Bank of New York Mellon Corp Sells 286,316 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Bank of New York Mellon Corp reduced its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 5.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,102,587 shares of the medical equipment provider’s stock after selling 286,316 shares during the period. Intuitive Surgical accounts for 0.5% of Bank of New York Mellon Corp’s holdings, making the stock its 27th biggest holding. Bank of New York Mellon Corp owned about 1.43% of Intuitive Surgical worth $2,663,346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

ISRG has been the topic of several recent research reports. Piper Sandler reiterated an “overweight” rating and set a $670.00 target price (up from $538.00) on shares of Intuitive Surgical in a report on Friday, January 24th. Erste Group Bank raised shares of Intuitive Surgical from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Stifel Nicolaus upped their target price on Intuitive Surgical from $525.00 to $610.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Leerink Partners lifted their price target on Intuitive Surgical from $490.00 to $548.00 in a report on Monday, January 27th. Finally, Evercore ISI upped their price objective on Intuitive Surgical from $490.00 to $530.00 in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $613.10.

Insider Buying and Selling at Intuitive Surgical

In related news, CFO Jamie Samath sold 270 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $540.15, for a total transaction of $145,840.50. Following the completion of the transaction, the chief financial officer now owns 8,757 shares of the company’s stock, valued at $4,730,093.55. This trade represents a 2.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Robert Desantis sold 376 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $539.00, for a total transaction of $202,664.00. Following the transaction, the executive vice president now owns 5,506 shares of the company’s stock, valued at $2,967,734. This represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,240 shares of company stock worth $3,529,040. 0.90% of the stock is currently owned by insiders.

Intuitive Surgical Price Performance

NASDAQ ISRG opened at $591.01 on Tuesday. The company has a market cap of $210.51 billion, a price-to-earnings ratio of 92.20, a PEG ratio of 5.85 and a beta of 1.39. The stock’s fifty day moving average price is $566.43 and its 200 day moving average price is $526.49. Intuitive Surgical, Inc. has a 1 year low of $364.17 and a 1 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.