Manning & Napier Advisors LLC Decreases Stock Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Manning & Napier Advisors LLC lowered its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 12.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 169,770 shares of the medical equipment provider’s stock after selling 24,120 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Intuitive Surgical were worth $88,613,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of ISRG. AQR Capital Management LLC increased its holdings in shares of Intuitive Surgical by 12.6% during the second quarter. AQR Capital Management LLC now owns 42,691 shares of the medical equipment provider’s stock valued at $18,958,000 after acquiring an additional 4,775 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Intuitive Surgical by 8.2% in the 2nd quarter. NewEdge Advisors LLC now owns 13,825 shares of the medical equipment provider’s stock worth $6,150,000 after buying an additional 1,044 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in Intuitive Surgical by 2.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 20,458 shares of the medical equipment provider’s stock worth $9,100,000 after buying an additional 411 shares during the period. Quarry LP increased its holdings in Intuitive Surgical by 134.7% in the 2nd quarter. Quarry LP now owns 115 shares of the medical equipment provider’s stock worth $51,000 after buying an additional 66 shares during the period. Finally, EP Wealth Advisors LLC increased its holdings in Intuitive Surgical by 0.4% in the 2nd quarter. EP Wealth Advisors LLC now owns 14,787 shares of the medical equipment provider’s stock worth $6,578,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 83.64% of the company’s stock.

Intuitive Surgical Stock Performance

Shares of ISRG stock traded down $2.99 during trading hours on Wednesday, reaching $571.15. The company had a trading volume of 180,286 shares, compared to its average volume of 1,935,709. Intuitive Surgical, Inc. has a twelve month low of $364.17 and a twelve month high of $616.00. The company has a market capitalization of $203.43 billion, a P/E ratio of 92.01, a price-to-earnings-growth ratio of 5.19 and a beta of 1.39. The stock’s fifty day simple moving average is $548.70 and its 200 day simple moving average is $507.04.

Insider Activity

In related news, Director Amal M. Johnson sold 4,635 shares of the stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $566.60, for a total value of $2,626,191.00. Following the completion of the transaction, the director now owns 12,275 shares of the company’s stock, valued at approximately $6,955,015. This represents a 27.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Robert Desantis sold 376 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $539.00, for a total value of $202,664.00. Following the completion of the transaction, the executive vice president now directly owns 5,506 shares of the company’s stock, valued at $2,967,734. This represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,749 shares of company stock worth $15,303,875. 0.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ISRG shares. Raymond James upped their price objective on Intuitive Surgical from $560.00 to $688.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Jefferies Financial Group upped their price objective on Intuitive Surgical from $475.00 to $575.00 in a research report on Monday. Morgan Stanley upgraded Intuitive Surgical from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $522.00 to $650.00 in a research report on Monday, December 2nd. Oppenheimer restated a “market perform” rating on shares of Intuitive Surgical in a research report on Friday, October 18th. Finally, Erste Group Bank upgraded Intuitive Surgical from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $613.10.

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.