PNC Financial Services Group Inc. Reduces Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

PNC Financial Services Group Inc. lowered its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 1.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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.

Other institutional investors and hedge funds have also made changes to their positions in the company. Creekmur Asset Management LLC boosted its holdings in Intuitive Surgical by 200.0% in the first quarter. Creekmur Asset Management LLC now owns 63 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 42 shares during the last quarter. Ridgewood Investments LLC acquired a new stake in Intuitive Surgical during the second quarter worth about $26,000. Godsey & Gibb Inc. raised its position in Intuitive Surgical by 140.0% during the third quarter. Godsey & Gibb Inc. now owns 60 shares of the medical equipment provider’s stock valued at $29,000 after acquiring an additional 35 shares in the last quarter. LRI Investments LLC acquired a new position in Intuitive Surgical in the first quarter valued at approximately $30,000. Finally, LGT Financial Advisors LLC boosted its position in Intuitive Surgical by 415.4% in 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.

Insider Activity at Intuitive Surgical

In related news, SVP Henry L. Charlton sold 40,243 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $486.84, for a total value of $19,591,902.12. Following the completion of the sale, the senior vice president now directly owns 3,001 shares of the company’s stock, valued at $1,461,006.84. The trade was a 93.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jamie Samath sold 269 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $539.89, for a total value of $145,230.41. Following the transaction, the insider now directly owns 8,757 shares in the company, valued at approximately $4,727,816.73. The trade was a 2.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 91,178 shares of company stock valued at $45,897,071 over the last three months. 0.80% of the stock is owned by corporate insiders.

Intuitive Surgical Trading Up 0.6 %

Shares of ISRG opened at $541.82 on Thursday. The firm’s fifty day simple moving average is $502.44 and its 200-day simple moving average is $461.26. The firm has a market capitalization of $192.98 billion, a price-to-earnings ratio of 87.11, a PEG ratio of 5.19 and a beta of 1.39. Intuitive Surgical, Inc. has a twelve month low of $304.50 and a twelve month high of $544.38.

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, topping analysts’ consensus estimates of $1.24 by $0.32. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.01 billion. Intuitive Surgical had a return on equity of 13.41% and a net margin of 28.51%. On average, analysts predict that Intuitive Surgical, Inc. will post 5.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ISRG has been the subject of several analyst reports. Truist Financial boosted their target price on shares of Intuitive Surgical from $520.00 to $570.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Leerink Partners increased their target price on shares of Intuitive Surgical from $489.00 to $502.00 in a research note on Thursday, October 17th. Piper Sandler restated an “overweight” rating and issued a $538.00 price target (up previously from $495.00) on shares of Intuitive Surgical in a research note on Friday, October 18th. Mizuho increased their price target on Intuitive Surgical from $440.00 to $500.00 in a research report on Thursday, October 17th. Finally, Royal Bank of Canada boosted their price objective on Intuitive Surgical from $525.00 to $555.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $524.61.

Intuitive Surgical Company 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.