Intuitive Surgical, Inc. (NASDAQ:ISRG) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc decreased its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 11.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 167,721 shares of the medical equipment provider’s stock after selling 22,101 shares during the period. CIBC Asset Management Inc’s holdings in Intuitive Surgical were worth $87,544,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA acquired a new stake in shares of Intuitive Surgical during the third quarter worth approximately $558,807,000. International Assets Investment Management LLC grew its stake in Intuitive Surgical by 49,383.6% in the third quarter. International Assets Investment Management LLC now owns 1,090,619 shares of the medical equipment provider’s stock worth $535,788,000 after purchasing an additional 1,088,415 shares in the last quarter. FMR LLC increased its holdings in Intuitive Surgical by 8.3% in the third quarter. FMR LLC now owns 10,971,085 shares of the medical equipment provider’s stock valued at $5,389,765,000 after buying an additional 838,793 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its holdings in Intuitive Surgical by 15,322.2% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 555,661 shares of the medical equipment provider’s stock worth $272,980,000 after buying an additional 552,058 shares during the last quarter. Finally, Strategic Financial Concepts LLC grew its position in shares of Intuitive Surgical by 50,740.8% in the 4th quarter. Strategic Financial Concepts LLC now owns 312,671 shares of the medical equipment provider’s stock worth $163,202,000 after acquiring an additional 312,056 shares in the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

Intuitive Surgical Price Performance

ISRG stock opened at $595.55 on Monday. The firm has a market cap of $212.12 billion, a PE ratio of 92.91, a P/E/G ratio of 5.67 and a beta of 1.39. Intuitive Surgical, Inc. has a 12 month low of $364.17 and a 12 month high of $616.00. The firm has a 50 day simple moving average of $559.48 and a 200 day simple moving average of $520.19.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Raymond James lifted their price objective on shares of Intuitive Surgical from $560.00 to $688.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Bernstein Bank raised their target price on shares of Intuitive Surgical from $655.00 to $700.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. Citigroup upped their target price on Intuitive Surgical from $640.00 to $711.00 and gave the company a “buy” rating in a report on Friday, January 24th. Piper Sandler reissued an “overweight” rating and issued a $670.00 price target (up previously from $538.00) on shares of Intuitive Surgical in a report on Friday, January 24th. Finally, Evercore ISI increased their target price on Intuitive Surgical from $490.00 to $530.00 in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $613.10.

Insider Transactions at Intuitive Surgical

In other news, CFO Jamie Samath sold 94 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $571.11, for a total value of $53,684.34. Following the completion of the sale, the chief financial officer now owns 2,630 shares of the company’s stock, valued at $1,502,019.30. This trade represents a 3.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Amal M. Johnson sold 4,635 shares of the company’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $566.60, for a total value of $2,626,191.00. Following the transaction, the director now directly 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 sold a total of 6,348 shares of company stock valued at $3,587,582 in the last three months. 0.90% of the stock is currently owned by corporate insiders.

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.