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

Fred Alger Management LLC cut its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 5.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 369,241 shares of the medical equipment provider’s stock after selling 23,002 shares during the period. Intuitive Surgical makes up approximately 0.9% of Fred Alger Management LLC’s holdings, making the stock its 22nd largest holding. Fred Alger Management LLC owned about 0.10% of Intuitive Surgical worth $181,397,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. FMR LLC increased its stake in Intuitive Surgical by 8.3% in the 3rd quarter. FMR LLC now owns 10,971,085 shares of the medical equipment provider’s stock valued at $5,389,765,000 after purchasing an additional 838,793 shares in the last quarter. Fisher Asset Management LLC grew its holdings in Intuitive Surgical by 1.8% in the third quarter. Fisher Asset Management LLC now owns 4,782,381 shares of the medical equipment provider’s stock valued at $2,349,441,000 after purchasing an additional 86,208 shares during the last quarter. Baillie Gifford & Co. increased its position in shares of Intuitive Surgical by 0.6% in the third quarter. Baillie Gifford & Co. now owns 3,848,547 shares of the medical equipment provider’s stock valued at $1,890,676,000 after buying an additional 24,183 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Intuitive Surgical by 3.0% during the 2nd quarter. American Century Companies Inc. now owns 2,398,193 shares of the medical equipment provider’s stock worth $1,066,837,000 after buying an additional 70,556 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Intuitive Surgical by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,227,467 shares of the medical equipment provider’s stock worth $1,094,288,000 after buying an additional 28,703 shares in the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Intuitive Surgical Trading Down 0.7 %

NASDAQ ISRG opened at $538.55 on Friday. The stock has a market cap of $191.82 billion, a P/E ratio of 86.58, a PEG ratio of 5.30 and a beta of 1.39. The company’s fifty day simple moving average is $508.91 and its 200-day simple moving average is $467.29. Intuitive Surgical, Inc. has a 52 week low of $304.50 and a 52 week high of $552.00.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings data on Thursday, October 17th. The medical equipment provider reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.32. The firm had revenue of $2.04 billion for 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%. On average, research analysts expect that Intuitive Surgical, Inc. will post 5.45 EPS for the current fiscal year.

Insider Activity at Intuitive Surgical

In other news, CFO Jamie Samath sold 108 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $542.06, for a total value of $58,542.48. Following the completion of the sale, the chief financial officer now owns 8,757 shares of the company’s stock, valued at approximately $4,746,819.42. The trade was a 1.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Gary Loeb sold 300 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $475.00, for a total transaction of $142,500.00. Following the transaction, the general counsel now directly owns 1,595 shares in the company, valued at $757,625. The trade was a 15.83 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,459 shares of company stock valued at $26,080,251. Insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Intuitive Surgical from $466.00 to $549.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Evercore ISI restated a “cautious” rating on shares of Intuitive Surgical in a research report on Friday, October 18th. JPMorgan Chase & Co. increased their target price on Intuitive Surgical from $495.00 to $575.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Leerink Partners boosted their price target on Intuitive Surgical from $489.00 to $502.00 in a report on Thursday, October 17th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Intuitive Surgical in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $526.06.

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.