Norges Bank Invests $2.40 Billion in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Norges Bank bought a new position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,600,913 shares of the medical equipment provider’s stock, valued at approximately $2,401,493,000.

Several other hedge funds also recently made changes to their positions in the company. Bennett Selby Investments LP grew its stake in shares of Intuitive Surgical by 3.9% in the 4th quarter. Bennett Selby Investments LP now owns 449 shares of the medical equipment provider’s stock worth $234,000 after buying an additional 17 shares in the last quarter. Onefund LLC boosted its stake in Intuitive Surgical by 1.9% during the fourth quarter. Onefund LLC now owns 947 shares of the medical equipment provider’s stock worth $494,000 after buying an additional 18 shares during the period. LVW Advisors LLC raised its stake in shares of Intuitive Surgical by 1.3% in the fourth quarter. LVW Advisors LLC now owns 1,448 shares of the medical equipment provider’s stock valued at $756,000 after acquiring an additional 19 shares during the period. Wesbanco Bank Inc. lifted its holdings in shares of Intuitive Surgical by 1.6% in the 4th quarter. Wesbanco Bank Inc. now owns 1,216 shares of the medical equipment provider’s stock worth $635,000 after acquiring an additional 19 shares during the last quarter. Finally, Journey Strategic Wealth LLC grew its holdings in Intuitive Surgical by 1.9% during the 4th quarter. Journey Strategic Wealth LLC now owns 1,039 shares of the medical equipment provider’s stock valued at $542,000 after purchasing an additional 19 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ISRG shares. CICC Research began coverage on Intuitive Surgical in a research note on Monday, January 27th. They issued a “neutral” rating and a $550.00 target price on the stock. Stifel Nicolaus upped their price objective on Intuitive Surgical from $525.00 to $610.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Truist Financial decreased their target price on shares of Intuitive Surgical from $666.00 to $605.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Royal Bank of Canada upped their price objective on shares of Intuitive Surgical from $611.00 to $641.00 in a research report on Monday, January 27th. Finally, UBS Group raised their target price on Intuitive Surgical from $500.00 to $560.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $611.86.

Insider Activity

In other Intuitive Surgical news, Director Amal M. Johnson sold 4,635 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $566.60, for a total value of $2,626,191.00. Following the sale, the director now owns 12,275 shares of the company’s stock, valued at $6,955,015. The trade was a 27.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert Desantis sold 11,545 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $499.22, for a total value of $5,763,494.90. Following the transaction, the executive vice president now owns 5,224 shares of the company’s stock, valued at approximately $2,607,925.28. This represents a 68.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,754 shares of company stock valued at $17,691,621. 0.90% of the stock is currently owned by company insiders.

Intuitive Surgical Trading Down 2.1 %

Shares of ISRG opened at $509.03 on Thursday. The firm has a market capitalization of $181.31 billion, a P/E ratio of 79.41, a P/E/G ratio of 5.85 and a beta of 1.43. The firm has a 50-day moving average price of $559.82 and a 200 day moving average price of $532.42. Intuitive Surgical, Inc. has a 12-month low of $364.17 and a 12-month high of $616.00.

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.