Truist Financial Corp Sells 4,762 Shares of Intuitive Surgical, Inc. $ISRG

Truist Financial Corp reduced its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 2.8% during the fourth quarter, HoldingsChannel reports. The fund owned 164,178 shares of the medical equipment provider’s stock after selling 4,762 shares during the quarter. Truist Financial Corp’s holdings in Intuitive Surgical were worth $92,984,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Draper Asset Management LLC boosted its position in shares of Intuitive Surgical by 41.9% in the fourth quarter. Draper Asset Management LLC now owns 5,029 shares of the medical equipment provider’s stock worth $2,848,000 after purchasing an additional 1,485 shares during the period. Atlantic Union Bankshares Corp boosted its position in shares of Intuitive Surgical by 19.3% in the third quarter. Atlantic Union Bankshares Corp now owns 22,759 shares of the medical equipment provider’s stock worth $10,179,000 after purchasing an additional 3,676 shares during the period. Valley Wealth Managers Inc. boosted its position in shares of Intuitive Surgical by 52.7% in the third quarter. Valley Wealth Managers Inc. now owns 4,084 shares of the medical equipment provider’s stock worth $1,826,000 after purchasing an additional 1,409 shares during the period. AGF Management Ltd. boosted its position in shares of Intuitive Surgical by 0.6% in the third quarter. AGF Management Ltd. now owns 464,179 shares of the medical equipment provider’s stock worth $207,595,000 after purchasing an additional 2,575 shares during the period. Finally, AE Wealth Management LLC boosted its position in shares of Intuitive Surgical by 18.9% in the third quarter. AE Wealth Management LLC now owns 11,556 shares of the medical equipment provider’s stock worth $5,168,000 after purchasing an additional 1,836 shares during the period. 83.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ISRG has been the subject of a number of recent analyst reports. Zacks Research lowered shares of Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Leerink Partners dropped their price target on shares of Intuitive Surgical from $622.00 to $573.00 and set an “outperform” rating for the company in a research report on Wednesday, April 22nd. JPMorgan Chase & Co. dropped their target price on shares of Intuitive Surgical from $625.00 to $550.00 and set an “overweight” rating for the company in a research report on Wednesday, April 22nd. Barclays set a $651.00 target price on shares of Intuitive Surgical and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. Finally, The Goldman Sachs Group upped their target price on shares of Intuitive Surgical from $609.00 to $621.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Eighteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $581.91.

Intuitive Surgical Stock Performance

Shares of NASDAQ:ISRG opened at $452.35 on Tuesday. The firm has a fifty day moving average price of $474.86 and a 200 day moving average price of $517.11. Intuitive Surgical, Inc. has a fifty-two week low of $427.84 and a fifty-two week high of $603.88. The firm has a market cap of $160.20 billion, a price-to-earnings ratio of 54.83, a P/E/G ratio of 3.66 and a beta of 1.51.

Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.42. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the prior year, the business earned $1.81 earnings per share. Intuitive Surgical’s revenue for the quarter was up 23.0% on a year-over-year basis. As a group, research analysts predict that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current year.

Insider Activity at Intuitive Surgical

In related news, EVP Myriam Curet sold 105 shares of the company’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $493.95, for a total transaction of $51,864.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Mark Brosius sold 645 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $485.01, for a total transaction of $312,831.45. Following the sale, the senior vice president directly owned 1,613 shares in the company, valued at approximately $782,321.13. The trade was a 28.57% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 5,906 shares of company stock valued at $2,907,726 over the last quarter. 0.60% of the stock is currently owned by insiders.

About Intuitive Surgical

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon’s hand movements into finer, scaled motions of small instruments inside the patient. Intuitive’s business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.