Balboa Wealth Partners Cuts Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Balboa Wealth Partners lowered its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 38.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,260 shares of the medical equipment provider’s stock after selling 775 shares during the quarter. Balboa Wealth Partners’ holdings in Intuitive Surgical were worth $657,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ISRG. M.E. Allison & CO. Inc. purchased a new stake in shares of Intuitive Surgical during the 4th quarter worth $449,000. Seilern Investment Management Ltd acquired a new stake in Intuitive Surgical in the fourth quarter valued at $82,517,000. Sycomore Asset Management raised its stake in Intuitive Surgical by 27.4% in the fourth quarter. Sycomore Asset Management now owns 18,945 shares of the medical equipment provider’s stock valued at $9,214,000 after buying an additional 4,079 shares in the last quarter. Exome Asset Management LLC lifted its holdings in Intuitive Surgical by 16.8% during the 3rd quarter. Exome Asset Management LLC now owns 7,427 shares of the medical equipment provider’s stock worth $3,649,000 after buying an additional 1,069 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of Intuitive Surgical by 5.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,843 shares of the medical equipment provider’s stock worth $5,138,000 after acquiring an additional 525 shares in the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.

Intuitive Surgical Trading Up 0.7 %

NASDAQ:ISRG opened at $497.30 on Thursday. Intuitive Surgical, Inc. has a 12-month low of $364.17 and a 12-month high of $616.00. The stock’s 50 day simple moving average is $569.42 and its 200-day simple moving average is $531.60. The firm has a market cap of $177.13 billion, a P/E ratio of 77.58, a PEG ratio of 5.85 and a beta of 1.43.

Wall Street Analysts Forecast Growth

ISRG has been the subject of several recent analyst reports. Jefferies Financial Group boosted their target price on Intuitive Surgical from $475.00 to $575.00 in a research note on Monday, January 27th. Wells Fargo & Company raised their price objective on shares of Intuitive Surgical from $630.00 to $687.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Barclays upped their target price on shares of Intuitive Surgical from $610.00 to $674.00 in a report on Monday, January 27th. JPMorgan Chase & Co. lifted their price target 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. Finally, Royal Bank of Canada boosted their price target on shares of Intuitive Surgical from $611.00 to $641.00 in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $613.10.

Insider Activity at Intuitive Surgical

In related news, SVP Mark Brosius sold 492 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $573.78, for a total value of $282,299.76. Following the completion of the sale, the senior vice president now owns 4,056 shares in the company, valued at $2,327,251.68. This trade represents a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Fredrik Widman sold 810 shares of Intuitive Surgical stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $573.78, for a total value of $464,761.80. Following the completion of the sale, the vice president now directly owns 473 shares in the company, valued at $271,397.94. This represents a 63.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,209 shares of company stock worth $11,928,127 in the last three months. Insiders own 0.90% of the company’s stock.

Intuitive Surgical Company 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.