Sterling Capital Management LLC Has $7.28 Million Holdings in Intuitive Surgical, Inc. $ISRG

Sterling Capital Management LLC cut its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 11.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,799 shares of the medical equipment provider’s stock after selling 2,127 shares during the period. Sterling Capital Management LLC’s holdings in Intuitive Surgical were worth $7,283,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Holos Integrated Wealth LLC bought a new position in Intuitive Surgical during the fourth quarter valued at approximately $25,000. Newbridge Financial Services Group Inc. grew its position in Intuitive Surgical by 300.0% in the fourth 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 acquired a new position in shares of Intuitive Surgical during the 4th quarter worth $28,000. Caitlin John LLC acquired a new position in shares of Intuitive Surgical during the 3rd quarter worth $30,000. Finally, Laurel Wealth Advisors LLC acquired a new position in shares of Intuitive Surgical during the 4th quarter worth $31,000. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Intuitive Surgical Trading Up 1.3%

Shares of NASDAQ:ISRG opened at $404.70 on Friday. The firm has a market capitalization of $143.33 billion, a PE ratio of 49.05, a PEG ratio of 3.29 and a beta of 1.46. Intuitive Surgical, Inc. has a 1-year low of $396.68 and a 1-year high of $603.88. The business’s 50 day moving average is $432.67 and its 200-day moving average is $484.61.

Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 EPS 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 business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same period in the prior year, the company posted $1.81 earnings per share. Intuitive Surgical’s revenue was up 23.0% on a year-over-year basis. On average, sell-side analysts predict that Intuitive Surgical, Inc. will post 8.57 EPS for the current year.

Wall Street Analysts Forecast Growth

ISRG has been the subject of several analyst reports. TD Cowen reduced their price objective on shares of Intuitive Surgical from $660.00 to $585.00 and set a “buy” rating for the company in a research note on Wednesday, April 22nd. Jefferies Financial Group lowered their target price on shares of Intuitive Surgical from $560.00 to $515.00 and set a “hold” rating on the stock in a research report on Wednesday, April 22nd. JPMorgan Chase & Co. cut their target price on Intuitive Surgical from $625.00 to $550.00 and set an “overweight” rating on the stock in a report on Wednesday, April 22nd. HSBC reduced their price target on Intuitive Surgical from $653.00 to $604.00 and set a “buy” rating for the company in a research report on Wednesday, April 22nd. Finally, Mizuho set a $525.00 price target on Intuitive Surgical and gave the stock a “neutral” rating in a research note on Monday, April 13th. Nineteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $573.42.

Insider Activity

In other news, Director Amy L. Ladd sold 500 shares of Intuitive Surgical stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $473.46, for a total transaction of $236,730.00. Following the sale, the director directly owned 239 shares in the company, valued at approximately $113,156.94. The trade was a 67.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Iman Jeddi sold 5,625 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $420.55, for a total transaction of $2,365,593.75. Following the completion of the sale, the senior vice president directly owned 6,463 shares in the company, valued at approximately $2,718,014.65. The trade was a 46.53% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 7,169 shares of company stock worth $3,059,135. 0.60% of the stock is currently owned by corporate insiders.

Intuitive Surgical Company 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.