Summit Global Investments Sells 199 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Summit Global Investments reduced its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 31.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 424 shares of the medical equipment provider’s stock after selling 199 shares during the quarter. Summit Global Investments’ holdings in Intuitive Surgical were worth $221,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ISRG. TD Private Client Wealth LLC boosted its holdings in Intuitive Surgical by 8.1% in the fourth quarter. TD Private Client Wealth LLC now owns 3,988 shares of the medical equipment provider’s stock worth $2,082,000 after acquiring an additional 299 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of Intuitive Surgical by 45.8% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 33,806 shares of the medical equipment provider’s stock worth $17,645,000 after purchasing an additional 10,626 shares during the last quarter. Douglass Winthrop Advisors LLC boosted its stake in Intuitive Surgical by 0.9% in the 4th quarter. Douglass Winthrop Advisors LLC now owns 2,613 shares of the medical equipment provider’s stock worth $1,364,000 after purchasing an additional 24 shares in the last quarter. Whittier Trust Co. grew its position in Intuitive Surgical by 49.9% during the 4th quarter. Whittier Trust Co. now owns 63,791 shares of the medical equipment provider’s stock valued at $33,295,000 after purchasing an additional 21,242 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. increased its stake in Intuitive Surgical by 1.2% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 15,924 shares of the medical equipment provider’s stock valued at $8,311,000 after purchasing an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Wall Street Analysts Forecast Growth

ISRG has been the topic of a number of recent analyst reports. Barclays increased their price target on shares of Intuitive Surgical from $610.00 to $674.00 in a report on Monday, January 27th. Robert W. Baird cut their target price on Intuitive Surgical from $707.00 to $600.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 18th. Royal Bank of Canada boosted their price target on Intuitive Surgical from $611.00 to $641.00 in a research note on Monday, January 27th. UBS Group increased their price objective on Intuitive Surgical from $500.00 to $560.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Finally, Stifel Nicolaus boosted their target price on Intuitive Surgical from $525.00 to $610.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, Intuitive Surgical presently has a consensus rating of “Moderate Buy” and an average price target of $611.86.

Intuitive Surgical Stock Performance

NASDAQ:ISRG opened at $519.81 on Wednesday. The stock has a 50-day simple moving average of $561.24 and a two-hundred day simple moving average of $532.59. Intuitive Surgical, Inc. has a 52-week low of $364.17 and a 52-week high of $616.00. The firm has a market capitalization of $185.15 billion, a PE ratio of 81.09, a P/E/G ratio of 5.85 and a beta of 1.43.

Insider Activity at Intuitive Surgical

In related news, EVP Robert Desantis sold 11,545 shares of Intuitive Surgical stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $499.22, for a total transaction of $5,763,494.90. Following the transaction, the executive vice president now owns 5,224 shares in the company, valued at approximately $2,607,925.28. The trade was a 68.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jamie Samath sold 94 shares of the 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. The trade was a 3.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,754 shares of company stock worth $17,691,621. 0.90% of the stock is owned by company insiders.

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.