Cinctive Capital Management LP Acquires 6,917 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Cinctive Capital Management LP lifted its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 30.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 29,276 shares of the medical equipment provider’s stock after buying an additional 6,917 shares during the quarter. Intuitive Surgical makes up about 0.8% of Cinctive Capital Management LP’s holdings, making the stock its 23rd biggest holding. Cinctive Capital Management LP’s holdings in Intuitive Surgical were worth $15,281,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of ISRG. Atala Financial Inc bought a new position in shares of Intuitive Surgical during the fourth quarter valued at $25,000. Berbice Capital Management LLC bought a new stake in shares of Intuitive Surgical in the 4th quarter worth about $26,000. BankPlus Trust Department acquired a new stake in shares of Intuitive Surgical during the 4th quarter worth about $28,000. Summit Securities Group LLC bought a new position in Intuitive Surgical during the 4th quarter valued at about $30,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in Intuitive Surgical in the fourth quarter valued at about $31,000. Institutional investors own 83.64% of the company’s stock.

Insider Buying and Selling at Intuitive Surgical

In other news, EVP Robert Desantis sold 11,545 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $499.22, for a total transaction of $5,763,494.90. Following the transaction, the executive vice president now owns 5,224 shares in the company, valued at approximately $2,607,925.28. This trade represents a 68.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jamie Samath sold 94 shares of the business’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $571.11, for a total value of $53,684.34. Following the completion of the sale, the chief financial officer now owns 2,630 shares of the company’s stock, valued at $1,502,019.30. This trade represents a 3.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 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.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ISRG. Robert W. Baird cut their target price on shares of Intuitive Surgical from $707.00 to $600.00 and set an “outperform” rating for the company in a research note on Tuesday, March 18th. Truist Financial cut their price objective on Intuitive Surgical from $666.00 to $605.00 and set a “buy” rating for the company in a research report on Monday, March 17th. Leerink Partners raised their target price on Intuitive Surgical from $490.00 to $548.00 in a research note on Monday, January 27th. Barclays increased their price objective on shares of Intuitive Surgical from $610.00 to $674.00 in a report on Monday, January 27th. Finally, Erste Group Bank downgraded shares of Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $611.86.

Intuitive Surgical Stock Performance

NASDAQ ISRG opened at $496.36 on Wednesday. The stock has a market cap of $176.79 billion, a PE ratio of 77.44, a P/E/G ratio of 5.85 and a beta of 1.43. The firm has a 50-day moving average of $552.17 and a 200-day moving average of $533.02. Intuitive Surgical, Inc. has a 52-week low of $364.17 and a 52-week high of $616.00.

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.