Intuitive Surgical, Inc. $ISRG Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp trimmed its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 6.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 216,929 shares of the medical equipment provider’s stock after selling 15,604 shares during the period. Fifth Third Bancorp owned 0.06% of Intuitive Surgical worth $97,017,000 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. Norges Bank acquired a new stake in shares of Intuitive Surgical during the 2nd quarter valued at approximately $2,569,260,000. Rakuten Investment Management Inc. bought a new stake in Intuitive Surgical during the third quarter valued at $388,436,000. Vanguard Group Inc. increased its stake in Intuitive Surgical by 2.1% during the second quarter. Vanguard Group Inc. now owns 33,335,833 shares of the medical equipment provider’s stock valued at $18,115,025,000 after purchasing an additional 670,302 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Intuitive Surgical by 20.4% during the second quarter. Jennison Associates LLC now owns 3,122,390 shares of the medical equipment provider’s stock worth $1,696,738,000 after purchasing an additional 528,359 shares during the period. Finally, Bessemer Group Inc. lifted its position in shares of Intuitive Surgical by 89.3% in the 2nd quarter. Bessemer Group Inc. now owns 788,328 shares of the medical equipment provider’s stock worth $428,386,000 after buying an additional 371,806 shares during the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.

Intuitive Surgical Price Performance

ISRG opened at $485.84 on Monday. The stock’s 50 day moving average price is $541.62 and its 200 day moving average price is $510.40. The stock has a market cap of $172.54 billion, a P/E ratio of 61.58, a P/E/G ratio of 3.76 and a beta of 1.65. Intuitive Surgical, Inc. has a 12 month low of $425.00 and a 12 month high of $609.08.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings results on Thursday, January 22nd. The medical equipment provider reported $2.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.26. The company had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.72 billion. Intuitive Surgical had a return on equity of 15.06% and a net margin of 28.38%.The firm’s quarterly revenue was up 18.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.21 EPS. Equities analysts anticipate that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

Wall Street Analysts Forecast Growth

ISRG has been the subject of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Intuitive Surgical in a research report on Monday, December 29th. Rothschild & Co Redburn lifted their target price on Intuitive Surgical from $610.00 to $615.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. TD Cowen upgraded Intuitive Surgical to a “strong-buy” rating in a research report on Tuesday, January 27th. Wells Fargo & Company raised their price target on Intuitive Surgical from $600.00 to $654.00 and gave the stock an “overweight” rating in a report on Friday, December 12th. Finally, Leerink Partners upped their price objective on Intuitive Surgical from $593.00 to $600.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Intuitive Surgical currently has a consensus rating of “Moderate Buy” and an average price target of $617.23.

Insider Activity at Intuitive Surgical

In other news, EVP Myriam Curet sold 421 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $494.96, for a total value of $208,378.16. Following the completion of the sale, the executive vice president directly owned 409 shares of the company’s stock, valued at approximately $202,438.64. This represents a 50.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Mark Brosius sold 4,500 shares of the stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $547.36, for a total transaction of $2,463,120.00. Following the completion of the transaction, the senior vice president owned 907 shares of the company’s stock, valued at $496,455.52. This trade represents a 83.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 56,189 shares of company stock worth $30,785,441. 0.70% of the stock is currently owned by corporate insiders.

Intuitive Surgical Company Profile

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon’s hand movements into finer, scaled motions of small instruments inside the patient. Intuitive’s business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.