Covenant Asset Management LLC Has $5.69 Million Stake in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Covenant Asset Management LLC lowered its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 1.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 10,907 shares of the medical equipment provider’s stock after selling 183 shares during the period. Intuitive Surgical accounts for approximately 0.9% of Covenant Asset Management LLC’s holdings, making the stock its 16th largest position. Covenant Asset Management LLC’s holdings in Intuitive Surgical were worth $5,693,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. State Street Corp grew its position in shares of Intuitive Surgical by 1.4% in the third 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. FMR LLC grew its holdings in Intuitive Surgical by 8.3% in the 3rd quarter. FMR LLC now owns 10,971,085 shares of the medical equipment provider’s stock valued at $5,389,765,000 after buying an additional 838,793 shares in the last quarter. Geode Capital Management LLC increased its position in Intuitive Surgical by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 7,512,925 shares of the medical equipment provider’s stock worth $3,677,194,000 after buying an additional 143,440 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Intuitive Surgical by 1.8% during the third quarter. Fisher Asset Management LLC now owns 4,782,381 shares of the medical equipment provider’s stock worth $2,349,441,000 after buying an additional 86,208 shares in the last quarter. Finally, Baillie Gifford & Co. boosted its position in shares of Intuitive Surgical by 0.6% in the third quarter. Baillie Gifford & Co. now owns 3,848,547 shares of the medical equipment provider’s stock valued at $1,890,676,000 after acquiring an additional 24,183 shares during the period. 83.64% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Intuitive Surgical news, CFO Jamie Samath sold 108 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $542.06, for a total value of $58,542.48. Following the transaction, the chief financial officer now directly owns 8,757 shares of the company’s stock, valued at approximately $4,746,819.42. The trade was a 1.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Myriam Curet sold 408 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $589.75, for a total transaction of $240,618.00. Following the transaction, the executive vice president now owns 353 shares in the company, valued at $208,181.75. This represents a 53.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,348 shares of company stock worth $3,587,582. 0.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Royal Bank of Canada lifted their price objective on shares of Intuitive Surgical from $611.00 to $641.00 in a research note on Monday, January 27th. Piper Sandler reiterated an “overweight” rating and issued a $670.00 price target (up from $538.00) on shares of Intuitive Surgical in a research note on Friday, January 24th. Leerink Partners raised their price objective on Intuitive Surgical from $490.00 to $548.00 in a research note on Monday, January 27th. Barclays upped their target price on Intuitive Surgical from $610.00 to $674.00 in a research report on Monday, January 27th. Finally, Evercore ISI upped their price objective on shares of Intuitive Surgical from $490.00 to $530.00 in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Intuitive Surgical currently has a consensus rating of “Moderate Buy” and an average price target of $613.10.

Intuitive Surgical Price Performance

Intuitive Surgical stock opened at $595.55 on Friday. The stock’s 50 day moving average is $558.58 and its 200 day moving average is $518.00. Intuitive Surgical, Inc. has a one year low of $364.17 and a one year high of $616.00. The firm has a market cap of $212.12 billion, a P/E ratio of 92.91, a P/E/G ratio of 5.67 and a beta of 1.39.

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.