ARK Investment Management LLC Decreases Stock Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

ARK Investment Management LLC decreased its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 1.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,450 shares of the medical equipment provider’s stock after selling 354 shares during the quarter. ARK Investment Management LLC’s holdings in Intuitive Surgical were worth $10,152,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Longbow Finance SA purchased a new stake in shares of Intuitive Surgical during the 4th quarter valued at about $4,431,000. Amalgamated Bank increased its position in shares of Intuitive Surgical by 2.1% during the 4th quarter. Amalgamated Bank now owns 78,171 shares of the medical equipment provider’s stock valued at $40,802,000 after purchasing an additional 1,592 shares during the last quarter. FourThought Financial Partners LLC purchased a new stake in shares of Intuitive Surgical during the 4th quarter valued at about $1,158,000. Trifecta Capital Advisors LLC increased its position in shares of Intuitive Surgical by 6.0% during the 4th quarter. Trifecta Capital Advisors LLC now owns 11,514 shares of the medical equipment provider’s stock valued at $6,010,000 after purchasing an additional 655 shares during the last quarter. Finally, BankPlus Trust Department purchased a new stake in shares of Intuitive Surgical during the 4th quarter valued at about $28,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Price Performance

ISRG stock opened at $573.74 on Wednesday. The company has a market capitalization of $204.35 billion, a price-to-earnings ratio of 89.51, a PEG ratio of 5.85 and a beta of 1.39. Intuitive Surgical, Inc. has a 1-year low of $364.17 and a 1-year high of $616.00. The business has a 50 day simple moving average of $567.01 and a two-hundred day simple moving average of $527.27.

Analysts Set New Price Targets

Several research firms have recently commented on ISRG. Jefferies Financial Group upped their price target on shares of Intuitive Surgical from $475.00 to $575.00 in a research report on Monday, January 27th. Wells Fargo & Company boosted their price objective on Intuitive Surgical from $630.00 to $687.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Stifel Nicolaus boosted their price objective on Intuitive Surgical from $525.00 to $610.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. BTIG Research boosted their price objective on Intuitive Surgical from $535.00 to $561.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Bernstein Bank boosted their price objective on Intuitive Surgical from $655.00 to $700.00 and gave the company an “overweight” rating in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $613.10.

Insider Activity

In other news, EVP Myriam Curet sold 408 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $589.75, for a total transaction of $240,618.00. Following the completion of the transaction, the executive vice president now directly owns 353 shares in the company, valued at approximately $208,181.75. This represents a 53.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jamie Samath sold 269 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $590.00, for a total value of $158,710.00. Following the transaction, the chief financial officer now owns 3,282 shares of the company’s stock, valued at $1,936,380. This represents a 7.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,240 shares of company stock worth $3,529,040. 0.80% of the stock is currently owned by 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.