Summit Financial LLC Has $4.40 Million Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Summit Financial LLC increased its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 28.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,427 shares of the medical equipment provider’s stock after purchasing an additional 1,865 shares during the quarter. Summit Financial LLC’s holdings in Intuitive Surgical were worth $4,398,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Atala Financial Inc bought a new position in shares of Intuitive Surgical in the 4th quarter valued at $25,000. Berbice Capital Management LLC acquired a new position in Intuitive Surgical in the 4th quarter worth about $26,000. BankPlus Trust Department bought a new position in Intuitive Surgical in the fourth quarter valued at about $28,000. Summit Securities Group LLC acquired a new stake in shares of Intuitive Surgical during the fourth quarter valued at about $30,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in shares of Intuitive Surgical during the fourth quarter worth about $31,000. Institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Stock Up 0.7 %

NASDAQ ISRG opened at $495.27 on Tuesday. Intuitive Surgical, Inc. has a 52 week low of $364.17 and a 52 week high of $616.00. The business has a 50 day moving average price of $554.33 and a 200-day moving average price of $532.98. The company has a market cap of $176.40 billion, a price-to-earnings ratio of 77.27, a P/E/G ratio of 5.85 and a beta of 1.43.

Wall Street Analyst Weigh In

ISRG has been the topic of several recent research reports. Bernstein Bank lifted their target price on shares of Intuitive Surgical from $655.00 to $700.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. Robert W. Baird reduced their price objective on shares of Intuitive Surgical from $707.00 to $600.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 18th. Erste Group Bank downgraded Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a report on Monday, March 17th. Raymond James increased their price target on Intuitive Surgical from $560.00 to $688.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Finally, Citigroup lifted their price objective on Intuitive Surgical from $640.00 to $711.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $611.86.

Insider Buying and Selling at Intuitive Surgical

In other news, CFO Jamie Samath sold 269 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $590.00, for a total value of $158,710.00. Following the completion of the sale, the chief financial officer now directly owns 3,282 shares of the company’s stock, valued at $1,936,380. This represents a 7.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Amal M. Johnson sold 4,635 shares of Intuitive Surgical stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $566.60, for a total value of $2,626,191.00. Following the transaction, the director now directly owns 12,275 shares in the company, valued at approximately $6,955,015. The trade was a 27.41 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,754 shares of company stock worth $17,691,621. 0.70% of the stock is owned by corporate insiders.

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.