Central Pacific Bank Trust Division Sells 2,309 Shares of Intuitive Surgical, Inc. $ISRG

Central Pacific Bank Trust Division reduced its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 34.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,365 shares of the medical equipment provider’s stock after selling 2,309 shares during the period. Central Pacific Bank Trust Division’s holdings in Intuitive Surgical were worth $1,952,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Tobam raised its holdings in Intuitive Surgical by 666.7% during the second quarter. Tobam now owns 46 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 40 shares in the last quarter. Kilter Group LLC bought a new position in Intuitive Surgical in the second quarter valued at approximately $27,000. TD Capital Management LLC grew its stake in Intuitive Surgical by 300.0% in the first quarter. TD Capital Management LLC now owns 60 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 45 shares in the last quarter. 1248 Management LLC acquired a new position in shares of Intuitive Surgical during the 1st quarter worth approximately $30,000. Finally, Princeton Global Asset Management LLC bought a new stake in shares of Intuitive Surgical during the 2nd quarter worth approximately $30,000. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Intuitive Surgical

In related news, CEO David J. Rosa sold 24,500 shares of Intuitive Surgical stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $547.55, for a total transaction of $13,414,975.00. Following the completion of the sale, the chief executive officer directly owned 234,256 shares of the company’s stock, valued at approximately $128,266,872.80. This trade represents a 9.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gary S. Guthart sold 28,800 shares of the company’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $547.56, for a total value of $15,769,728.00. Following the completion of the transaction, the insider directly owned 27,027 shares in the company, valued at approximately $14,798,904.12. This represents a 51.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 114,007 shares of company stock valued at $63,533,844 in the last 90 days. Corporate insiders own 0.70% of the company’s stock.

Intuitive Surgical Price Performance

Shares of ISRG opened at $559.52 on Tuesday. The company’s 50-day moving average is $531.81 and its 200-day moving average is $505.39. The firm has a market capitalization of $200.58 billion, a PE ratio of 74.01, a PEG ratio of 4.98 and a beta of 1.68. Intuitive Surgical, Inc. has a fifty-two week low of $425.00 and a fifty-two week high of $616.00.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings results on Tuesday, October 21st. The medical equipment provider reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.41. The business had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.41 billion. Intuitive Surgical had a net margin of 28.58% and a return on equity of 15.08%. Intuitive Surgical’s quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.84 EPS. Analysts predict that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Intuitive Surgical in a research note on Friday, October 31st. Raymond James Financial set a $603.00 price target on shares of Intuitive Surgical and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Leerink Partners boosted their price objective on shares of Intuitive Surgical from $593.00 to $600.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Daiwa Capital Markets upped their target price on shares of Intuitive Surgical from $510.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, October 24th. Finally, Rothschild & Co Redburn raised their target price on shares of Intuitive Surgical from $610.00 to $615.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $608.79.

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.