Eastern Bank Cuts Stock Holdings in Intuitive Surgical, Inc. $ISRG

Eastern Bank trimmed its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 2.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,475 shares of the medical equipment provider’s stock after selling 126 shares during the period. Eastern Bank’s holdings in Intuitive Surgical were worth $2,975,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ISRG. Brighton Jones LLC grew its stake in shares of Intuitive Surgical by 24.9% in the 4th quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider’s stock worth $1,916,000 after buying an additional 731 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Intuitive Surgical by 9.3% in the 1st quarter. GAMMA Investing LLC now owns 6,115 shares of the medical equipment provider’s stock worth $3,029,000 after buying an additional 518 shares in the last quarter. CX Institutional grew its stake in shares of Intuitive Surgical by 2.6% in the 1st quarter. CX Institutional now owns 1,873 shares of the medical equipment provider’s stock worth $928,000 after buying an additional 48 shares in the last quarter. Simon Quick Advisors LLC grew its stake in shares of Intuitive Surgical by 15.7% in the 1st quarter. Simon Quick Advisors LLC now owns 2,466 shares of the medical equipment provider’s stock worth $1,221,000 after buying an additional 334 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. grew its stake in shares of Intuitive Surgical by 20.7% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 1,043 shares of the medical equipment provider’s stock worth $517,000 after buying an additional 179 shares in the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Intuitive Surgical

In related news, Director Amy L. Ladd sold 335 shares of Intuitive Surgical stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $440.69, for a total transaction of $147,631.15. Following the completion of the sale, the director owned 739 shares in the company, valued at $325,669.91. This trade represents a 31.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Myriam Curet sold 4,500 shares of Intuitive Surgical stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $492.48, for a total transaction of $2,216,160.00. Following the sale, the executive vice president owned 353 shares of the company’s stock, valued at $173,845.44. The trade was a 92.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,224 shares of company stock worth $21,716,492 in the last 90 days. 0.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Zacks Research cut shares of Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 20th. Weiss Ratings reissued a “hold (c+)” rating on shares of Intuitive Surgical in a research note on Wednesday. The Goldman Sachs Group dropped their price objective on shares of Intuitive Surgical from $621.00 to $567.00 and set a “buy” rating for the company in a research note on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of Intuitive Surgical in a research note on Friday, August 22nd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $615.00 price target on shares of Intuitive Surgical in a research note on Tuesday, August 19th. Fourteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $589.43.

Intuitive Surgical Price Performance

Shares of ISRG opened at $429.59 on Friday. Intuitive Surgical, Inc. has a 1-year low of $425.00 and a 1-year high of $616.00. The company has a 50-day moving average of $458.68 and a 200 day moving average of $497.98. The firm has a market capitalization of $154.00 billion, a price-to-earnings ratio of 59.91, a PEG ratio of 4.66 and a beta of 1.61.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings data on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.26. Intuitive Surgical had a net margin of 28.51% and a return on equity of 14.56%. The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the business posted $1.78 EPS. The firm’s revenue for the quarter was up 21.4% on a year-over-year basis. On average, equities analysts anticipate that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

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.