Allstate Corp Acquires New Stake in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Allstate Corp bought a new position in Intuitive Surgical, Inc. (NASDAQ:ISRG) during the 4th quarter, Holdings Channel reports. The institutional investor bought 10,491 shares of the medical equipment provider’s stock, valued at approximately $5,476,000.

Other institutional investors have also recently modified their holdings of the company. Atala Financial Inc bought a new position in Intuitive Surgical in the 4th quarter worth about $25,000. Berbice Capital Management LLC purchased a new position in Intuitive Surgical in the fourth quarter worth about $26,000. BankPlus Trust Department bought a new position in shares of Intuitive Surgical in the fourth quarter worth approximately $28,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Intuitive Surgical during the fourth quarter valued at approximately $31,000. Finally, Decker Retirement Planning Inc. bought a new stake in shares of Intuitive Surgical during the fourth quarter valued at approximately $36,000. 83.64% of the stock is owned by hedge funds and other institutional investors.

Intuitive Surgical Trading Down 3.2 %

Intuitive Surgical stock opened at $491.84 on Friday. Intuitive Surgical, Inc. has a 12-month low of $364.17 and a 12-month high of $616.00. The firm has a market capitalization of $175.18 billion, a price-to-earnings ratio of 76.73, a P/E/G ratio of 5.85 and a beta of 1.43. The firm has a 50 day moving average of $556.28 and a 200 day moving average of $532.34.

Insider Transactions at Intuitive Surgical

In other news, CFO Jamie Samath sold 94 shares of the company’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $571.11, for a total value of $53,684.34. Following the completion of the transaction, the chief financial officer now owns 2,630 shares of the company’s stock, valued at $1,502,019.30. This represents a 3.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 sale, the executive vice president now directly owns 5,224 shares in the company, valued at $2,607,925.28. This trade 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 over the last three months. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

ISRG has been the topic of several recent analyst reports. UBS Group increased their target price on Intuitive Surgical from $500.00 to $560.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Barclays lifted their price objective on Intuitive Surgical from $610.00 to $674.00 in a report on Monday, January 27th. Erste Group Bank cut shares of Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 17th. Leerink Partners lifted their price target on shares of Intuitive Surgical from $490.00 to $548.00 in a research note on Monday, January 27th. Finally, Jefferies Financial Group increased their price objective on shares of Intuitive Surgical from $475.00 to $575.00 in a research report on Monday, January 27th. One 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $611.86.

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.