AlTi Global Inc. Sells 276 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

AlTi Global Inc. cut its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 32.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 565 shares of the medical equipment provider’s stock after selling 276 shares during the quarter. AlTi Global Inc.’s holdings in Intuitive Surgical were worth $251,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ISRG. Capital Research Global Investors bought a new position in Intuitive Surgical during the first quarter valued at approximately $374,390,000. Coatue Management LLC lifted its holdings in shares of Intuitive Surgical by 65.7% during the 4th quarter. Coatue Management LLC now owns 1,301,595 shares of the medical equipment provider’s stock valued at $439,106,000 after buying an additional 516,054 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Intuitive Surgical by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 30,868,620 shares of the medical equipment provider’s stock valued at $12,319,358,000 after buying an additional 493,126 shares during the period. Edgewood Management LLC grew its holdings in shares of Intuitive Surgical by 7.9% in the fourth quarter. Edgewood Management LLC now owns 5,131,066 shares of the medical equipment provider’s stock worth $1,731,016,000 after acquiring an additional 374,667 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Intuitive Surgical by 51.2% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 893,341 shares of the medical equipment provider’s stock valued at $356,524,000 after acquiring an additional 302,382 shares during the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Intuitive Surgical Price Performance

Intuitive Surgical stock opened at $486.33 on Friday. Intuitive Surgical, Inc. has a 1 year low of $254.85 and a 1 year high of $496.18. The firm’s 50 day moving average price is $471.14 and its 200-day moving average price is $427.11. The stock has a market cap of $172.82 billion, a P/E ratio of 87.79, a PEG ratio of 5.39 and a beta of 1.39.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings results on Thursday, July 18th. The medical equipment provider reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.24. Intuitive Surgical had a net margin of 27.65% and a return on equity of 13.04%. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the previous year, the firm posted $1.18 EPS. Intuitive Surgical’s revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, equities analysts expect that Intuitive Surgical, Inc. will post 5.22 EPS for the current year.

Analysts Set New Price Targets

ISRG has been the topic of several research reports. Barclays raised their target price on Intuitive Surgical from $430.00 to $490.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. Citigroup boosted their target price on shares of Intuitive Surgical from $512.00 to $560.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Piper Sandler increased their price target on shares of Intuitive Surgical from $490.00 to $495.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Redburn Atlantic raised shares of Intuitive Surgical from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $380.00 to $510.00 in a research report on Friday, August 2nd. Finally, Morgan Stanley raised their target price on Intuitive Surgical from $375.00 to $460.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $446.45.

Insider Transactions at Intuitive Surgical

In related news, Director Craig H. Barratt sold 1,400 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $458.13, for a total transaction of $641,382.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Amal M. Johnson sold 2,943 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $443.30, for a total value of $1,304,631.90. Following the sale, the director now owns 12,275 shares in the company, valued at $5,441,507.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Craig H. Barratt sold 1,400 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $458.13, for a total transaction of $641,382.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,120 shares of company stock valued at $25,528,753. 0.90% of the stock is currently owned by insiders.

Intuitive Surgical 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.