Clarendon Private LLC Acquires New Shares in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Clarendon Private LLC has recently made a strategic investment in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) during the fourth quarter, as revealed in its latest 13F filing with the Securities and Exchange Commission (SEC). The firm bought 955 shares of the renowned medical equipment provider, amounting to an estimated value of $498,000.

Institutional Investors Also Buy Intuitive Surgical Shares

In addition to Clarendon Private LLC, several hedge funds and institutional investors have actively participated in buying and selling Intuitive Surgical shares in recent times. For instance, State Street Corp expanded its ownership in Intuitive Surgical by 1.4% in the third quarter. As a result, State Street now holds 15,050,121 shares, which are valued at $7.39 billion, having acquired an extra 210,363 shares during that quarter. Similarly, FMR LLC increased its holdings by 8.3%, bringing its total to 10,971,085 shares worth around $5.39 billion after adding 838,793 shares. Another noteworthy investor, Geode Capital Management LLC, raised its stake by 1.9%, now owning 7,512,925 shares valued at approximately $3.68 billion after purchasing 143,440 additional shares recently. Additionally, Fisher Asset Management LLC enhanced its position by 1.8%, contributing an extra 86,208 shares to hold a total of 4,782,381 shares valued at about $2.35 billion. Lastly, Baillie Gifford & Co. increased its investment by 0.6%, with total holdings of 3,848,547 shares worth around $1.89 billion after acquiring another 24,183 shares. Impressively, institutional investors collectively own approximately 83.64% of Intuitive Surgical's stock.

Recent Insider Transactions

In recent corporate developments, CFO Jamie Samath sold 270 shares of the company's stock in a transaction on December 10th, at an average price of $540.15, accumulating a total of approximately $145,840. Following this transaction, the CFO retains ownership of 8,757 shares valued at around $4.73 million, marking a 2.99% decline in their ownership stake. This transaction was formally disclosed in a filing with the SEC. Additionally, CEO Gary S. Guthart sold 18,151 shares on October 30th for an average price of $511.63, totaling approximately $9.29 million. The CEO's remaining ownership now stands at 24,219 shares worth roughly $12.39 million, reflecting a 42.84% decrease. In total, insiders have sold 42,475 shares worth about $22.07 million in the last three months, with insiders currently holding 0.90% of the company's shares.

Market Performance

The shares of ISRG opened at $584.05 on the latest trading day. Intuitive Surgical boasts a market capitalization of approximately $208.03 billion, with a price-to-earnings ratio of 93.90 and a PEG ratio of 5.19, alongside a beta of 1.39. The company's fifty-day moving average stands at $547.16, while the 200-day moving average is at $504.35. In the last twelve months, ISRG hit a low of $364.17 and a high of $616.00.

Analyst Ratings and Predictions

Recent reports from various brokerages have issued updated ratings on Intuitive Surgical. The Goldman Sachs Group set a price target of $604.00 in its report dated October 18th. Oppenheimer maintained a "market perform" rating on the shares, which it reaffirmed in the same timeframe. Wells Fargo & Company raised its price target from $630.00 to $687.00, giving the stock an "overweight" rating. Furthermore, Morgan Stanley upgraded Intuitive Surgical from an "equal weight" to an "overweight" position, with a revised target price of $650.00 on December 2nd. Lastly, Raymond James elevated their price target from $560.00 to $688.00 and assigned an "outperform" rating to the company. According to MarketBeat, one analyst has rated Intuitive Surgical with a sell rating, three have rated it hold, and fifteen issued buy ratings resulting in a consensus recommendation of "Moderate Buy" along with a target price averaging $583.83.

About Intuitive Surgical

Intuitive Surgical, Inc. focuses on the development, manufacturing, and marketing of products that help physicians provide enhanced minimally invasive care worldwide. Known for its innovative da Vinci Surgical System, the company enables complex procedures using a minimally invasive technique. Additionally, the Ion endoluminal system extends its offerings beyond surgery, making it possible to perform minimally invasive biopsies in lung diagnostic procedures.

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