Corebridge Financial Inc. Reduces Stock Holdings in Intuitive Surgical, Inc. $ISRG

Corebridge Financial Inc. trimmed its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 3.5% during the 1st quarter, Holdings Channel reports. The institutional investor owned 107,029 shares of the medical equipment provider’s stock after selling 3,925 shares during the period. Corebridge Financial Inc.’s holdings in Intuitive Surgical were worth $53,008,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Apexium Financial LP grew its stake in Intuitive Surgical by 13.5% during the 1st quarter. Apexium Financial LP now owns 472 shares of the medical equipment provider’s stock worth $234,000 after buying an additional 56 shares during the last quarter. Mirova grew its stake in Intuitive Surgical by 4.1% during the 1st quarter. Mirova now owns 14,267 shares of the medical equipment provider’s stock worth $7,066,000 after buying an additional 564 shares during the last quarter. Synovus Financial Corp grew its stake in Intuitive Surgical by 36.9% during the 1st quarter. Synovus Financial Corp now owns 3,492 shares of the medical equipment provider’s stock worth $1,729,000 after buying an additional 941 shares during the last quarter. ICONIQ Capital LLC grew its stake in Intuitive Surgical by 16.3% during the 1st quarter. ICONIQ Capital LLC now owns 1,930 shares of the medical equipment provider’s stock worth $956,000 after buying an additional 270 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC grew its stake in Intuitive Surgical by 125.4% during the 1st quarter. Campbell & CO Investment Adviser LLC now owns 3,778 shares of the medical equipment provider’s stock worth $1,871,000 after buying an additional 2,102 shares during the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ISRG. BTIG Research lifted their price target on Intuitive Surgical from $566.00 to $571.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. UBS Group lifted their price target on Intuitive Surgical from $547.00 to $585.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 23rd. Wells Fargo & Company lifted their price target on Intuitive Surgical from $559.00 to $599.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft cut Intuitive Surgical from a “hold” rating to a “sell” rating and lowered their price target for the stock from $515.00 to $440.00 in a research report on Monday, June 9th. Finally, Evercore ISI lifted their price target on Intuitive Surgical from $470.00 to $550.00 and gave the stock an “in-line” rating in a research report on Tuesday, July 8th. Thirteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $595.95.

Insider Transactions at Intuitive Surgical

In related news, EVP Myriam Curet sold 4,500 shares of the company’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $492.48, for a total value of $2,216,160.00. Following the completion of the transaction, the executive vice president owned 353 shares of the company’s stock, valued at approximately $173,845.44. This represents a 92.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gary S. Guthart sold 2,800 shares of the company’s stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $495.24, for a total value of $1,386,672.00. Following the completion of the transaction, the insider directly owned 18,520 shares of the company’s stock, valued at $9,171,844.80. The trade was a 13.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,839 shares of company stock worth $7,896,972 over the last quarter. 0.70% of the stock is currently owned by insiders.

Intuitive Surgical Stock Up 1.3%

Shares of ISRG opened at $476.16 on Monday. Intuitive Surgical, Inc. has a 52 week low of $425.00 and a 52 week high of $616.00. The company has a market capitalization of $170.69 billion, a price-to-earnings ratio of 66.41, a PEG ratio of 4.99 and a beta of 1.59. The stock’s 50-day moving average price is $504.42 and its 200-day moving average price is $521.12.

Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.26. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%.The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the business earned $1.78 earnings per share. The company’s revenue was up 21.4% compared to the same quarter last year. As a group, equities analysts anticipate that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

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.