surgical Stock Performance

ISRG stock opened at $451.58 on Friday. Intuitive Surgical, Inc. has a one year low of $364.17 and a one year high of $616.00. The firm has a market cap of $160.84 billion, a price-to-earnings ratio of 70.45, a PEG ratio of 5.85 and a beta of 1.55. The firm has a 50-day simple moving average of $545.18 and a two-hundred day simple moving average of $532.64.

Wall Street Analyst Weigh In

Several research analysts recently commented on ISRG shares. JPMorgan Chase & Co. lifted their price target on Intuitive Surgical from $575.00 to $675.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Wells Fargo & Company raised their price objective on Intuitive Surgical from $630.00 to $687.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Truist Financial cut their target price on Intuitive Surgical from $666.00 to $605.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. Piper Sandler restated an “overweight” rating and issued a $670.00 price target (up from $538.00) on shares of Intuitive Surgical in a research report on Friday, January 24th. Finally, Jefferies Financial Group lifted their price objective on shares of Intuitive Surgical from $475.00 to $575.00 in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $611.86.

Intuitive Surgical 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.