Corebridge Financial Inc. Boosts Stake in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Corebridge Financial Inc. increased its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 0.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 110,954 shares of the medical equipment provider’s stock after buying an additional 770 shares during the quarter. Corebridge Financial Inc.’s holdings in Intuitive Surgical were worth $57,914,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ISRG. Bennett Selby Investments LP increased its position in Intuitive Surgical by 3.9% during the 4th quarter. Bennett Selby Investments LP now owns 449 shares of the medical equipment provider’s stock worth $234,000 after purchasing an additional 17 shares in the last quarter. Onefund LLC grew its holdings in shares of 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 in the last quarter. LVW Advisors LLC raised its position 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 buying an additional 19 shares during the last quarter. Wesbanco Bank Inc. lifted its stake in shares of Intuitive Surgical by 1.6% during the fourth quarter. Wesbanco Bank Inc. now owns 1,216 shares of the medical equipment provider’s stock valued at $635,000 after buying an additional 19 shares during the period. Finally, Journey Strategic Wealth LLC boosted its position in Intuitive Surgical by 1.9% during the fourth quarter. Journey Strategic Wealth LLC now owns 1,039 shares of the medical equipment provider’s stock worth $542,000 after acquiring an additional 19 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Analysts Set New Price Targets

ISRG has been the subject of several analyst reports. Truist Financial cut their price target on Intuitive Surgical from $666.00 to $605.00 and set a “buy” rating for the company in a report on Monday, March 17th. Piper Sandler reiterated an “overweight” rating and set a $670.00 target price (up from $538.00) on shares of Intuitive Surgical in a research report on Friday, January 24th. Barclays lifted their price target on Intuitive Surgical from $610.00 to $674.00 in a report on Monday, January 27th. Raymond James increased their price objective on shares of Intuitive Surgical from $560.00 to $688.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Finally, BTIG Research boosted their target price on shares of Intuitive Surgical from $535.00 to $561.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $611.86.

Insider Buying and Selling at Intuitive Surgical

In related news, CFO Jamie Samath sold 94 shares of the firm’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $571.11, for a total transaction of $53,684.34. Following the completion of the sale, the chief financial officer now directly owns 2,630 shares of the company’s stock, valued at approximately $1,502,019.30. This trade represents a 3.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Amal M. Johnson sold 4,635 shares of Intuitive Surgical stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $566.60, for a total transaction of $2,626,191.00. Following the sale, the director now directly owns 12,275 shares in the company, valued at $6,955,015. This trade represents a 27.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,754 shares of company stock valued at $17,691,621 over the last 90 days. 0.90% of the stock is owned by corporate insiders.

Intuitive Surgical Stock Performance

Shares of NASDAQ:ISRG opened at $492.49 on Monday. The business’s 50-day simple moving average is $562.24 and its 200 day simple moving average is $532.03. The company has a market cap of $175.41 billion, a P/E ratio of 76.83, a PEG ratio of 5.85 and a beta of 1.43. Intuitive Surgical, Inc. has a one year low of $364.17 and a one year 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.