California State Teachers Retirement System Trims Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

California State Teachers Retirement System decreased its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 2.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 553,030 shares of the medical equipment provider’s stock after selling 14,173 shares during the period. California State Teachers Retirement System’s holdings in Intuitive Surgical were worth $288,660,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in Intuitive Surgical during the fourth quarter worth approximately $2,401,493,000. Proficio Capital Partners LLC raised its stake in Intuitive Surgical by 89,098.8% during the fourth quarter. Proficio Capital Partners LLC now owns 949,967 shares of the medical equipment provider’s stock worth $495,845,000 after purchasing an additional 948,902 shares during the period. Capital Research Global Investors raised its stake in Intuitive Surgical by 25.5% during the fourth quarter. Capital Research Global Investors now owns 3,381,302 shares of the medical equipment provider’s stock worth $1,764,904,000 after purchasing an additional 687,906 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Intuitive Surgical in the 4th quarter valued at $313,769,000. Finally, Wilmington Savings Fund Society FSB raised its stake in shares of Intuitive Surgical by 15,322.2% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 555,661 shares of the medical equipment provider’s stock valued at $272,980,000 after acquiring an additional 552,058 shares during the period. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Stock Up 1.3 %

Shares of NASDAQ ISRG opened at $514.59 on Monday. The stock’s 50 day moving average price is $511.92 and its two-hundred day moving average price is $533.05. Intuitive Surgical, Inc. has a 52-week low of $367.39 and a 52-week high of $616.00. The stock has a market capitalization of $183.29 billion, a P/E ratio of 80.28, a PEG ratio of 5.85 and a beta of 1.55.

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on ISRG shares. Piper Sandler cut their target price on shares of Intuitive Surgical from $670.00 to $575.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Erste Group Bank downgraded shares of Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 17th. Citigroup raised their target price on shares of Intuitive Surgical from $640.00 to $711.00 and gave the company a “buy” rating in a research note on Friday, January 24th. UBS Group raised their target price on shares of Intuitive Surgical from $500.00 to $560.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Finally, Jefferies Financial Group raised their target price on shares of Intuitive Surgical from $475.00 to $575.00 in a research note on Monday, January 27th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $598.95.

Insider Buying and Selling at Intuitive Surgical

In other news, CFO Jamie Samath sold 94 shares of the stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $571.11, for a total transaction of $53,684.34. Following the sale, the chief financial officer now directly owns 2,630 shares in the company, valued at approximately $1,502,019.30. This represents a 3.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amal M. Johnson sold 4,635 shares of the stock in a transaction that occurred on 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,454 shares of company stock worth $18,564,027 over the last quarter. 0.70% of the stock is owned by corporate insiders.

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.