CNB Bank Has $1.98 Million Stock Holdings in Intuitive Surgical, Inc. $ISRG

CNB Bank cut its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 8.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 3,641 shares of the medical equipment provider’s stock after selling 328 shares during the quarter. Intuitive Surgical comprises about 0.9% of CNB Bank’s portfolio, making the stock its 23rd largest holding. CNB Bank’s holdings in Intuitive Surgical were worth $1,979,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Intuitive Surgical by 1.4% during the first quarter. Vanguard Group Inc. now owns 32,665,531 shares of the medical equipment provider’s stock worth $16,178,258,000 after acquiring an additional 453,335 shares during the period. Invesco Ltd. increased its stake in Intuitive Surgical by 1.7% in the 1st quarter. Invesco Ltd. now owns 4,219,974 shares of the medical equipment provider’s stock valued at $2,090,027,000 after buying an additional 71,794 shares during the last quarter. Northern Trust Corp increased its stake in Intuitive Surgical by 0.3% in the 1st quarter. Northern Trust Corp now owns 3,631,281 shares of the medical equipment provider’s stock valued at $1,798,465,000 after buying an additional 11,988 shares during the last quarter. Wellington Management Group LLP increased its stake in Intuitive Surgical by 15.0% in the 1st quarter. Wellington Management Group LLP now owns 3,499,052 shares of the medical equipment provider’s stock valued at $1,732,975,000 after buying an additional 457,080 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in Intuitive Surgical in the 1st quarter valued at $1,715,899,000. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on ISRG. Robert W. Baird set a $655.00 price target on shares of Intuitive Surgical in a research note on Wednesday. Mizuho set a $575.00 price objective on shares of Intuitive Surgical in a research report on Wednesday. Raymond James Financial set a $603.00 price objective on shares of Intuitive Surgical and gave the company an “outperform” rating in a research report on Wednesday. HSBC lifted their price objective on shares of Intuitive Surgical from $595.00 to $644.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Daiwa Capital Markets lifted their price objective on shares of Intuitive Surgical from $510.00 to $550.00 and gave the company an “outperform” rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $602.32.

Insider Activity at Intuitive Surgical

In other news, Director Amy L. Ladd sold 336 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $470.11, for a total value of $157,956.96. Following the completion of the transaction, the director directly owned 1,074 shares in the company, valued at approximately $504,898.14. The trade was a 23.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gary S. Guthart sold 29,360 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $472.49, for a total transaction of $13,872,306.40. Following the completion of the transaction, the insider owned 19,827 shares of the company’s stock, valued at $9,368,059.23. The trade was a 59.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,724 shares of company stock valued at $19,500,332 over the last 90 days. Corporate insiders own 0.70% of the company’s stock.

Intuitive Surgical Trading Down 0.9%

Intuitive Surgical stock opened at $546.51 on Friday. Intuitive Surgical, Inc. has a 12 month low of $425.00 and a 12 month high of $616.00. The stock’s 50 day moving average is $458.09 and its 200-day moving average is $497.02. The company has a market capitalization of $195.91 billion, a price-to-earnings ratio of 72.29, a PEG ratio of 5.50 and a beta of 1.61.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings data on Tuesday, October 21st. The medical equipment provider reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.41. The firm had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.41 billion. Intuitive Surgical had a net margin of 28.58% and a return on equity of 15.08%. The business’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.84 EPS. As a group, equities research analysts predict that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

Intuitive Surgical 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.