Citizens Financial Group Inc. RI Boosts Stock Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Citizens Financial Group Inc. RI boosted its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 20.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,120 shares of the medical equipment provider’s stock after purchasing an additional 1,406 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Intuitive Surgical were worth $3,989,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ridgewood Investments LLC bought a new position in shares of Intuitive Surgical during the 2nd quarter valued at approximately $26,000. Godsey & Gibb Inc. lifted its stake in shares of Intuitive Surgical by 140.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 60 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 35 shares during the last quarter. Creekmur Asset Management LLC boosted its holdings in shares of Intuitive Surgical by 200.0% in the 1st quarter. Creekmur Asset Management LLC now owns 63 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 42 shares during the period. LGT Financial Advisors LLC raised its holdings in Intuitive Surgical by 415.4% during the 2nd quarter. LGT Financial Advisors LLC now owns 67 shares of the medical equipment provider’s stock valued at $30,000 after buying an additional 54 shares during the period. Finally, MidAtlantic Capital Management Inc. bought a new stake in Intuitive Surgical in the third quarter worth $33,000. Institutional investors own 83.64% of the company’s stock.

Insider Buying and Selling at Intuitive Surgical

In other news, CEO Gary S. Guthart sold 18,151 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $511.63, for a total transaction of $9,286,596.13. Following the transaction, the chief executive officer now owns 24,219 shares in the company, valued at $12,391,166.97. This represents a 42.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Robert Desantis sold 396 shares of Intuitive Surgical stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $486.88, for a total transaction of $192,804.48. Following the completion of the sale, the executive vice president now owns 5,506 shares of the company’s stock, valued at $2,680,761.28. This trade represents a 6.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,935 shares of company stock worth $26,305,169 over the last three months. Corporate insiders own 0.90% of the company’s stock.

Intuitive Surgical Price Performance

Shares of NASDAQ ISRG opened at $550.43 on Friday. Intuitive Surgical, Inc. has a 1-year low of $304.50 and a 1-year high of $551.78. The business has a fifty day moving average price of $503.57 and a 200 day moving average price of $461.88. The stock has a market capitalization of $196.05 billion, a P/E ratio of 88.49, a price-to-earnings-growth ratio of 5.30 and a beta of 1.39.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings results on Thursday, October 17th. The medical equipment provider reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.32. Intuitive Surgical had a net margin of 28.51% and a return on equity of 13.41%. The business had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.01 billion. As a group, equities research analysts anticipate that Intuitive Surgical, Inc. will post 5.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ISRG shares. Piper Sandler reissued an “overweight” rating and issued a $538.00 target price (up previously from $495.00) on shares of Intuitive Surgical in a research note on Friday, October 18th. BTIG Research set a $535.00 price objective on shares of Intuitive Surgical in a research note on Friday, October 18th. Citigroup upped their target price on Intuitive Surgical from $512.00 to $560.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Redburn Atlantic upgraded Intuitive Surgical from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $380.00 to $510.00 in a report on Friday, August 2nd. Finally, Erste Group Bank upgraded Intuitive Surgical from a “hold” rating to a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $524.61.

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.