Renaissance Investment Group LLC Sells 352 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Renaissance Investment Group LLC trimmed its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 1.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 30,151 shares of the medical equipment provider’s stock after selling 352 shares during the period. Intuitive Surgical comprises 3.3% of Renaissance Investment Group LLC’s holdings, making the stock its 7th biggest position. Renaissance Investment Group LLC’s holdings in Intuitive Surgical were worth $15,738,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA acquired a new position in Intuitive Surgical in the 3rd quarter valued at about $558,807,000. International Assets Investment Management LLC boosted its holdings in shares of Intuitive Surgical by 49,383.6% during the third quarter. International Assets Investment Management LLC now owns 1,090,619 shares of the medical equipment provider’s stock worth $535,788,000 after acquiring an additional 1,088,415 shares during the period. FMR LLC grew its position in shares of Intuitive Surgical by 8.3% in the third quarter. FMR LLC now owns 10,971,085 shares of the medical equipment provider’s stock valued at $5,389,765,000 after purchasing an additional 838,793 shares during the last quarter. Wilmington Savings Fund Society FSB increased its stake in shares of Intuitive Surgical by 15,322.2% during the third quarter. Wilmington Savings Fund Society FSB now owns 555,661 shares of the medical equipment provider’s stock worth $272,980,000 after purchasing an additional 552,058 shares during the period. Finally, State Street Corp lifted its holdings in Intuitive Surgical by 1.4% during the 3rd quarter. State Street Corp now owns 15,050,121 shares of the medical equipment provider’s stock worth $7,393,673,000 after purchasing an additional 210,363 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ISRG has been the topic of several recent research reports. BTIG Research increased their price objective on Intuitive Surgical from $535.00 to $561.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Morgan Stanley upgraded shares of Intuitive Surgical from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $522.00 to $650.00 in a research note on Monday, December 2nd. Wells Fargo & Company raised their target price on shares of Intuitive Surgical from $549.00 to $630.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Piper Sandler reiterated an “overweight” rating and issued a $538.00 price target (up from $495.00) on shares of Intuitive Surgical in a research note on Friday, October 18th. Finally, Oppenheimer reissued a “market perform” rating on shares of Intuitive Surgical in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $554.17.

Intuitive Surgical Stock Up 1.5 %

Intuitive Surgical stock opened at $592.64 on Friday. The stock has a market cap of $211.09 billion, a PE ratio of 95.28, a P/E/G ratio of 4.66 and a beta of 1.39. Intuitive Surgical, Inc. has a 12-month low of $362.14 and a 12-month high of $597.68. The business’s 50-day moving average price is $540.66 and its two-hundred day moving average price is $498.77.

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. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.01 billion. Intuitive Surgical had a net margin of 28.51% and a return on equity of 13.41%. As a group, analysts expect that Intuitive Surgical, Inc. will post 5.45 earnings per share for the current year.

Insider Buying and Selling at Intuitive Surgical

In other news, EVP Brian Edward Miller sold 2,553 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $515.00, for a total transaction of $1,314,795.00. Following the sale, the executive vice president now directly owns 7,066 shares in the company, valued at approximately $3,638,990. The trade was a 26.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Mark Brosius sold 2,128 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $515.00, for a total transaction of $1,095,920.00. Following the completion of the transaction, the senior vice president now owns 273 shares of the company’s stock, valued at approximately $140,595. This trade represents a 88.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,190 shares of company stock worth $25,012,927 over the last quarter. Corporate insiders own 0.80% of the company’s stock.

About Intuitive Surgical

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.