Intuitive Surgical (NASDAQ:ISRG) Shares Gap Down – Time to Sell?

Intuitive Surgical, Inc. (NASDAQ:ISRG) shares gapped down before the market opened on Friday . The stock had previously closed at $608.66, but opened at $581.90. Intuitive Surgical shares last traded at $584.78, with a volume of 1,014,956 shares.

Analyst Ratings Changes

Several brokerages recently commented on ISRG. Piper Sandler reissued an “overweight” rating and issued a $538.00 price target (up previously from $495.00) on shares of Intuitive Surgical in a research note on Friday, October 18th. The Goldman Sachs Group set a $604.00 target price on shares of Intuitive Surgical in a research report on Friday, October 18th. Oppenheimer restated a “market perform” rating on shares of Intuitive Surgical in a research note on Friday, October 18th. Erste Group Bank raised Intuitive Surgical from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Finally, Leerink Partners upped their target price on shares of Intuitive Surgical from $489.00 to $502.00 in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $566.83.

Intuitive Surgical Stock Down 4.3 %

The business has a fifty day moving average of $546.03 and a 200 day moving average of $503.38. The firm has a market cap of $207.42 billion, a P/E ratio of 93.47, a P/E/G ratio of 5.19 and a beta of 1.39.

Insider Transactions at Intuitive Surgical

In related news, EVP Robert Desantis sold 188 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $506.52, for a total transaction of $95,225.76. Following the completion of the transaction, the executive vice president now directly owns 5,506 shares in the company, valued at approximately $2,788,899.12. This trade represents a 3.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jamie Samath sold 22,903 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $525.00, for a total value of $12,024,075.00. Following the transaction, the insider now directly owns 8,757 shares of the company’s stock, valued at approximately $4,597,425. This trade represents a 72.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,475 shares of company stock valued at $22,070,807 over the last three months. 0.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intuitive Surgical

A number of institutional investors have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA bought a new position in shares of Intuitive Surgical during the third quarter worth approximately $558,807,000. International Assets Investment Management LLC increased its position in 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 buying an additional 1,088,415 shares during the period. FMR LLC lifted its holdings in shares of Intuitive Surgical by 8.3% during the third quarter. FMR LLC now owns 10,971,085 shares of the medical equipment provider’s stock worth $5,389,765,000 after buying an additional 838,793 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its position in shares of Intuitive Surgical by 15,322.2% in the third quarter. Wilmington Savings Fund Society FSB now owns 555,661 shares of the medical equipment provider’s stock valued at $272,980,000 after acquiring an additional 552,058 shares during the period. Finally, State Street Corp grew its stake 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 acquiring an additional 210,363 shares in the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

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.