Manning & Napier Advisors LLC Sells 235,677 Shares of Intuitive Surgical, Inc. $ISRG

Manning & Napier Advisors LLC trimmed its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 98.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,816 shares of the medical equipment provider’s stock after selling 235,677 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Intuitive Surgical were worth $2,758,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of ISRG. Holos Integrated Wealth LLC purchased a new stake in Intuitive Surgical in the 4th quarter worth about $25,000. Newbridge Financial Services Group Inc. lifted its holdings in Intuitive Surgical by 300.0% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 33 shares during the last quarter. Greykasell Wealth Strategies Inc. bought a new position in Intuitive Surgical during the third quarter worth about $27,000. Olistico Wealth LLC bought a new position in Intuitive Surgical during the fourth quarter worth about $28,000. Finally, Caitlin John LLC purchased a new position in shares of Intuitive Surgical in the third quarter worth about $30,000. 83.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Patricia L. Wadors sold 220 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $499.71, for a total value of $109,936.20. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Fredrik Widman sold 133 shares of Intuitive Surgical stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $494.96, for a total transaction of $65,829.68. Following the sale, the vice president owned 660 shares of the company’s stock, valued at approximately $326,673.60. The trade was a 16.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 5,906 shares of company stock worth $2,907,726. Company insiders own 0.60% of the company’s stock.

Intuitive Surgical Stock Performance

Intuitive Surgical stock opened at $450.06 on Friday. Intuitive Surgical, Inc. has a fifty-two week low of $427.84 and a fifty-two week high of $603.88. The stock has a market cap of $159.39 billion, a P/E ratio of 54.55, a PEG ratio of 3.59 and a beta of 1.51. The firm’s fifty day moving average price is $472.19 and its 200-day moving average price is $517.39.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.42. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same quarter last year, the company earned $1.81 earnings per share. The firm’s quarterly revenue was up 23.0% on a year-over-year basis. Sell-side analysts predict that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on ISRG. Argus dropped their price target on shares of Intuitive Surgical from $630.00 to $560.00 and set a “buy” rating on the stock in a research note on Wednesday, February 4th. Sanford C. Bernstein boosted their target price on shares of Intuitive Surgical from $740.00 to $750.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Raymond James Financial cut their price target on Intuitive Surgical from $615.00 to $577.00 and set an “outperform” rating for the company in a report on Wednesday, April 22nd. Jefferies Financial Group decreased their price objective on Intuitive Surgical from $560.00 to $515.00 and set a “hold” rating on the stock in a research note on Wednesday, April 22nd. Finally, Zacks Research cut Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Eighteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Intuitive Surgical presently has an average rating of “Moderate Buy” and an average target price of $581.91.

About Intuitive Surgical

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon’s hand movements into finer, scaled motions of small instruments inside the patient. Intuitive’s business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.