State of Michigan Retirement System Decreases Stake in Intuitive Surgical, Inc. (NASDAQ:ISRG)

State of Michigan Retirement System reduced its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 9.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 197,053 shares of the medical equipment provider’s stock after selling 19,800 shares during the period. State of Michigan Retirement System owned approximately 0.06% of Intuitive Surgical worth $78,642,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in ISRG. Cullinan Associates Inc. boosted its position in shares of Intuitive Surgical by 300.0% in the 1st quarter. Cullinan Associates Inc. now owns 6,400 shares of the medical equipment provider’s stock worth $2,554,000 after buying an additional 4,800 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in shares of Intuitive Surgical by 33.5% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 4,260 shares of the medical equipment provider’s stock worth $1,700,000 after buying an additional 1,070 shares in the last quarter. Congress Wealth Management LLC DE boosted its position in shares of Intuitive Surgical by 0.5% in the 1st quarter. Congress Wealth Management LLC DE now owns 41,494 shares of the medical equipment provider’s stock worth $16,560,000 after buying an additional 217 shares in the last quarter. Claro Advisors LLC boosted its position in shares of Intuitive Surgical by 25.0% in the 1st quarter. Claro Advisors LLC now owns 819 shares of the medical equipment provider’s stock worth $327,000 after buying an additional 164 shares in the last quarter. Finally, Miracle Mile Advisors LLC lifted its holdings in Intuitive Surgical by 2.8% in the 1st quarter. Miracle Mile Advisors LLC now owns 1,478 shares of the medical equipment provider’s stock valued at $590,000 after purchasing an additional 40 shares in the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Intuitive Surgical news, Director Alan J. Levy sold 2,000 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $370.70, for a total value of $741,400.00. Following the sale, the director now directly owns 25,319 shares of the company’s stock, valued at $9,385,753.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Intuitive Surgical news, Director Mark J. Rubash sold 1,709 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $380.00, for a total transaction of $649,420.00. Following the sale, the director now directly owns 16,051 shares in the company, valued at approximately $6,099,380. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alan J. Levy sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $370.70, for a total transaction of $741,400.00. Following the transaction, the director now owns 25,319 shares in the company, valued at approximately $9,385,753.30. The disclosure for this sale can be found here. Insiders have sold 17,956 shares of company stock valued at $6,927,011 over the last three months. Company insiders own 0.90% of the company’s stock.

Intuitive Surgical Price Performance

ISRG traded up $2.57 during trading hours on Tuesday, hitting $438.81. 1,091,445 shares of the stock were exchanged, compared to its average volume of 1,524,658. The stock has a 50-day simple moving average of $405.17 and a 200-day simple moving average of $384.28. Intuitive Surgical, Inc. has a 12 month low of $254.85 and a 12 month high of $448.10. The stock has a market cap of $155.65 billion, a price-to-earnings ratio of 79.17, a price-to-earnings-growth ratio of 5.75 and a beta of 1.39.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings data on Thursday, April 18th. The medical equipment provider reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.10. Intuitive Surgical had a return on equity of 12.91% and a net margin of 27.16%. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period last year, the business posted $1.00 earnings per share. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. Sell-side analysts expect that Intuitive Surgical, Inc. will post 4.8 EPS for the current year.

Analyst Ratings Changes

ISRG has been the topic of a number of recent research reports. Stifel Nicolaus upped their target price on shares of Intuitive Surgical from $420.00 to $430.00 and gave the company a “buy” rating in a report on Monday, April 8th. Evercore ISI upped their target price on shares of Intuitive Surgical from $385.00 to $425.00 and gave the company an “in-line” rating in a report on Tuesday. Jefferies Financial Group upped their target price on shares of Intuitive Surgical from $365.00 to $375.00 and gave the company a “hold” rating in a report on Friday, April 19th. The Goldman Sachs Group initiated coverage on shares of Intuitive Surgical in a report on Thursday, May 30th. They issued a “buy” rating and a $500.00 target price on the stock. Finally, Piper Sandler upped their target price on shares of Intuitive Surgical from $425.00 to $435.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $404.79.

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.