ARK Investment Management LLC Decreases Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

ARK Investment Management LLC cut its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,450 shares of the medical equipment provider’s stock after selling 354 shares during the quarter. ARK Investment Management LLC’s holdings in Intuitive Surgical were worth $10,152,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in ISRG. Massachusetts Financial Services Co. MA purchased a new position in shares of Intuitive Surgical in the third quarter worth $558,807,000. FMR LLC increased its stake in shares of Intuitive Surgical by 8.3% in the third quarter. FMR LLC now owns 10,971,085 shares of the medical equipment provider’s stock worth $5,389,765,000 after buying an additional 838,793 shares during the period. Wilmington Savings Fund Society FSB increased its stake in shares of Intuitive Surgical by 15,322.2% in the third quarter. Wilmington Savings Fund Society FSB now owns 555,661 shares of the medical equipment provider’s stock worth $272,980,000 after buying an additional 552,058 shares during the period. Strategic Financial Concepts LLC increased its stake in shares of Intuitive Surgical by 50,740.8% in the fourth quarter. Strategic Financial Concepts LLC now owns 312,671 shares of the medical equipment provider’s stock worth $163,202,000 after buying an additional 312,056 shares during the period. Finally, State Street Corp increased its stake in shares of Intuitive Surgical by 1.4% in the third quarter. State Street Corp now owns 15,050,121 shares of the medical equipment provider’s stock worth $7,393,673,000 after buying an additional 210,363 shares during the period. 83.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Jamie Samath sold 188 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $539.00, for a total value of $101,332.00. Following the transaction, the chief financial officer now owns 8,757 shares in the company, valued at $4,720,023. The trade was a 2.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Myriam Curet sold 408 shares of the company’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $589.75, for a total transaction of $240,618.00. Following the completion of the transaction, the executive vice president now owns 353 shares in the company, valued at approximately $208,181.75. The trade was a 53.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,240 shares of company stock worth $3,529,040 in the last quarter. Corporate insiders own 0.80% of the company’s stock.

Intuitive Surgical Price Performance

Shares of Intuitive Surgical stock opened at $573.74 on Wednesday. The stock has a market cap of $204.35 billion, a price-to-earnings ratio of 89.51, a PEG ratio of 5.85 and a beta of 1.39. The firm’s 50-day moving average is $567.01 and its 200 day moving average is $527.27. Intuitive Surgical, Inc. has a 1 year low of $364.17 and a 1 year high of $616.00.

Analysts Set New Price Targets

ISRG has been the topic of several analyst reports. Morgan Stanley raised shares of Intuitive Surgical from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $522.00 to $650.00 in a research note on Monday, December 2nd. UBS Group lifted their price target on shares of Intuitive Surgical from $500.00 to $560.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Stifel Nicolaus lifted their price target on shares of Intuitive Surgical from $525.00 to $610.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Wells Fargo & Company lifted their price target on shares of Intuitive Surgical from $630.00 to $687.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Finally, Royal Bank of Canada lifted their price target on shares of Intuitive Surgical from $611.00 to $641.00 in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the company. According to 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.