Clearbridge Investments LLC Sells 49,972 Shares of Intuitive Surgical, Inc. $ISRG

Clearbridge Investments LLC decreased its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 2.9% in the fourth quarter, HoldingsChannel reports. The firm owned 1,683,260 shares of the medical equipment provider’s stock after selling 49,972 shares during the quarter. Intuitive Surgical makes up 0.8% of Clearbridge Investments LLC’s investment portfolio, making the stock its 25th biggest position. Clearbridge Investments LLC’s holdings in Intuitive Surgical were worth $953,331,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Holos Integrated Wealth LLC bought a new position in Intuitive Surgical during the 4th quarter valued at approximately $25,000. Newbridge Financial Services Group Inc. raised its position in shares of Intuitive Surgical by 300.0% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 33 shares in the last quarter. Olistico Wealth LLC bought a new position in shares of Intuitive Surgical in the 4th quarter worth approximately $28,000. Caitlin John LLC bought a new position in shares of Intuitive Surgical in the 3rd quarter worth approximately $30,000. Finally, Laurel Wealth Advisors LLC bought a new position in shares of Intuitive Surgical in the 4th quarter worth approximately $31,000. Institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Stock Up 0.8%

ISRG stock opened at $422.06 on Friday. Intuitive Surgical, Inc. has a twelve month low of $396.68 and a twelve month high of $603.88. The firm has a market cap of $149.48 billion, a PE ratio of 51.16, a price-to-earnings-growth ratio of 3.37 and a beta of 1.46. The business has a 50 day moving average of $447.24 and a 200 day moving average of $501.02.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.42. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same quarter last year, the company earned $1.81 EPS. The firm’s revenue for the quarter was up 23.0% on a year-over-year basis. On average, research analysts expect that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current fiscal year.

Insider Activity at Intuitive Surgical

In other Intuitive Surgical news, EVP Myriam Curet sold 105 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $493.95, for a total transaction of $51,864.75. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Iman Jeddi sold 5,625 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $420.55, for a total value of $2,365,593.75. Following the sale, the senior vice president owned 6,463 shares in the company, valued at approximately $2,718,014.65. This represents a 46.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 7,448 shares of company stock worth $3,224,404 over the last quarter. 0.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Raymond James Financial decreased their target price on Intuitive Surgical from $615.00 to $577.00 and set an “outperform” rating for the company in a research report on Wednesday, April 22nd. Citigroup raised Intuitive Surgical from a “neutral” rating to a “buy” rating and set a $590.00 target price for the company in a research report on Wednesday, March 11th. Piper Sandler reissued an “overweight” rating and issued a $580.00 target price on shares of Intuitive Surgical in a research report on Tuesday. Bank of America decreased their target price on Intuitive Surgical from $650.00 to $520.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Finally, Barclays set a $651.00 target price on Intuitive Surgical and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. Nineteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $573.63.

Intuitive Surgical Profile

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.