Trust Point Inc. Sells 776 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Trust Point Inc. cut its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 34.3% in the first quarter, Holdings Channel reports. The fund owned 1,486 shares of the medical equipment provider’s stock after selling 776 shares during the period. Trust Point Inc.’s holdings in Intuitive Surgical were worth $736,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Castleark Management LLC grew its holdings in Intuitive Surgical by 3.4% during the 4th quarter. Castleark Management LLC now owns 90,469 shares of the medical equipment provider’s stock worth $47,221,000 after acquiring an additional 2,990 shares during the last quarter. Truist Financial Corp lifted its position in shares of Intuitive Surgical by 3.0% during the fourth quarter. Truist Financial Corp now owns 248,092 shares of the medical equipment provider’s stock worth $129,494,000 after purchasing an additional 7,298 shares in the last quarter. FourThought Financial Partners LLC acquired a new position in shares of Intuitive Surgical during the fourth quarter worth approximately $1,158,000. Longbow Finance SA acquired a new position in shares of Intuitive Surgical during the fourth quarter worth approximately $4,431,000. Finally, AlphaCentric Advisors LLC lifted its position in shares of Intuitive Surgical by 196.5% during the fourth quarter. AlphaCentric Advisors LLC now owns 3,706 shares of the medical equipment provider’s stock worth $1,934,000 after purchasing an additional 2,456 shares in the last quarter. 83.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Barclays reduced their target price on shares of Intuitive Surgical from $684.00 to $635.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft lowered shares of Intuitive Surgical from a “hold” rating to a “sell” rating and reduced their target price for the stock from $515.00 to $440.00 in a research report on Monday, June 9th. Royal Bank of Canada reduced their target price on shares of Intuitive Surgical from $630.00 to $605.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Piper Sandler reduced their target price on shares of Intuitive Surgical from $670.00 to $575.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Finally, Evercore ISI dropped their price target on shares of Intuitive Surgical from $510.00 to $470.00 and set an “in-line” rating for the company in a research note on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $588.95.

Insider Activity

In other news, EVP Robert Desantis sold 188 shares of the company’s stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $515.91, for a total value of $96,991.08. Following the completion of the transaction, the executive vice president now owns 5,224 shares in the company, valued at $2,695,113.84. This represents a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mark Brosius sold 216 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $563.11, for a total transaction of $121,631.76. Following the completion of the transaction, the senior vice president now owns 907 shares of the company’s stock, valued at $510,740.77. This trade represents a 19.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,998 shares of company stock worth $2,611,577 over the last quarter. 0.70% of the stock is currently owned by company insiders.

Intuitive Surgical Stock Performance

Shares of NASDAQ:ISRG opened at $519.04 on Tuesday. Intuitive Surgical, Inc. has a 52 week low of $413.82 and a 52 week high of $616.00. The company has a market capitalization of $186.03 billion, a PE ratio of 80.97, a PEG ratio of 5.85 and a beta of 1.67. The company has a 50 day moving average price of $527.80 and a two-hundred day moving average price of $538.30.

Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Tuesday, April 22nd. The medical equipment provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.71 by $0.10. Intuitive Surgical had a net margin of 27.81% and a return on equity of 14.55%. The firm had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the prior year, the firm earned $1.50 earnings per share. On average, sell-side analysts forecast that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

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.