Sit Investment Associates Inc. Sells 551 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Sit Investment Associates Inc. cut its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 3.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 17,395 shares of the medical equipment provider’s stock after selling 551 shares during the period. Sit Investment Associates Inc.’s holdings in Intuitive Surgical were worth $9,079,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. M.E. Allison & CO. Inc. bought a new position in shares of Intuitive Surgical during the fourth quarter valued at $449,000. Seilern Investment Management Ltd purchased a new position in Intuitive Surgical in the 4th quarter worth about $82,517,000. Sycomore Asset Management lifted its stake in Intuitive Surgical by 27.4% during the 4th 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 period. Exome Asset Management LLC boosted its holdings in shares of Intuitive Surgical by 16.8% during the 3rd quarter. Exome Asset Management LLC now owns 7,427 shares of the medical equipment provider’s stock valued at $3,649,000 after acquiring an additional 1,069 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its stake in shares of Intuitive Surgical by 5.6% in the fourth 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 period. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Intuitive Surgical Trading Down 8.7 %

Shares of ISRG opened at $451.58 on Friday. The business’s 50 day moving average is $545.18 and its 200 day moving average is $532.64. Intuitive Surgical, Inc. has a 12-month low of $364.17 and a 12-month high of $616.00. The company has a market capitalization of $160.84 billion, a PE ratio of 70.45, a price-to-earnings-growth ratio of 5.85 and a beta of 1.55.

Insider Activity

In other news, Director Amal M. Johnson sold 4,635 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $566.60, for a total transaction of $2,626,191.00. Following the completion of the transaction, the director now owns 12,275 shares in the company, valued at $6,955,015. This trade represents a 27.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Robert Desantis sold 11,545 shares of Intuitive Surgical stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $499.22, for a total value of $5,763,494.90. Following the completion of the sale, the executive vice president now directly owns 5,224 shares in the company, valued at $2,607,925.28. This trade represents a 68.85 % 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 worth $17,691,621 over the last quarter. Insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ISRG. 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. 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 report on Monday, March 17th. Wells Fargo & Company increased their target price on Intuitive Surgical from $630.00 to $687.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Citigroup boosted their price target on Intuitive Surgical from $640.00 to $711.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Finally, Jefferies Financial Group increased their price objective on shares of Intuitive Surgical from $475.00 to $575.00 in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $611.86.

Intuitive Surgical Company 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.