PNC Financial Services Group Inc. Sells 2,193 Shares of Intuitive Surgical, Inc. $ISRG

PNC Financial Services Group Inc. cut its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 1.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 131,654 shares of the medical equipment provider’s stock after selling 2,193 shares during the period. PNC Financial Services Group Inc.’s holdings in Intuitive Surgical were worth $58,879,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ISRG. Uniting Wealth Partners LLC purchased a new stake in Intuitive Surgical during the third quarter valued at approximately $679,000. Investment Partners LTD. boosted its holdings in shares of Intuitive Surgical by 5.5% in the 3rd quarter. Investment Partners LTD. now owns 1,144 shares of the medical equipment provider’s stock worth $512,000 after purchasing an additional 60 shares during the period. NorthStar Asset Management LLC NJ increased its position in shares of Intuitive Surgical by 5.7% during the 3rd quarter. NorthStar Asset Management LLC NJ now owns 553 shares of the medical equipment provider’s stock valued at $247,000 after purchasing an additional 30 shares during the last quarter. Aberdeen Group plc raised its holdings in Intuitive Surgical by 19.2% during the 3rd quarter. Aberdeen Group plc now owns 388,076 shares of the medical equipment provider’s stock valued at $173,559,000 after buying an additional 62,446 shares during the period. Finally, GF Fund Management CO. LTD. lifted its position in Intuitive Surgical by 4.2% in the third quarter. GF Fund Management CO. LTD. now owns 79,850 shares of the medical equipment provider’s stock worth $35,711,000 after buying an additional 3,209 shares during the last quarter. Institutional investors own 83.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ISRG. Raymond James Financial boosted their price objective on shares of Intuitive Surgical from $603.00 to $615.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. Mizuho set a $575.00 price target on shares of Intuitive Surgical in a report on Wednesday, October 22nd. Daiwa Securities Group increased their price objective on shares of Intuitive Surgical from $510.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, October 24th. Leerink Partners boosted their target price on Intuitive Surgical from $593.00 to $600.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Finally, BTIG Research reaffirmed a “buy” rating and set a $616.00 target price on shares of Intuitive Surgical in a research note on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $617.23.

Insider Transactions at Intuitive Surgical

In other Intuitive Surgical news, Director Gary S. Guthart sold 24,500 shares of the stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $530.10, for a total transaction of $12,987,450.00. Following the transaction, the director directly owned 3,694 shares in the company, valued at $1,958,189.40. This represents a 86.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Mark Brosius sold 4,500 shares of the business’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $547.36, for a total transaction of $2,463,120.00. Following the completion of the sale, the senior vice president owned 907 shares of the company’s stock, valued at approximately $496,455.52. This represents a 83.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 56,189 shares of company stock worth $30,785,441. Corporate insiders own 0.70% of the company’s stock.

Intuitive Surgical Stock Performance

Shares of NASDAQ:ISRG opened at $485.84 on Tuesday. The firm’s 50 day simple moving average is $540.00 and its 200-day simple moving average is $510.44. Intuitive Surgical, Inc. has a one year low of $425.00 and a one year high of $609.08. The firm has a market cap of $172.54 billion, a PE ratio of 61.58, a price-to-earnings-growth ratio of 3.76 and a beta of 1.65.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings data on Thursday, January 22nd. The medical equipment provider reported $2.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.26. The company had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.72 billion. Intuitive Surgical had a return on equity of 15.06% and a net margin of 28.38%.Intuitive Surgical’s revenue was up 18.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.21 earnings per share. Equities research analysts predict that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

About Intuitive Surgical

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon’s hand movements into finer, scaled motions of small instruments inside the patient. Intuitive’s business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.