State of Alaska Department of Revenue reduced its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 10.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,253 shares of the medical equipment provider’s stock after selling 1,885 shares during the period. State of Alaska Department of Revenue’s holdings in Intuitive Surgical were worth $8,523,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the stock. Manchester Financial Inc. acquired a new position in Intuitive Surgical in the 2nd quarter valued at $25,000. Icon Wealth Partners LLC acquired a new position in Intuitive Surgical in the 1st quarter valued at $26,000. Stone House Investment Management LLC acquired a new position in Intuitive Surgical in the 1st quarter valued at $31,000. Advisory Alpha LLC acquired a new position in Intuitive Surgical in the 1st quarter valued at $32,000. Finally, Ellis Investment Partners LLC acquired a new position in Intuitive Surgical in the 1st quarter valued at $34,000. Hedge funds and other institutional investors own 86.25% of the company’s stock.
Shares of NASDAQ ISRG traded down $8.38 during trading on Wednesday, hitting $523.26. 340,092 shares of the company traded hands, compared to its average volume of 614,208. Intuitive Surgical, Inc. has a 1 year low of $430.24 and a 1 year high of $589.32. The stock has a 50-day moving average of $524.90. The company has a market cap of $60.81 billion, a price-to-earnings ratio of 55.14, a P/E/G ratio of 3.92 and a beta of 1.08.
In related news, EVP Curet Myriam sold 4,974 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $532.14, for a total transaction of $2,646,864.36. Following the completion of the sale, the executive vice president now directly owns 3,851 shares of the company’s stock, valued at approximately $2,049,271.14. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Jamie Samath sold 130 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $500.60, for a total transaction of $65,078.00. Following the sale, the vice president now directly owns 219 shares of the company’s stock, valued at $109,631.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,518 shares of company stock valued at $17,124,771. 1.70% of the stock is owned by corporate insiders.
ISRG has been the subject of several analyst reports. Morgan Stanley set a $620.00 price target on Intuitive Surgical and gave the company a “buy” rating in a report on Friday, July 19th. ValuEngine downgraded Intuitive Surgical from a “hold” rating to a “sell” rating in a report on Friday, July 12th. Piper Jaffray Companies boosted their price target on Intuitive Surgical from $610.00 to $633.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Raymond James cut their price target on Intuitive Surgical from $630.00 to $610.00 and set an “outperform” rating for the company in a report on Monday, April 22nd. Finally, Citigroup lowered their price objective on shares of Intuitive Surgical from $611.00 to $575.00 and set a “buy” rating for the company in a research note on Tuesday, May 14th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $579.92.
Intuitive Surgical Company Profile
Intuitive Surgical, Inc designs, manufactures, and markets da Vinci surgical systems, and related instruments and accessories. Its da Vinci Surgical System transforms the surgeon's natural hand movements outside the body into corresponding micro-movements inside the patient's body. The company's da Vinci Surgical System include surgeon's consoles, patient-side carts, 3-D vision systems, da Vinci skills simulators, da Vinci Xi integrated table motions, and Firefly fluorescence imaging products that enable surgeons to perform various surgical procedures, including gynecologic, urologic, general, cardiothoracic, and head and neck surgical procedures.
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