Bowen Hanes & Co. Inc. Sells 9,505 Shares of Intuitive Surgical, Inc. $ISRG

Bowen Hanes & Co. Inc. trimmed its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 5.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 174,510 shares of the medical equipment provider’s stock after selling 9,505 shares during the quarter. Intuitive Surgical accounts for about 2.0% of Bowen Hanes & Co. Inc.’s holdings, making the stock its 15th largest position. Bowen Hanes & Co. Inc.’s holdings in Intuitive Surgical were worth $78,046,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of ISRG. Tobam increased its position in shares of Intuitive Surgical by 666.7% during the 2nd quarter. Tobam now owns 46 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 40 shares during the last quarter. Kilter Group LLC purchased a new position in shares of Intuitive Surgical in the 2nd quarter worth about $27,000. Greykasell Wealth Strategies Inc. bought a new position in Intuitive Surgical during the third quarter valued at about $27,000. Guerra Advisors Inc bought a new position in Intuitive Surgical during the third quarter valued at about $37,000. Finally, Riggs Asset Managment Co. Inc. increased its holdings in Intuitive Surgical by 84.2% during the second quarter. Riggs Asset Managment Co. Inc. now owns 70 shares of the medical equipment provider’s stock worth $38,000 after buying an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Insiders Place Their Bets

In other Intuitive Surgical news, SVP Mark Brosius sold 4,500 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $547.36, for a total value of $2,463,120.00. Following the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Myriam Curet sold 421 shares of the business’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $494.96, for a total value of $208,378.16. Following the transaction, the executive vice president directly owned 409 shares of the company’s stock, valued at $202,438.64. The trade was a 50.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 56,189 shares of company stock valued at $30,785,441 over the last 90 days. 0.70% of the stock is owned by insiders.

Intuitive Surgical Price Performance

NASDAQ ISRG opened at $504.05 on Friday. The company’s 50 day simple moving average is $535.88 and its two-hundred day simple moving average is $510.74. Intuitive Surgical, Inc. has a 1 year low of $425.00 and a 1 year high of $607.35. The stock has a market capitalization of $179.00 billion, a PE ratio of 63.88, a P/E/G ratio of 3.90 and a beta of 1.65.

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

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. HSBC boosted their target price on shares of Intuitive Surgical from $644.00 to $653.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Barclays set a $712.00 price objective on Intuitive Surgical and gave the company an “overweight” rating in a research note on Monday, January 26th. Raymond James Financial boosted their target price on Intuitive Surgical from $603.00 to $615.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Royal Bank Of Canada upped their price target on Intuitive Surgical from $625.00 to $650.00 and gave the company an “outperform” rating in a research report on Wednesday, December 17th. Finally, Citigroup reiterated a “neutral” rating and set a $590.00 price target (down previously from $635.00) on shares of Intuitive Surgical in a research note on Friday, January 23rd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $617.23.

About Intuitive Surgical

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.