SVB Wealth LLC Purchases New Stake in Intuitive Surgical, Inc. (NASDAQ:ISRG)

SVB Wealth LLC acquired a new position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,363 shares of the medical equipment provider’s stock, valued at approximately $12,717,000.

Other large investors have also recently bought and sold shares of the company. Flputnam Investment Management Co. boosted its position in shares of Intuitive Surgical by 1.0% during the 4th quarter. Flputnam Investment Management Co. now owns 11,365 shares of the medical equipment provider’s stock worth $5,932,000 after acquiring an additional 107 shares in the last quarter. Illumine Investment Management LLC bought a new stake in Intuitive Surgical during the fourth quarter worth $3,960,000. Private Trust Co. NA boosted its holdings in shares of Intuitive Surgical by 5.8% in the 4th quarter. Private Trust Co. NA now owns 1,014 shares of the medical equipment provider’s stock valued at $529,000 after purchasing an additional 56 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Intuitive Surgical by 2.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 747 shares of the medical equipment provider’s stock valued at $390,000 after purchasing an additional 19 shares during the last quarter. Finally, Verus Capital Partners LLC raised its holdings in shares of Intuitive Surgical by 3.8% during the 4th quarter. Verus Capital Partners LLC now owns 1,032 shares of the medical equipment provider’s stock worth $539,000 after buying an additional 38 shares in the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Amal M. Johnson sold 4,635 shares of the business’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $566.60, for a total value of $2,626,191.00. Following the transaction, the director now owns 12,275 shares in the company, valued at $6,955,015. The trade was a 27.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Myriam Curet sold 2,401 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $581.00, for a total value of $1,394,981.00. Following the sale, the executive vice president now owns 353 shares of the company’s stock, valued at approximately $205,093. The trade was a 87.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,077 shares of company stock valued at $4,620,025. 0.80% of the stock is currently owned by insiders.

Intuitive Surgical Stock Performance

NASDAQ:ISRG opened at $573.15 on Friday. Intuitive Surgical, Inc. has a fifty-two week low of $364.17 and a fifty-two week high of $616.00. The company has a 50 day simple moving average of $569.87 and a two-hundred day simple moving average of $528.64. The company has a market capitalization of $204.14 billion, a PE ratio of 89.42, a P/E/G ratio of 5.85 and a beta of 1.39.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Jefferies Financial Group raised their price objective on Intuitive Surgical from $475.00 to $575.00 in a research note on Monday, January 27th. Wells Fargo & Company lifted their price target on shares of Intuitive Surgical from $630.00 to $687.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Truist Financial increased their price objective on shares of Intuitive Surgical from $640.00 to $666.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Bernstein Bank boosted their target price on shares of Intuitive Surgical from $655.00 to $700.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. Finally, Piper Sandler reiterated an “overweight” rating and set a $670.00 price target (up from $538.00) on shares of Intuitive Surgical in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $613.10.

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.