Vestcor Inc Trims Stock Holdings in Intuitive Surgical, Inc. $ISRG

Vestcor Inc reduced its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 13.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,777 shares of the medical equipment provider’s stock after selling 1,225 shares during the quarter. Vestcor Inc’s holdings in Intuitive Surgical were worth $3,478,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in ISRG. SteelPeak Wealth LLC lifted its stake in shares of Intuitive Surgical by 28.7% in the 3rd quarter. SteelPeak Wealth LLC now owns 41,993 shares of the medical equipment provider’s stock valued at $18,781,000 after purchasing an additional 9,364 shares in the last quarter. Atlantic Union Bankshares Corp raised its holdings in Intuitive Surgical by 19.3% in the third quarter. Atlantic Union Bankshares Corp now owns 22,759 shares of the medical equipment provider’s stock valued at $10,179,000 after buying an additional 3,676 shares during the period. World Investment Advisors lifted its position in Intuitive Surgical by 238.3% during the third quarter. World Investment Advisors now owns 5,399 shares of the medical equipment provider’s stock valued at $2,415,000 after buying an additional 3,803 shares in the last quarter. E. Ohman J or Asset Management AB grew its stake in Intuitive Surgical by 4.1% during the third quarter. E. Ohman J or Asset Management AB now owns 28,306 shares of the medical equipment provider’s stock worth $12,659,000 after buying an additional 1,123 shares during the period. Finally, Valley Wealth Managers Inc. increased its position in shares of Intuitive Surgical by 52.7% in the third quarter. Valley Wealth Managers Inc. now owns 4,084 shares of the medical equipment provider’s stock worth $1,826,000 after acquiring an additional 1,409 shares in the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Intuitive Surgical

In related news, Director Gary S. Guthart sold 2,800 shares of the business’s stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $531.52, for a total transaction of $1,488,256.00. Following the transaction, the director owned 15,720 shares of the company’s stock, valued at approximately $8,355,494.40. The trade was a 15.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Fredrik Widman sold 133 shares of the company’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $494.96, for a total value of $65,829.68. Following the completion of the transaction, the vice president owned 660 shares of the company’s stock, valued at $326,673.60. The trade was a 16.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 37,802 shares of company stock worth $19,945,322. 0.70% of the stock is currently owned by company insiders.

Intuitive Surgical Trading Down 1.6%

ISRG stock opened at $485.85 on Wednesday. The firm has a 50-day moving average of $518.26 and a two-hundred day moving average of $512.74. Intuitive Surgical, Inc. has a one year low of $425.00 and a one year high of $603.88. The firm has a market capitalization of $172.54 billion, a PE ratio of 61.58, a P/E/G ratio of 3.81 and a beta of 1.66.

Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Thursday, January 22nd. The medical equipment provider reported $2.53 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.26. Intuitive Surgical had a return on equity of 15.06% and a net margin of 28.38%.The company had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.72 billion. During the same quarter in the prior year, the company earned $2.21 EPS. The firm’s quarterly revenue was up 18.8% on a year-over-year basis. On average, equities research analysts anticipate that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ISRG shares. Sanford C. Bernstein lifted their target price on shares of Intuitive Surgical from $740.00 to $750.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Truist Financial boosted their price objective on Intuitive Surgical from $620.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, December 18th. Piper Sandler reaffirmed an “overweight” rating and set a $620.00 price target (up from $610.00) on shares of Intuitive Surgical in a report on Friday, January 23rd. UBS Group set a $570.00 price target on shares of Intuitive Surgical and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. Finally, Argus cut their price objective on Intuitive Surgical from $630.00 to $560.00 and set a “buy” rating on the stock in a research note on Wednesday, February 4th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $615.86.

About Intuitive Surgical

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon’s hand movements into finer, scaled motions of small instruments inside the patient. Intuitive’s business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.