Spectrum Wealth Counsel LLC Cuts Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Spectrum Wealth Counsel LLC trimmed its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 8.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 423 shares of the medical equipment provider’s stock after selling 37 shares during the period. Spectrum Wealth Counsel LLC’s holdings in Intuitive Surgical were worth $221,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. M.E. Allison & CO. Inc. acquired a new stake in Intuitive Surgical during the 4th quarter valued at $449,000. Seilern Investment Management Ltd purchased a new position in shares of Intuitive Surgical during the 4th quarter worth $82,517,000. Sycomore Asset Management lifted its stake in shares of Intuitive Surgical by 27.4% during the 4th quarter. Sycomore Asset Management now owns 18,945 shares of the medical equipment provider’s stock worth $9,214,000 after purchasing an additional 4,079 shares during the period. Exome Asset Management LLC raised its position in shares of Intuitive Surgical by 16.8% in the 3rd quarter. Exome Asset Management LLC now owns 7,427 shares of the medical equipment provider’s stock worth $3,649,000 after buying an additional 1,069 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its position in shares of Intuitive Surgical by 5.6% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,843 shares of the medical equipment provider’s stock worth $5,138,000 after buying an additional 525 shares during the period. 83.64% of the stock is owned by hedge funds and other institutional investors.

Intuitive Surgical Stock Performance

NASDAQ:ISRG opened at $573.15 on Friday. The company has a market capitalization of $204.14 billion, a price-to-earnings ratio of 89.42, a price-to-earnings-growth ratio of 5.85 and a beta of 1.39. Intuitive Surgical, Inc. has a one year low of $364.17 and a one year high of $616.00. The stock has a 50-day simple moving average of $569.87 and a 200 day simple moving average of $528.64.

Insider Buying and Selling

In other Intuitive Surgical news, CFO Jamie Samath sold 269 shares of Intuitive Surgical stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $590.00, for a total value of $158,710.00. Following the completion of the transaction, the chief financial officer now directly owns 3,282 shares in the company, valued at $1,936,380. The trade was a 7.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Myriam Curet sold 2,401 shares of Intuitive Surgical stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $581.00, for a total value of $1,394,981.00. Following the completion of the transaction, the executive vice president now owns 353 shares of the company’s stock, valued at approximately $205,093. The trade was a 87.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,077 shares of company stock worth $4,620,025. Corporate insiders own 0.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ISRG. Morgan Stanley raised Intuitive Surgical from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $522.00 to $650.00 in a research report on Monday, December 2nd. Piper Sandler reaffirmed an “overweight” rating and issued a $670.00 target price (up from $538.00) on shares of Intuitive Surgical in a research report on Friday, January 24th. Jefferies Financial Group raised their price objective on Intuitive Surgical from $475.00 to $575.00 in a research report on Monday, January 27th. Evercore ISI raised their price objective on Intuitive Surgical from $490.00 to $530.00 in a research report on Monday, January 27th. Finally, Royal Bank of Canada raised their price objective on Intuitive Surgical from $611.00 to $641.00 in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $613.10.

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.