Impax Asset Management Group plc Sells 71,706 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Impax Asset Management Group plc cut its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 36.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 127,713 shares of the medical equipment provider’s stock after selling 71,706 shares during the period. Impax Asset Management Group plc’s holdings in Intuitive Surgical were worth $62,614,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in Intuitive Surgical in the fourth quarter valued at approximately $2,401,493,000. GAMMA Investing LLC increased its stake in shares of Intuitive Surgical by 54,010.7% in the 1st quarter. GAMMA Investing LLC now owns 3,028,576 shares of the medical equipment provider’s stock valued at $14,999,630,000 after acquiring an additional 3,022,979 shares in the last quarter. Capital Research Global Investors increased its stake in shares of Intuitive Surgical by 25.5% in the 4th quarter. Capital Research Global Investors now owns 3,381,302 shares of the medical equipment provider’s stock valued at $1,764,904,000 after acquiring an additional 687,906 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Intuitive Surgical during the 4th quarter valued at $313,769,000. Finally, Northern Trust Corp boosted its stake in Intuitive Surgical by 15.8% during the fourth quarter. Northern Trust Corp now owns 3,619,293 shares of the medical equipment provider’s stock worth $1,889,126,000 after acquiring an additional 494,496 shares in the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Mark Brosius sold 216 shares of the firm’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $563.11, for a total transaction of $121,631.76. Following the completion of the sale, the senior vice president owned 907 shares in the company, valued at approximately $510,740.77. This trade represents a 19.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Robert Desantis sold 188 shares of Intuitive Surgical stock in a transaction dated Monday, April 28th. The stock was 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 directly owned 5,224 shares in the company, valued at approximately $2,695,113.84. This represents a 3.47% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,998 shares of company stock valued at $2,611,577. 0.70% of the stock is owned by insiders.

Intuitive Surgical Price Performance

ISRG opened at $543.74 on Friday. Intuitive Surgical, Inc. has a fifty-two week low of $413.82 and a fifty-two week high of $616.00. The firm has a market capitalization of $194.89 billion, a P/E ratio of 79.73, a PEG ratio of 5.78 and a beta of 1.64. The company’s 50-day moving average is $537.11 and its 200 day moving average is $536.76.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings data on Tuesday, April 22nd. The medical equipment provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.71 by $0.10. Intuitive Surgical had a net margin of 28.41% and a return on equity of 14.43%. The firm had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same quarter last year, the business posted $1.50 EPS. On average, equities research analysts expect that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Analysts Set New Price Targets

ISRG has been the subject of several research analyst reports. Erste Group Bank raised shares of Intuitive Surgical from a “hold” rating to a “buy” rating in a research note on Thursday, June 5th. Citigroup restated a “buy” rating and issued a $650.00 target price (up from $590.00) on shares of Intuitive Surgical in a research note on Thursday, May 22nd. Barclays decreased their target price on Intuitive Surgical from $684.00 to $635.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. Royal Bank Of Canada cut their price target on Intuitive Surgical from $630.00 to $605.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Finally, Truist Financial reduced their price objective on Intuitive Surgical from $605.00 to $590.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, Intuitive Surgical currently has an average rating of “Moderate Buy” and an average target price of $588.95.

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.