Intuitive Surgical, Inc. $ISRG Shares Purchased by Renaissance Investment Group LLC

Renaissance Investment Group LLC increased its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 7.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,539 shares of the medical equipment provider’s stock after buying an additional 2,170 shares during the period. Intuitive Surgical comprises 2.5% of Renaissance Investment Group LLC’s investment portfolio, making the stock its 17th largest holding. Renaissance Investment Group LLC’s holdings in Intuitive Surgical were worth $12,011,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bank of America Corp DE raised its stake in Intuitive Surgical by 3.3% during the 1st quarter. Bank of America Corp DE now owns 3,616,973 shares of the medical equipment provider’s stock worth $1,667,388,000 after acquiring an additional 116,292 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Intuitive Surgical during the second quarter worth about $1,335,753,000. Amundi grew its holdings in shares of Intuitive Surgical by 8.6% during the first quarter. Amundi now owns 2,428,356 shares of the medical equipment provider’s stock worth $1,119,448,000 after purchasing an additional 193,096 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Intuitive Surgical by 95.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,105,544 shares of the medical equipment provider’s stock worth $970,635,000 after purchasing an additional 1,027,475 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Intuitive Surgical by 3.7% during the first quarter. Janus Henderson Group PLC now owns 1,643,060 shares of the medical equipment provider’s stock worth $757,489,000 after purchasing an additional 58,587 shares in the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Patricia L. Wadors sold 1,078 shares of Intuitive Surgical stock in a transaction that occurred on Friday, October 23rd. The stock was sold at an average price of $443.80, for a total value of $478,416.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gary S. Guthart sold 20,095 shares of the company’s stock in a transaction on Friday, October 23rd. The stock was sold at an average price of $451.61, for a total transaction of $9,075,102.95. Following the transaction, the director directly owned 1,204,530 shares in the company, valued at approximately $543,977,793.30. This trade represents a 1.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 38,778 shares of company stock worth $16,814,967. 0.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Leerink Partners set a $503.00 target price on Intuitive Surgical and gave the company an “outperform” rating in a research report on Wednesday, October 21st. BTIG Research reaffirmed a “buy” rating and set a $454.00 price target on shares of Intuitive Surgical in a research report on Wednesday, October 21st. Citigroup reduced their price objective on Intuitive Surgical from $590.00 to $500.00 and set a “buy” rating for the company in a research note on Friday, July 17th. Wells Fargo & Company reissued an “overweight” rating and issued a $486.00 price objective (down from $487.00) on shares of Intuitive Surgical in a report on Wednesday, October 21st. Finally, Evercore set a $430.00 target price on shares of Intuitive Surgical in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $493.54.

Intuitive Surgical Trading Down 3.7%

Intuitive Surgical stock opened at $432.01 on Friday. The stock has a 50 day moving average of $401.54 and a two-hundred day moving average of $434.05. Intuitive Surgical, Inc. has a twelve month low of $328.57 and a twelve month high of $603.88. The stock has a market capitalization of $149.75 billion, a price-to-earnings ratio of 52.24, a PEG ratio of 3.09 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG) last released its earnings results on Tuesday, October 20th. The medical equipment provider reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.65 by $0.35. Intuitive Surgical had a return on equity of 18.17% and a net margin of 25.54%. The business had revenue of $3.05 billion for the quarter, compared to analyst estimates of $2.91 billion. During the same quarter in the previous year, the company posted $2.40 earnings per share. The company’s revenue for the quarter was up 21.7% compared to the same quarter last year. Equities analysts predict that Intuitive Surgical, Inc. will post 9.37 earnings per share for the current year.

About Intuitive Surgical

Intuitive Surgical, Inc develops and manufactures robotic-assisted systems and related technologies for minimally invasive surgery. Its products are designed to help surgeons perform procedures through small incisions while providing enhanced visualization, precision and control. The company’s primary platform is the da Vinci Surgical System, which is used across a range of specialties, including urology, gynecology, general surgery, cardiothoracic surgery and other procedures.

The company also offers the Ion endoluminal system, which is designed to support minimally invasive lung biopsy procedures.