Cinctive Capital Management LP Sells 31,797 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Cinctive Capital Management LP reduced its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 58.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,359 shares of the medical equipment provider’s stock after selling 31,797 shares during the period. Cinctive Capital Management LP’s holdings in Intuitive Surgical were worth $10,984,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ridgewood Investments LLC bought a new position in shares of Intuitive Surgical during the 2nd quarter worth approximately $26,000. Godsey & Gibb Inc. boosted its holdings in shares of Intuitive Surgical by 140.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 60 shares of the medical equipment provider’s stock worth $29,000 after buying an additional 35 shares during the last quarter. LGT Financial Advisors LLC increased its holdings in Intuitive Surgical by 415.4% during the second quarter. LGT Financial Advisors LLC now owns 67 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 54 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in Intuitive Surgical in the third quarter worth about $33,000. Finally, Mark Sheptoff Financial Planning LLC purchased a new position in Intuitive Surgical in the second quarter valued at about $37,000. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Intuitive Surgical Trading Up 0.6 %

Intuitive Surgical stock opened at $542.00 on Monday. The firm has a market cap of $193.05 billion, a P/E ratio of 87.14, a P/E/G ratio of 5.33 and a beta of 1.39. Intuitive Surgical, Inc. has a 1-year low of $304.50 and a 1-year high of $552.00. The firm has a 50-day moving average of $510.03 and a 200-day moving average of $469.49.

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

Insiders Place Their Bets

In other Intuitive Surgical news, General Counsel Gary Loeb sold 300 shares of Intuitive Surgical stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $475.00, for a total value of $142,500.00. Following the completion of the transaction, the general counsel now directly owns 1,595 shares of the company’s stock, valued at approximately $757,625. The trade was a 15.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gary S. Guthart sold 18,151 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $511.63, for a total value of $9,286,596.13. Following the transaction, the chief executive officer now directly owns 24,219 shares in the company, valued at approximately $12,391,166.97. The trade was a 42.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,459 shares of company stock worth $26,080,251. 0.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Royal Bank of Canada lifted their price target on shares of Intuitive Surgical from $525.00 to $555.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Stifel Nicolaus increased their price target on Intuitive Surgical from $475.00 to $525.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Robert W. Baird raised their price objective on shares of Intuitive Surgical from $503.00 to $565.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Raymond James raised their target price on Intuitive Surgical from $500.00 to $540.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Oppenheimer restated a “market perform” rating on shares of Intuitive Surgical in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $536.61.

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.