Sit Investment Associates Inc. Cuts Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Sit Investment Associates Inc. lowered its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 3.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,395 shares of the medical equipment provider’s stock after selling 551 shares during the quarter. Sit Investment Associates Inc.’s holdings in Intuitive Surgical were worth $9,079,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. M.E. Allison & CO. Inc. bought a new stake in Intuitive Surgical during the fourth quarter worth about $449,000. Seilern Investment Management Ltd purchased a new stake in Intuitive Surgical in the fourth quarter worth approximately $82,517,000. Sycomore Asset Management grew its position in Intuitive Surgical by 27.4% during the fourth quarter. Sycomore Asset Management now owns 18,945 shares of the medical equipment provider’s stock valued at $9,214,000 after acquiring an additional 4,079 shares during the last quarter. Exome Asset Management LLC raised its stake in shares of Intuitive Surgical by 16.8% during the third quarter. Exome Asset Management LLC now owns 7,427 shares of the medical equipment provider’s stock worth $3,649,000 after acquiring an additional 1,069 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in shares of Intuitive Surgical by 5.6% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,843 shares of the medical equipment provider’s stock worth $5,138,000 after acquiring an additional 525 shares during the last quarter. 83.64% of the stock is owned by institutional investors.

Insider Transactions at Intuitive Surgical

In related news, EVP Brian Edward Miller sold 8,900 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $485.07, for a total value of $4,317,123.00. Following the sale, the executive vice president now owns 5,758 shares in the company, valued at $2,793,033.06. This represents a 60.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Robert Desantis sold 11,545 shares of Intuitive Surgical stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $499.22, for a total value of $5,763,494.90. Following the transaction, the executive vice president now owns 5,224 shares of the company’s stock, valued at $2,607,925.28. The trade was a 68.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,754 shares of company stock valued at $17,691,621 in the last three months. 0.70% of the stock is currently owned by company insiders.

Intuitive Surgical Stock Down 8.7 %

Shares of ISRG stock opened at $451.58 on Friday. The business’s fifty day moving average is $545.18 and its 200 day moving average is $532.64. The stock has a market cap of $160.84 billion, a price-to-earnings ratio of 70.45, a PEG ratio of 5.85 and a beta of 1.55. Intuitive Surgical, Inc. has a twelve month low of $364.17 and a twelve month high of $616.00.

Analysts Set New Price Targets

ISRG has been the topic of a number of analyst reports. CICC Research started coverage on shares of Intuitive Surgical in a research report on Monday, January 27th. They issued a “neutral” rating and a $550.00 target price on the stock. Piper Sandler restated an “overweight” rating and set a $670.00 target price (up from $538.00) on shares of Intuitive Surgical in a report on Friday, January 24th. Robert W. Baird lowered their price objective on Intuitive Surgical from $707.00 to $600.00 and set an “outperform” rating for the company in a research report on Tuesday, March 18th. 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 report on Monday, January 27th. Finally, JPMorgan Chase & Co. upped their price target on shares of Intuitive Surgical from $575.00 to $675.00 and gave the company an “overweight” rating in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Intuitive Surgical has an average rating of “Moderate Buy” and a consensus target price of $611.86.

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.