New York Life Investment Management LLC Reduces Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

New York Life Investment Management LLC reduced its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 8.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,840 shares of the medical equipment provider’s stock after selling 4,406 shares during the period. New York Life Investment Management LLC’s holdings in Intuitive Surgical were worth $21,726,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ISRG. Creekmur Asset Management LLC grew its holdings in Intuitive Surgical by 200.0% during the 1st quarter. Creekmur Asset Management LLC now owns 63 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 42 shares during the last quarter. Ridgewood Investments LLC acquired a new stake in Intuitive Surgical during the 2nd quarter valued at $26,000. Able Wealth Management LLC acquired a new stake in Intuitive Surgical during the 4th quarter valued at $28,000. Delos Wealth Advisors LLC grew its holdings in Intuitive Surgical by 380.0% during the 1st quarter. Delos Wealth Advisors LLC now owns 72 shares of the medical equipment provider’s stock valued at $29,000 after buying an additional 57 shares during the last quarter. Finally, LRI Investments LLC acquired a new stake in Intuitive Surgical during the 1st quarter valued at $30,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ISRG. Citigroup increased their target price on Intuitive Surgical from $512.00 to $560.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. BTIG Research raised their price objective on Intuitive Surgical from $469.00 to $494.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Evercore ISI dropped their target price on Intuitive Surgical from $425.00 to $410.00 and set an “in-line” rating for the company in a research note on Friday, July 19th. Morgan Stanley raised their price target on Intuitive Surgical from $375.00 to $460.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Finally, Robert W. Baird upped their price objective on shares of Intuitive Surgical from $487.00 to $503.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $446.45.

Intuitive Surgical Price Performance

NASDAQ:ISRG opened at $471.82 on Friday. The business’s 50-day moving average is $458.74 and its two-hundred day moving average is $417.98. The firm has a market capitalization of $167.35 billion, a PE ratio of 85.17, a price-to-earnings-growth ratio of 5.43 and a beta of 1.39. Intuitive Surgical, Inc. has a 12 month low of $254.85 and a 12 month high of $493.97.

Intuitive Surgical (NASDAQ:ISRG) last announced its earnings results on Thursday, July 18th. The medical equipment provider reported $1.78 EPS for the quarter, beating the consensus estimate of $1.54 by $0.24. Intuitive Surgical had a return on equity of 13.04% and a net margin of 27.65%. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same period last year, the business posted $1.18 EPS. The company’s revenue was up 14.5% on a year-over-year basis. Equities analysts anticipate that Intuitive Surgical, Inc. will post 5.22 EPS for the current year.

Insider Activity

In related news, EVP Robert Desantis sold 239 shares of Intuitive Surgical stock in a transaction on Monday, June 10th. The shares were sold at an average price of $416.60, for a total transaction of $99,567.40. Following the sale, the executive vice president now owns 5,506 shares of the company’s stock, valued at approximately $2,293,799.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Craig H. Barratt sold 1,400 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $458.13, for a total transaction of $641,382.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert Desantis sold 239 shares of Intuitive Surgical stock in a transaction on Monday, June 10th. The stock was sold at an average price of $416.60, for a total transaction of $99,567.40. Following the completion of the sale, the executive vice president now owns 5,506 shares of the company’s stock, valued at approximately $2,293,799.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,656 shares of company stock worth $24,700,644. 0.90% of the stock is currently 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.