Intuitive Surgical, Inc. $ISRG Shares Sold by CNB Bank

CNB Bank cut its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 8.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,641 shares of the medical equipment provider’s stock after selling 328 shares during the quarter. Intuitive Surgical accounts for 0.9% of CNB Bank’s holdings, making the stock its 23rd largest holding. CNB Bank’s holdings in Intuitive Surgical were worth $1,979,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norway Savings Bank lifted its holdings in Intuitive Surgical by 53.4% during the 2nd quarter. Norway Savings Bank now owns 2,613 shares of the medical equipment provider’s stock worth $1,420,000 after buying an additional 910 shares during the last quarter. IronOak Wealth LLC. purchased a new stake in Intuitive Surgical during the 2nd quarter worth about $1,099,000. Trust Co. of Oklahoma purchased a new stake in Intuitive Surgical during the 2nd quarter worth about $363,000. Neville Rodie & Shaw Inc. lifted its holdings in Intuitive Surgical by 11.9% during the 2nd quarter. Neville Rodie & Shaw Inc. now owns 10,427 shares of the medical equipment provider’s stock worth $5,666,000 after buying an additional 1,110 shares during the last quarter. Finally, Sax Wealth Advisors LLC lifted its holdings in Intuitive Surgical by 218.1% during the 2nd quarter. Sax Wealth Advisors LLC now owns 2,456 shares of the medical equipment provider’s stock worth $1,334,000 after buying an additional 1,684 shares during the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Intuitive Surgical

In other news, Director Amy L. Ladd sold 335 shares of the firm’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $440.69, for a total transaction of $147,631.15. Following the completion of the sale, the director owned 739 shares of the company’s stock, valued at approximately $325,669.91. This trade represents a 31.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Gary S. Guthart sold 29,360 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $472.49, for a total transaction of $13,872,306.40. Following the sale, the insider directly owned 19,827 shares of the company’s stock, valued at approximately $9,368,059.23. The trade was a 59.69% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,724 shares of company stock valued at $19,500,332. Company insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Intuitive Surgical in a report on Wednesday, October 8th. The Goldman Sachs Group reduced their target price on Intuitive Surgical from $621.00 to $567.00 and set a “buy” rating for the company in a report on Wednesday, October 1st. Wall Street Zen downgraded Intuitive Surgical from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of Intuitive Surgical in a report on Friday, August 22nd. Finally, Royal Bank Of Canada set a $625.00 price objective on Intuitive Surgical and gave the company an “outperform” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Intuitive Surgical presently has a consensus rating of “Moderate Buy” and a consensus target price of $602.32.

Intuitive Surgical Stock Performance

Shares of ISRG opened at $546.51 on Friday. Intuitive Surgical, Inc. has a 52 week low of $425.00 and a 52 week high of $616.00. The firm has a market capitalization of $195.91 billion, a P/E ratio of 72.29, a P/E/G ratio of 5.50 and a beta of 1.61. The company has a 50-day simple moving average of $458.09 and a 200-day simple moving average of $497.02.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings results on Tuesday, October 21st. The medical equipment provider reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.41. Intuitive Surgical had a net margin of 28.58% and a return on equity of 15.08%. The firm had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the prior year, the business posted $1.84 earnings per share. The company’s quarterly revenue was up 22.9% compared to the same quarter last year. As a group, equities analysts forecast that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

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.