Jennison Associates LLC Sells 567,770 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Jennison Associates LLC decreased its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 16.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,811,315 shares of the medical equipment provider’s stock after selling 567,770 shares during the period. Intuitive Surgical makes up about 0.9% of Jennison Associates LLC’s investment portfolio, making the stock its 27th largest holding. Jennison Associates LLC’s holdings in Intuitive Surgical were worth $1,467,394,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA bought a new stake in shares of Intuitive Surgical in the third quarter worth $558,807,000. International Assets Investment Management LLC increased its position in shares of Intuitive Surgical by 49,383.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,090,619 shares of the medical equipment provider’s stock worth $535,788,000 after purchasing an additional 1,088,415 shares during the last quarter. FMR LLC raised its stake in shares of Intuitive Surgical by 8.3% during the 3rd quarter. FMR LLC now owns 10,971,085 shares of the medical equipment provider’s stock worth $5,389,765,000 after purchasing an additional 838,793 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in shares of Intuitive Surgical by 15,322.2% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 555,661 shares of the medical equipment provider’s stock valued at $272,980,000 after buying an additional 552,058 shares during the last quarter. Finally, State Street Corp lifted its stake in Intuitive Surgical by 1.4% in the 3rd quarter. State Street Corp now owns 15,050,121 shares of the medical equipment provider’s stock valued at $7,393,673,000 after purchasing an additional 210,363 shares during the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.

Insider Buying and Selling at Intuitive Surgical

In other news, EVP Robert Desantis sold 376 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $539.00, for a total transaction of $202,664.00. Following the sale, the executive vice president now directly owns 5,506 shares of the company’s stock, valued at $2,967,734. The trade was a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jamie Samath sold 108 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $542.06, for a total value of $58,542.48. Following the completion of the transaction, the chief financial officer now directly owns 8,757 shares of the company’s stock, valued at $4,746,819.42. The trade was a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,843 shares of company stock valued at $15,357,560 in the last quarter. 0.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ISRG. UBS Group increased their price objective on Intuitive Surgical from $500.00 to $560.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Jefferies Financial Group raised their price target on shares of Intuitive Surgical from $475.00 to $575.00 in a research note on Monday, January 27th. Evercore ISI upped their price objective on shares of Intuitive Surgical from $490.00 to $530.00 in a research note on Monday, January 27th. Truist Financial boosted their price target on Intuitive Surgical from $640.00 to $666.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Finally, CICC Research initiated coverage on Intuitive Surgical in a research report on Monday, January 27th. They issued a “neutral” rating and a $550.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $613.10.

Intuitive Surgical Price Performance

Shares of NASDAQ ISRG opened at $571.88 on Monday. The stock has a market capitalization of $203.69 billion, a P/E ratio of 89.22, a PEG ratio of 5.51 and a beta of 1.39. The business’s 50 day moving average is $550.40 and its two-hundred day moving average is $510.02. Intuitive Surgical, Inc. has a 1-year low of $364.17 and a 1-year high of $616.00.

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.