Polar Asset Management Partners Inc. Trims Stake in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Polar Asset Management Partners Inc. cut its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 66.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 40,558 shares of the medical equipment provider’s stock after selling 80,142 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in Intuitive Surgical were worth $19,925,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Valeo Financial Advisors LLC lifted its holdings in Intuitive Surgical by 9.8% during the 2nd quarter. Valeo Financial Advisors LLC now owns 3,639 shares of the medical equipment provider’s stock worth $1,619,000 after buying an additional 326 shares during the last quarter. Warther Private Wealth LLC acquired a new position in Intuitive Surgical in the second quarter valued at approximately $484,000. Salem Investment Counselors Inc. increased its stake in Intuitive Surgical by 2.0% in the second quarter. Salem Investment Counselors Inc. now owns 62,231 shares of the medical equipment provider’s stock valued at $27,683,000 after purchasing an additional 1,206 shares during the last quarter. Strategic Advocates LLC raised its holdings in Intuitive Surgical by 1.9% during the second quarter. Strategic Advocates LLC now owns 10,013 shares of the medical equipment provider’s stock worth $4,454,000 after purchasing an additional 184 shares in the last quarter. Finally, Cherrydale Wealth Management LLC purchased a new stake in shares of Intuitive Surgical during the 2nd quarter worth approximately $207,000. 83.64% of the stock is owned by institutional investors and hedge funds.

Intuitive Surgical Stock Down 0.2 %

Shares of NASDAQ:ISRG opened at $541.71 on Wednesday. The business has a fifty day simple moving average of $512.25 and a 200-day simple moving average of $471.53. Intuitive Surgical, Inc. has a 52 week low of $304.50 and a 52 week high of $552.00. The company has a market cap of $192.95 billion, a P/E ratio of 87.09, a P/E/G ratio of 5.34 and a beta of 1.38.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings results on Thursday, October 17th. The medical equipment provider reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.32. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.01 billion. Intuitive Surgical had a net margin of 28.51% and a return on equity of 13.41%. Sell-side analysts expect that Intuitive Surgical, Inc. will post 5.45 earnings per share for the current fiscal year.

Insider Activity at Intuitive Surgical

In other news, EVP Robert Desantis sold 188 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $506.52, for a total transaction of $95,225.76. Following the completion of the sale, the executive vice president now owns 5,506 shares of the company’s stock, valued at approximately $2,788,899.12. This trade represents a 3.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jamie Samath sold 108 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $542.06, for a total transaction of $58,542.48. Following the completion of the sale, the chief financial officer now directly owns 8,757 shares of the company’s stock, valued at $4,746,819.42. The trade was a 1.22 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,023 shares of company stock worth $26,384,247. 0.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ISRG has been the subject of several research reports. Citigroup upped their price target on shares of Intuitive Surgical from $512.00 to $560.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Piper Sandler reissued an “overweight” rating and set a $538.00 price target (up previously from $495.00) on shares of Intuitive Surgical in a report on Friday, October 18th. Truist Financial increased their price objective on Intuitive Surgical from $520.00 to $570.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Oppenheimer reissued a “market perform” rating on shares of Intuitive Surgical in a report on Friday, October 18th. Finally, BTIG Research increased their price target on Intuitive Surgical from $535.00 to $561.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $536.61.

Intuitive Surgical Company 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.