PNC Financial Services Group Inc. Cuts Stake in Intuitive Surgical, Inc. (NASDAQ:ISRG)

PNC Financial Services Group Inc. decreased its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 1.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 133,147 shares of the medical equipment provider’s stock after selling 1,417 shares during the period. PNC Financial Services Group Inc.’s holdings in Intuitive Surgical were worth $65,411,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ISRG. Creekmur Asset Management LLC increased its position in Intuitive Surgical by 200.0% during the 1st quarter. Creekmur Asset Management LLC now owns 63 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 42 shares during the period. Ridgewood Investments LLC purchased a new stake in shares of Intuitive Surgical in the second quarter valued at approximately $26,000. Godsey & Gibb Inc. raised its position in Intuitive Surgical by 140.0% in the third quarter. Godsey & Gibb Inc. now owns 60 shares of the medical equipment provider’s stock worth $29,000 after acquiring an additional 35 shares in the last quarter. LRI Investments LLC acquired a new stake in Intuitive Surgical in the first quarter valued at $30,000. Finally, LGT Financial Advisors LLC boosted its position in shares of Intuitive Surgical by 415.4% during the 2nd quarter. LGT Financial Advisors LLC now owns 67 shares of the medical equipment provider’s stock worth $30,000 after purchasing an additional 54 shares in the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Intuitive Surgical Stock Up 0.6 %

Intuitive Surgical stock opened at $541.82 on Thursday. The firm has a fifty day moving average of $502.44 and a 200-day moving average of $461.26. Intuitive Surgical, Inc. has a 52-week low of $304.50 and a 52-week high of $544.38. The firm has a market capitalization of $192.98 billion, a P/E ratio of 87.11, a PEG ratio of 5.19 and a beta of 1.39.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings results on Thursday, October 17th. The medical equipment provider reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.32. Intuitive Surgical had a return on equity of 13.41% and a net margin of 28.51%. The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.01 billion. On average, research analysts expect that Intuitive Surgical, Inc. will post 5.45 EPS for the current fiscal year.

Insider Transactions at Intuitive Surgical

In other news, CEO Gary S. Guthart sold 18,151 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $511.63, for a total transaction of $9,286,596.13. Following the completion of the sale, the chief executive officer now owns 24,219 shares of the company’s stock, valued at approximately $12,391,166.97. This trade represents a 42.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jamie Samath sold 269 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $539.89, for a total transaction of $145,230.41. Following the transaction, the insider now owns 8,757 shares in the company, valued at $4,727,816.73. This trade represents a 2.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 91,178 shares of company stock valued at $45,897,071. Corporate insiders own 0.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ISRG. Evercore ISI reiterated a “cautious” rating on shares of Intuitive Surgical in a report on Friday, October 18th. Raymond James upped their price target on Intuitive Surgical from $500.00 to $540.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Truist Financial boosted their target price on Intuitive Surgical from $520.00 to $570.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Royal Bank of Canada lifted their price target on Intuitive Surgical from $525.00 to $555.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Finally, Robert W. Baird lifted their target price on shares of Intuitive Surgical from $503.00 to $565.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $524.61.

Intuitive Surgical 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.