Advisors Capital Management LLC Grows Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Advisors Capital Management LLC lifted its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 6.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,912 shares of the medical equipment provider’s stock after acquiring an additional 165 shares during the quarter. Advisors Capital Management LLC’s holdings in Intuitive Surgical were worth $1,520,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of ISRG. Atala Financial Inc purchased a new stake in Intuitive Surgical in the 4th quarter worth $25,000. Berbice Capital Management LLC acquired a new position in shares of Intuitive Surgical during the 4th quarter worth about $26,000. BankPlus Trust Department purchased a new position in Intuitive Surgical in the 4th quarter valued at about $28,000. Hurley Capital LLC acquired a new stake in Intuitive Surgical in the 4th quarter worth about $28,000. Finally, Summit Securities Group LLC purchased a new stake in Intuitive Surgical during the 4th quarter worth approximately $30,000. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ISRG has been the topic of a number of research analyst reports. Robert W. Baird lowered their price target on Intuitive Surgical from $707.00 to $600.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 18th. CICC Research started coverage on shares of Intuitive Surgical in a research note on Monday, January 27th. They set a “neutral” rating and a $550.00 target price on the stock. Leerink Partners increased their target price on shares of Intuitive Surgical from $490.00 to $548.00 in a research report on Monday, January 27th. Wells Fargo & Company boosted their price target on shares of Intuitive Surgical from $630.00 to $687.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, UBS Group raised their target price on shares of Intuitive Surgical from $500.00 to $560.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. One 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’s stock. According to MarketBeat.com, Intuitive Surgical currently has an average rating of “Moderate Buy” and an average target price of $611.86.

Intuitive Surgical Stock Performance

Shares of ISRG stock opened at $490.13 on Tuesday. Intuitive Surgical, Inc. has a one year low of $364.17 and a one year high of $616.00. The firm’s 50 day moving average price is $530.71 and its 200-day moving average price is $532.76. The firm has a market cap of $174.57 billion, a P/E ratio of 76.46, a P/E/G ratio of 5.85 and a beta of 1.55.

Insiders Place Their Bets

In related news, EVP Robert Desantis sold 11,545 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $499.22, for a total transaction of $5,763,494.90. Following the transaction, the executive vice president now owns 5,224 shares of the company’s stock, valued at approximately $2,607,925.28. This represents a 68.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jamie Samath sold 269 shares of Intuitive Surgical stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $590.00, for a total value of $158,710.00. Following the completion of the transaction, the chief financial officer now directly owns 3,282 shares of the company’s stock, valued at approximately $1,936,380. This represents a 7.58 % 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 over the last ninety days. Corporate insiders own 0.70% of the company’s stock.

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.