Franklin Resources Inc. Trims Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Franklin Resources Inc. trimmed its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,304,849 shares of the medical equipment provider’s stock after selling 125,766 shares during the period. Intuitive Surgical makes up about 0.6% of Franklin Resources Inc.’s portfolio, making the stock its 27th biggest position. Franklin Resources Inc. owned about 1.21% of Intuitive Surgical worth $2,246,958,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ISRG. Bennett Selby Investments LP raised its stake in shares of Intuitive Surgical by 3.9% in the 4th quarter. Bennett Selby Investments LP now owns 449 shares of the medical equipment provider’s stock valued at $234,000 after acquiring an additional 17 shares during the period. Onefund LLC raised its position in Intuitive Surgical by 1.9% in the fourth quarter. Onefund LLC now owns 947 shares of the medical equipment provider’s stock valued at $494,000 after purchasing an additional 18 shares during the period. LVW Advisors LLC lifted its stake in Intuitive Surgical by 1.3% during the fourth quarter. LVW Advisors LLC now owns 1,448 shares of the medical equipment provider’s stock worth $756,000 after purchasing an additional 19 shares in the last quarter. Wesbanco Bank Inc. boosted its position in shares of Intuitive Surgical by 1.6% during the fourth quarter. Wesbanco Bank Inc. now owns 1,216 shares of the medical equipment provider’s stock worth $635,000 after buying an additional 19 shares during the period. Finally, Journey Strategic Wealth LLC boosted its position in shares of Intuitive Surgical by 1.9% during the fourth quarter. Journey Strategic Wealth LLC now owns 1,039 shares of the medical equipment provider’s stock worth $542,000 after buying an additional 19 shares during the period. 83.64% of the stock is owned by hedge funds and other institutional investors.

Intuitive Surgical Price Performance

Shares of NASDAQ:ISRG opened at $491.84 on Monday. The stock has a market cap of $175.18 billion, a P/E ratio of 76.73, a P/E/G ratio of 5.85 and a beta of 1.43. Intuitive Surgical, Inc. has a 1-year low of $364.17 and a 1-year high of $616.00. The firm has a fifty day moving average price of $556.28 and a 200 day moving average price of $532.97.

Wall Street Analysts Forecast Growth

ISRG has been the topic of several research reports. Royal Bank of Canada increased their target price on Intuitive Surgical from $611.00 to $641.00 in a research note on Monday, January 27th. Citigroup increased their target price on shares of Intuitive Surgical from $640.00 to $711.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Erste Group Bank cut shares of Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 17th. Stifel Nicolaus upped their price target on Intuitive Surgical from $525.00 to $610.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, Bernstein Bank lifted their price objective on Intuitive Surgical from $655.00 to $700.00 and gave the company an “overweight” rating in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $611.86.

Insider Buying and Selling at Intuitive Surgical

In related news, EVP Brian Edward Miller sold 8,900 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $485.07, for a total transaction of $4,317,123.00. Following the completion of the transaction, the executive vice president now directly owns 5,758 shares of the company’s stock, valued at $2,793,033.06. This represents a 60.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Robert Desantis sold 11,545 shares of Intuitive Surgical stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $499.22, for a total value of $5,763,494.90. Following the completion of the sale, the executive vice president now directly owns 5,224 shares in the company, valued at $2,607,925.28. This represents a 68.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,754 shares of company stock valued at $17,691,621 in the last ninety days. Insiders own 0.70% of the company’s stock.

About Intuitive Surgical

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.