Traynor Capital Management Inc. Boosts Stock Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Traynor Capital Management Inc. boosted its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 13.1% during the fourth quarter, HoldingsChannel reports. The fund owned 41,134 shares of the medical equipment provider’s stock after buying an additional 4,771 shares during the period. Intuitive Surgical comprises 1.4% of Traynor Capital Management Inc.’s holdings, making the stock its 11th biggest position. Traynor Capital Management Inc.’s holdings in Intuitive Surgical were worth $21,470,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Epoch Investment Partners Inc. lifted its stake in Intuitive Surgical by 7.1% during the second quarter. Epoch Investment Partners Inc. now owns 1,036 shares of the medical equipment provider’s stock worth $461,000 after purchasing an additional 69 shares in the last quarter. Evergreen Capital Management LLC lifted its stake in Intuitive Surgical by 1.6% during the second quarter. Evergreen Capital Management LLC now owns 4,007 shares of the medical equipment provider’s stock worth $1,783,000 after purchasing an additional 64 shares in the last quarter. Insigneo Advisory Services LLC lifted its stake in Intuitive Surgical by 14.1% during the second quarter. Insigneo Advisory Services LLC now owns 3,729 shares of the medical equipment provider’s stock worth $1,633,000 after purchasing an additional 460 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in Intuitive Surgical by 3.4% during the second quarter. Point72 Asset Management L.P. now owns 571,467 shares of the medical equipment provider’s stock worth $254,217,000 after purchasing an additional 18,591 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new stake in Intuitive Surgical during the 2nd quarter worth about $55,460,000. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Intuitive Surgical Trading Up 1.0 %

Intuitive Surgical stock opened at $610.45 on Thursday. Intuitive Surgical, Inc. has a twelve month low of $362.14 and a twelve month high of $614.72. The stock has a 50 day moving average of $543.14 and a two-hundred day moving average of $501.89. The stock has a market capitalization of $217.43 billion, a price-to-earnings ratio of 98.14, a PEG ratio of 5.13 and a beta of 1.39.

Analysts Set New Price Targets

Several brokerages have weighed in on ISRG. Royal Bank of Canada upped their price target on Intuitive Surgical from $525.00 to $555.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Morgan Stanley upgraded Intuitive Surgical from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $522.00 to $650.00 in a report on Monday, December 2nd. Piper Sandler reiterated an “overweight” rating and issued a $538.00 price objective (up previously from $495.00) on shares of Intuitive Surgical in a report on Friday, October 18th. Leerink Partners increased their price objective on Intuitive Surgical from $489.00 to $502.00 in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. increased their price objective on Intuitive Surgical from $495.00 to $575.00 and gave the company an “overweight” rating in a report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $554.17.

Insiders Place Their Bets

In other news, insider Jamie Samath sold 22,903 shares of the firm’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 completion of the sale, the insider now directly owns 8,757 shares of the company’s stock, valued at $4,597,425. This trade represents a 72.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert Desantis sold 1,012 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $514.00, for a total value of $520,168.00. Following the completion of the sale, the executive vice president now directly owns 5,506 shares of the company’s stock, valued at $2,830,084. This represents a 15.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,487 shares of company stock valued at $22,590,975. 0.90% of the stock is owned by company insiders.

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.