Rench Wealth Management Inc. Acquires 650 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Rench Wealth Management Inc. raised its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 4.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,546 shares of the medical equipment provider’s stock after buying an additional 650 shares during the quarter. Intuitive Surgical comprises approximately 2.6% of Rench Wealth Management Inc.’s investment portfolio, making the stock its 12th biggest holding. Rench Wealth Management Inc.’s holdings in Intuitive Surgical were worth $7,592,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ISRG. Atala Financial Inc bought a new stake in Intuitive Surgical in the 4th quarter valued at approximately $25,000. Berbice Capital Management LLC bought a new stake in shares of Intuitive Surgical in the fourth quarter worth $26,000. BankPlus Trust Department acquired a new position in Intuitive Surgical during the fourth quarter worth $28,000. Hurley Capital LLC bought a new position in Intuitive Surgical in the fourth quarter valued at $28,000. Finally, Summit Securities Group LLC acquired a new stake in Intuitive Surgical in the 4th quarter valued at $30,000. Institutional investors and hedge funds own 83.64% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on ISRG shares. JPMorgan Chase & Co. increased their price objective on shares of Intuitive Surgical from $575.00 to $675.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Erste Group Bank cut Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 17th. Piper Sandler reaffirmed an “overweight” rating and set a $670.00 price target (up previously from $538.00) on shares of Intuitive Surgical in a research report on Friday, January 24th. Citigroup increased their price objective on Intuitive Surgical from $640.00 to $711.00 and gave the company a “buy” rating in a report on Friday, January 24th. Finally, Royal Bank of Canada boosted their target price on shares of Intuitive Surgical from $611.00 to $641.00 in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $611.86.

Insiders Place Their Bets

In other Intuitive Surgical news, CFO Jamie Samath sold 94 shares of the business’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $571.11, for a total value of $53,684.34. Following the completion of the sale, the chief financial officer now owns 2,630 shares of the company’s stock, valued at $1,502,019.30. The trade was a 3.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Fredrik Widman sold 810 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $573.78, for a total transaction of $464,761.80. Following the transaction, the vice president now directly owns 473 shares in the company, valued at $271,397.94. This represents a 63.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,754 shares of company stock worth $17,691,621 in the last 90 days. Company insiders own 0.70% of the company’s stock.

Intuitive Surgical Trading Down 0.7 %

NASDAQ:ISRG opened at $490.13 on Tuesday. The stock has a 50 day simple moving average of $530.71 and a 200 day simple moving average of $532.76. The stock has a market cap of $174.57 billion, a P/E ratio of 76.46, a PEG ratio of 5.85 and a beta of 1.55. Intuitive Surgical, Inc. has a 1-year low of $364.17 and a 1-year high of $616.00.

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.