Jennison Associates LLC Reduces Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Jennison Associates LLC trimmed its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 19.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,379,085 shares of the medical equipment provider’s stock after selling 791,335 shares during the quarter. Intuitive Surgical accounts for approximately 1.0% of Jennison Associates LLC’s investment portfolio, making the stock its 22nd largest position. Jennison Associates LLC owned 0.95% of Intuitive Surgical worth $1,660,043,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Creekmur Asset Management LLC boosted its stake in shares of Intuitive Surgical by 200.0% during the first quarter. Creekmur Asset Management LLC now owns 63 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 42 shares during the period. Ridgewood Investments LLC purchased a new stake in shares of Intuitive Surgical during the second quarter valued at $26,000. Godsey & Gibb Inc. boosted its stake in shares of Intuitive Surgical by 140.0% during the third quarter. Godsey & Gibb Inc. now owns 60 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 35 shares during the period. LRI Investments LLC purchased a new stake in shares of Intuitive Surgical during the first quarter valued at $30,000. Finally, LGT Financial Advisors LLC boosted its stake in shares of Intuitive Surgical by 415.4% during the second quarter. LGT Financial Advisors LLC now owns 67 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 54 shares during the period. 83.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Intuitive Surgical

In related news, SVP Henry L. Charlton sold 40,243 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $486.84, for a total value of $19,591,902.12. Following the transaction, the senior vice president now owns 3,001 shares in the company, valued at approximately $1,461,006.84. This represents a 93.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gary S. Guthart sold 18,151 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $511.63, for a total transaction of $9,286,596.13. Following the completion of the transaction, the chief executive officer now owns 24,219 shares in the company, valued at approximately $12,391,166.97. This trade represents a 42.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 91,178 shares of company stock valued at $45,897,071 in the last three months. 0.80% of the stock is owned by insiders.

Intuitive Surgical Stock Up 1.4 %

Shares of Intuitive Surgical stock opened at $538.82 on Wednesday. The firm has a market capitalization of $191.92 billion, a P/E ratio of 86.63, a PEG ratio of 5.19 and a beta of 1.39. The company has a 50 day moving average price of $501.42 and a 200 day moving average price of $460.69. Intuitive Surgical, Inc. has a 52 week low of $304.50 and a 52 week high of $544.38.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings data on Thursday, October 17th. The medical equipment provider reported $1.56 EPS for the quarter, beating the consensus estimate of $1.24 by $0.32. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.01 billion. Intuitive Surgical had a net margin of 28.51% and a return on equity of 13.41%. As a group, research analysts anticipate that Intuitive Surgical, Inc. will post 5.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Evercore ISI restated a “cautious” rating on shares of Intuitive Surgical in a report on Friday, October 18th. Piper Sandler reaffirmed an “overweight” rating and issued a $538.00 price objective (up from $495.00) on shares of Intuitive Surgical in a research note on Friday, October 18th. BTIG Research set a $535.00 price objective on shares of Intuitive Surgical in a research note on Friday, October 18th. Leerink Partners upped their price objective on shares of Intuitive Surgical from $489.00 to $502.00 in a research note on Thursday, October 17th. Finally, The Goldman Sachs Group set a $604.00 price objective on shares of Intuitive Surgical in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $524.61.

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.