Bourne Lent Asset Management Inc. Sells 80 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Bourne Lent Asset Management Inc. lowered its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 0.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,730 shares of the medical equipment provider’s stock after selling 80 shares during the quarter. Intuitive Surgical comprises approximately 5.7% of Bourne Lent Asset Management Inc.’s holdings, making the stock its 7th largest holding. Bourne Lent Asset Management Inc.’s holdings in Intuitive Surgical were worth $13,239,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Sycomore Asset Management lifted its stake in shares of Intuitive Surgical by 27.4% in the 4th quarter. Sycomore Asset Management now owns 18,945 shares of the medical equipment provider’s stock valued at $9,214,000 after purchasing an additional 4,079 shares during the period. Castleark Management LLC lifted its stake in shares of Intuitive Surgical by 3.4% in the 4th quarter. Castleark Management LLC now owns 90,469 shares of the medical equipment provider’s stock valued at $47,221,000 after purchasing an additional 2,990 shares during the period. Truist Financial Corp lifted its stake in shares of Intuitive Surgical by 3.0% in the 4th quarter. Truist Financial Corp now owns 248,092 shares of the medical equipment provider’s stock valued at $129,494,000 after purchasing an additional 7,298 shares during the period. Northeast Investment Management lifted its stake in shares of Intuitive Surgical by 3.1% in the 4th quarter. Northeast Investment Management now owns 89,170 shares of the medical equipment provider’s stock valued at $46,543,000 after purchasing an additional 2,685 shares during the period. Finally, Forbes J M & Co. LLP lifted its stake in shares of Intuitive Surgical by 211.5% in the 4th quarter. Forbes J M & Co. LLP now owns 1,953 shares of the medical equipment provider’s stock valued at $1,019,000 after purchasing an additional 1,326 shares during the period. Institutional investors and hedge funds own 83.64% of the company’s stock.

Insider Activity

In related news, Director Jami K. Nachtsheim sold 2,400 shares of the firm’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $520.00, for a total value of $1,248,000.00. Following the completion of the sale, the director now directly owns 6,371 shares in the company, valued at approximately $3,312,920. This trade represents a 27.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Robert Desantis sold 188 shares of the firm’s stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $515.91, for a total transaction of $96,991.08. Following the completion of the sale, the executive vice president now owns 5,224 shares of the company’s stock, valued at $2,695,113.84. This trade represents a 3.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,443 shares of company stock worth $12,692,195 in the last quarter. Corporate insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ISRG shares. Erste Group Bank raised Intuitive Surgical from a “hold” rating to a “buy” rating in a research note on Thursday. Robert W. Baird dropped their price objective on Intuitive Surgical from $600.00 to $575.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Truist Financial dropped their price objective on Intuitive Surgical from $605.00 to $590.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Royal Bank of Canada dropped their price objective on Intuitive Surgical from $630.00 to $605.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Finally, Citigroup reaffirmed a “buy” rating and set a $650.00 price objective (up previously from $590.00) on shares of Intuitive Surgical in a research note on Thursday, May 22nd. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $596.05.

Intuitive Surgical Price Performance

Shares of NASDAQ ISRG opened at $557.08 on Friday. The stock has a market capitalization of $199.67 billion, a price-to-earnings ratio of 86.91, a PEG ratio of 5.85 and a beta of 1.67. The business has a 50-day moving average of $521.99 and a 200-day moving average of $539.24. Intuitive Surgical, Inc. has a fifty-two week low of $413.52 and a fifty-two week high of $616.00.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings data on Tuesday, April 22nd. The medical equipment provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.10. The company had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Intuitive Surgical had a return on equity of 14.55% and a net margin of 27.81%. During the same quarter last year, the company earned $1.50 EPS. On average, sell-side analysts expect that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

Intuitive Surgical 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.