Connor Clark & Lunn Investment Management Ltd. Cuts Stock Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Connor Clark & Lunn Investment Management Ltd. trimmed its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 68.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,275 shares of the medical equipment provider’s stock after selling 15,841 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Intuitive Surgical were worth $3,797,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of ISRG. Howard Capital Management Group LLC boosted its stake in Intuitive Surgical by 4.5% during the third quarter. Howard Capital Management Group LLC now owns 2,125 shares of the medical equipment provider’s stock worth $1,044,000 after buying an additional 92 shares during the period. Principal Financial Group Inc. boosted its stake in Intuitive Surgical by 1.5% during the third quarter. Principal Financial Group Inc. now owns 602,393 shares of the medical equipment provider’s stock worth $295,938,000 after buying an additional 9,194 shares during the period. Impax Asset Management Group plc boosted its stake in Intuitive Surgical by 43.9% during the third quarter. Impax Asset Management Group plc now owns 5,167 shares of the medical equipment provider’s stock worth $2,538,000 after buying an additional 1,577 shares during the period. Empowered Funds LLC boosted its stake in Intuitive Surgical by 4.4% during the third quarter. Empowered Funds LLC now owns 8,177 shares of the medical equipment provider’s stock worth $4,017,000 after buying an additional 345 shares during the period. Finally, Mizuho Securities USA LLC boosted its stake in Intuitive Surgical by 6.7% during the third quarter. Mizuho Securities USA LLC now owns 29,180 shares of the medical equipment provider’s stock worth $14,335,000 after buying an additional 1,835 shares during the period. 83.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ISRG. Erste Group Bank upgraded Intuitive Surgical from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Morgan Stanley upgraded Intuitive Surgical from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $522.00 to $650.00 in a research report on Monday, December 2nd. BTIG Research lifted their target price on Intuitive Surgical from $535.00 to $561.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Leerink Partners lifted their target price on Intuitive Surgical from $490.00 to $548.00 in a research report on Monday, January 27th. Finally, Evercore ISI lifted their target price on Intuitive Surgical from $490.00 to $530.00 in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $613.10.

Insider Transactions at Intuitive Surgical

In other news, EVP Robert Desantis sold 11,545 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $499.22, for a total transaction of $5,763,494.90. Following the sale, the executive vice president now owns 5,224 shares in the company, valued at approximately $2,607,925.28. The trade was a 68.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Amal M. Johnson sold 4,635 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $566.60, for a total value of $2,626,191.00. Following the sale, the director now owns 12,275 shares in the company, valued at $6,955,015. The trade was a 27.41 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,754 shares of company stock worth $17,691,621. Insiders own 0.90% of the company’s stock.

Intuitive Surgical Stock Performance

Shares of ISRG stock opened at $484.44 on Monday. Intuitive Surgical, Inc. has a fifty-two week low of $364.17 and a fifty-two week high of $616.00. The firm has a market capitalization of $172.55 billion, a price-to-earnings ratio of 75.58, a PEG ratio of 5.85 and a beta of 1.43. The stock’s 50-day simple moving average is $567.46 and its 200-day simple moving average is $531.94.

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.