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

PNC Financial Services Group Inc. reduced its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 1.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 133,147 shares of the medical equipment provider's stock after selling 1,417 shares during the quarter. 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 also recently made changes to their positions in ISRG. Parnassus Investments LLC lifted its position in Intuitive Surgical by 36.8% in the 3rd quarter. Parnassus Investments LLC now owns 2,133 shares of the medical equipment provider's stock worth $1,048,000 after buying an additional 574 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Intuitive Surgical in the third quarter valued at about $9,977,000. Banque Cantonale Vaudoise boosted its holdings in Intuitive Surgical by 6.1% in the 3rd quarter. Banque Cantonale Vaudoise now owns 8,332 shares of the medical equipment provider's stock valued at $4,094,000 after purchasing an additional 480 shares during the period. SouthState Corp lifted its stake in shares of Intuitive Surgical by 1.3% in the third quarter. SouthState Corp now owns 37,280 shares of the medical equipment provider's stock valued at $18,315,000 after buying an additional 488 shares during the period. Finally, Fifth Third Wealth Advisors LLC boosted its stake in Intuitive Surgical by 94.4% during the third quarter. Fifth Third Wealth Advisors LLC now owns 8,338 shares of the medical equipment provider's stock worth $4,096,000 after buying an additional 4,050 shares in the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Intuitive Surgical

In other news, insider Jamie Samath sold 22,903 shares of the company's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $525.00, for a total transaction of $12,024,075.00. Following the completion of the transaction, the insider now directly owns 8,757 shares in the company, valued at approximately $4,597,425. This represents a 72.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Amy L. Ladd sold 450 shares of the business's stock in a transaction on Friday, September 13th. The stock was sold at an average price of $490.28, for a total transaction of $220,626.00. Following the completion of the sale, the director now directly owns 821 shares in the company, valued at approximately $402,519.88. This represents a 35.41 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 91,178 shares of company stock valued at $45,897,071. 0.90% of the stock is owned by corporate insiders.

Intuitive Surgical Price Performance

Shares of ISRG stock opened at $541.82 on Thursday. The company has a fifty day moving average price of $502.44 and a two-hundred day moving average price of $461.26. The stock has a market cap of $192.99 billion, a P/E ratio of 87.11, a P/E/G ratio of 5.30 and a beta of 1.39. Intuitive Surgical, Inc. has a one year low of $304.50 and a one year high of $544.38.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its earnings results on Thursday, October 17th. The medical equipment provider reported $1.56 earnings per share for the quarter, topping analysts' consensus estimates 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 return on equity of 13.41% and a net margin of 28.51%. As a group, equities research analysts anticipate that Intuitive Surgical, Inc. will post 5.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ISRG. The Goldman Sachs Group set a $604.00 price target on Intuitive Surgical in a research report on Friday, October 18th. Wells Fargo & Company upped their price target on Intuitive Surgical from $466.00 to $549.00 and gave the company an "overweight" rating in a research note on Friday, October 18th. Piper Sandler reaffirmed an "overweight" rating and issued a $538.00 price objective (up from $495.00) on shares of Intuitive Surgical in a research note on Friday, October 18th. 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. Finally, Oppenheimer reiterated a "market perform" rating on shares of Intuitive Surgical in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, 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.