Canal Capital Management LLC Lowers Stake in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Canal Capital Management LLC reduced its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 2.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,330 shares of the medical equipment provider’s stock after selling 213 shares during the quarter. Canal Capital Management LLC’s holdings in Intuitive Surgical were worth $4,348,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in 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 worth $16,813,478,000 after purchasing an additional 360,591 shares in the last quarter. Geode Capital Management LLC lifted its position in Intuitive Surgical by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 7,756,727 shares of the medical equipment provider’s stock worth $4,039,200,000 after acquiring an additional 243,802 shares during the period. Fisher Asset Management LLC increased its holdings 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 worth $2,541,356,000 after buying an additional 86,488 shares during the period. Norges Bank purchased a new position in shares of Intuitive Surgical during the fourth quarter worth $2,401,493,000. Finally, Invesco Ltd. lifted its holdings in shares of Intuitive Surgical by 7.7% in the 4th quarter. Invesco Ltd. now owns 4,148,180 shares of the medical equipment provider’s stock valued at $2,165,184,000 after buying an additional 295,025 shares during the period. Institutional investors own 83.64% of the company’s stock.

Analyst Ratings Changes

ISRG has been the topic of several analyst reports. 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. Barclays boosted their price target on shares of Intuitive Surgical from $610.00 to $674.00 in a report on Monday, January 27th. UBS Group lifted their target price on shares of Intuitive Surgical from $500.00 to $560.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Bernstein Bank raised their price target on shares of Intuitive Surgical from $655.00 to $700.00 and gave the company an “overweight” rating in a research note on Monday, January 27th. Finally, Erste Group Bank lowered Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Intuitive Surgical currently has a consensus rating of “Moderate Buy” and an average price target of $611.81.

Intuitive Surgical Stock Performance

ISRG opened at $482.74 on Monday. The business’s 50-day simple moving average is $522.23 and its 200-day simple moving average is $532.71. The company has a market cap of $171.94 billion, a P/E ratio of 75.31, a PEG ratio of 5.85 and a beta of 1.55. Intuitive Surgical, Inc. has a one year low of $364.31 and a one year high of $616.00.

Insiders Place Their Bets

In other Intuitive Surgical news, VP Fredrik Widman sold 810 shares of the company’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 completion of the sale, the vice president now directly owns 473 shares of the company’s stock, valued at $271,397.94. This represents a 63.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert Desantis sold 11,545 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $499.22, for a total value of $5,763,494.90. Following the sale, the executive vice president now directly owns 5,224 shares of the company’s stock, valued at approximately $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. Over the last quarter, insiders have sold 33,754 shares of company stock valued at $17,691,621. 0.70% of the stock is owned by corporate insiders.

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.