Oppenheimer & Co. Inc. cut its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 12.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,229 shares of the medical equipment provider’s stock after selling 768 shares during the period. Oppenheimer & Co. Inc.’s holdings in Intuitive Surgical were worth $2,502,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Adviser Investments LLC acquired a new stake in shares of Intuitive Surgical during the 2nd quarter worth approximately $115,000. McKinley Carter Wealth Services Inc. acquired a new stake in Intuitive Surgical in the 1st quarter valued at $132,000. Kaizen Advisory LLC grew its stake in Intuitive Surgical by 156.0% in the 2nd quarter. Kaizen Advisory LLC now owns 279 shares of the medical equipment provider’s stock valued at $133,000 after acquiring an additional 170 shares during the period. Psagot Investment House Ltd. acquired a new stake in Intuitive Surgical during the 2nd quarter worth $133,000. Finally, Rockefeller Capital Management L.P. acquired a new stake in Intuitive Surgical during the 2nd quarter worth $142,000. Hedge funds and other institutional investors own 84.78% of the company’s stock.
NASDAQ ISRG traded up $9.54 on Friday, reaching $568.36. The stock had a trading volume of 840,350 shares, compared to its average volume of 456,689. Intuitive Surgical, Inc. has a 12-month low of $337.80 and a 12-month high of $572.96. The stock has a market cap of $62.51 billion, a P/E ratio of 79.05, a P/E/G ratio of 4.02 and a beta of 0.86.
Several equities research analysts have issued reports on ISRG shares. Morgan Stanley lifted their target price on shares of Intuitive Surgical from $525.00 to $535.00 and gave the stock an “overweight” rating in a research note on Friday, June 1st. Zacks Investment Research lowered Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 19th. Sanford C. Bernstein initiated coverage on Intuitive Surgical in a report on Wednesday, June 27th. They set an “outperform” rating and a $560.00 price target on the stock. Bank of America lifted their price target on Intuitive Surgical from $510.00 to $600.00 and gave the stock a “buy” rating in a report on Tuesday, July 17th. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $620.00 price objective (up from $510.00) on shares of Intuitive Surgical in a report on Friday, July 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $520.08.
In other Intuitive Surgical news, COO Salvatore Brogna sold 2,652 shares of the stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $557.39, for a total value of $1,478,198.28. Following the completion of the transaction, the chief operating officer now owns 2,049 shares in the company, valued at $1,142,092.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Curet Myriam sold 712 shares of the stock in a transaction on Tuesday, July 24th. The stock was sold at an average price of $523.46, for a total value of $372,703.52. Following the completion of the transaction, the executive vice president now owns 31,141 shares of the company’s stock, valued at approximately $16,301,067.86. The disclosure for this sale can be found here. Insiders have sold 109,463 shares of company stock valued at $57,194,982 in the last 90 days. Company insiders own 2.20% of the company’s stock.
Intuitive Surgical Profile
Intuitive Surgical, Inc designs, manufactures, and markets da Vinci surgical systems, and related instruments and accessories. The company's da Vinci surgical System translates a surgeon's natural hand movements, which are performed on instrument controls at a console into corresponding micro-movements of instruments positioned inside the patient through small incisions or ports.
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