A couple of posts ago, I said that I’d be looking to sell Intuitive Surgical (ISRG) out of my Jubak Picks Portfolio. The stock, added to this portfolio on February 15, 2021, had hit and then moved beyond my $860 a share target price after a stronger than expected report on first quarter earnings. I said then that I’d hold on for a few more days to see if the market as a whole got a strong bounce out of BIG TECH earnings this week. Those technology companies are delivering the earnings growth that Wall Street analysts had projected, but even those reports haven’t been enough to create much momentum for stocks in general.
So today, April 28, I’m selling this position out of my 12-18 month Jubak Picks Portfolio with a 9.39% gain since February 15. I think the shares are fully valued here (or perhaps over-valued if there is such a thing anymore in this market) and I’d like to have some more cash just in case”something” creates a little volatility in the financial markets.
I’m keeping the stock in my long-term 50 Stocks Portfolio. That position is up 74.59% since I initiated it on January 28, 2019.