Kayne Anderson Rudnick Investment Management LLC Sells 210 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Kayne Anderson Rudnick Investment Management LLC cut its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 2.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,893 shares of the medical equipment provider’s stock after selling 210 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Intuitive Surgical were worth $4,401,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ISRG. Alaethes Wealth LLC lifted its stake in Intuitive Surgical by 0.8% during the second quarter. Alaethes Wealth LLC now owns 5,449 shares of the medical equipment provider’s stock worth $2,424,000 after purchasing an additional 41 shares during the last quarter. Legacy Financial Advisors Inc. lifted its position in shares of Intuitive Surgical by 5.4% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 1,976 shares of the medical equipment provider’s stock worth $879,000 after buying an additional 101 shares during the last quarter. Summit Trail Advisors LLC boosted its stake in Intuitive Surgical by 3.3% in the second quarter. Summit Trail Advisors LLC now owns 4,714 shares of the medical equipment provider’s stock valued at $2,097,000 after buying an additional 152 shares in the last quarter. Garden State Investment Advisory Services LLC grew its position in Intuitive Surgical by 7.9% in the second quarter. Garden State Investment Advisory Services LLC now owns 956 shares of the medical equipment provider’s stock valued at $425,000 after acquiring an additional 70 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Intuitive Surgical by 1.4% in the second quarter. Sei Investments Co. now owns 527,686 shares of the medical equipment provider’s stock worth $234,734,000 after acquiring an additional 7,080 shares during the last quarter. Institutional investors own 83.64% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Citigroup lifted their price target on shares of Intuitive Surgical from $512.00 to $560.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. The Goldman Sachs Group started coverage on shares of Intuitive Surgical in a report on Thursday, May 30th. They set a “buy” rating and a $500.00 price target for the company. Barclays raised their price objective on Intuitive Surgical from $430.00 to $490.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. Stifel Nicolaus upped their target price on Intuitive Surgical from $430.00 to $475.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Finally, Piper Sandler lifted their price target on Intuitive Surgical from $490.00 to $495.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $446.45.

Insider Activity

In related news, Director Craig H. Barratt sold 1,400 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $458.13, for a total transaction of $641,382.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Intuitive Surgical news, EVP Myriam Curet sold 2,818 shares of Intuitive Surgical stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $458.13, for a total transaction of $1,291,010.34. Following the completion of the transaction, the executive vice president now owns 298 shares in the company, valued at approximately $136,522.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Craig H. Barratt sold 1,400 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $458.13, for a total value of $641,382.00. The disclosure for this sale can be found here. Insiders sold a total of 53,120 shares of company stock worth $25,528,753 in the last three months. Company insiders own 0.90% of the company’s stock.

Intuitive Surgical Stock Performance

Shares of ISRG stock opened at $486.20 on Monday. Intuitive Surgical, Inc. has a fifty-two week low of $254.85 and a fifty-two week high of $496.18. The stock has a 50 day simple moving average of $468.01 and a two-hundred day simple moving average of $425.38. The company has a market cap of $172.46 billion, a P/E ratio of 87.76, a PEG ratio of 5.41 and a beta of 1.39.

Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Thursday, July 18th. The medical equipment provider reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.24. Intuitive Surgical had a net margin of 27.65% and a return on equity of 13.04%. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period in the prior year, the firm earned $1.18 earnings per share. Intuitive Surgical’s revenue was up 14.5% on a year-over-year basis. On average, research analysts predict that Intuitive Surgical, Inc. will post 5.22 earnings per share for the current year.

Intuitive Surgical Company 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.