PNC Financial Services Group Inc. Boosts Holdings in Intuitive Surgical, Inc. $ISRG

PNC Financial Services Group Inc. increased its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 22.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 160,677 shares of the medical equipment provider’s stock after purchasing an additional 29,023 shares during the period. PNC Financial Services Group Inc.’s holdings in Intuitive Surgical were worth $91,001,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ISRG. Newbridge Financial Services Group Inc. increased its position in shares of Intuitive Surgical by 300.0% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 33 shares during the period. Holos Integrated Wealth LLC acquired a new position in Intuitive Surgical during the 4th quarter worth $25,000. Olistico Wealth LLC acquired a new position in Intuitive Surgical during the 4th quarter worth $28,000. Laurel Wealth Advisors LLC purchased a new stake in Intuitive Surgical during the 4th quarter worth about $31,000. Finally, Turning Point Benefit Group Inc. raised its position in Intuitive Surgical by 833.3% in the 4th quarter. Turning Point Benefit Group Inc. now owns 56 shares of the medical equipment provider’s stock valued at $32,000 after purchasing an additional 50 shares in the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Intuitive Surgical Stock Performance

Shares of NASDAQ ISRG opened at $449.03 on Thursday. Intuitive Surgical, Inc. has a fifty-two week low of $417.74 and a fifty-two week high of $603.88. The firm has a market capitalization of $159.03 billion, a PE ratio of 54.43, a price-to-earnings-growth ratio of 3.53 and a beta of 1.51. The stock’s 50-day simple moving average is $460.63 and its 200-day simple moving average is $511.79.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.42. The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.62 billion. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The firm’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.81 earnings per share. On average, sell-side analysts forecast that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Intuitive Surgical

In other news, SVP Mark Brosius sold 645 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $485.01, for a total value of $312,831.45. Following the completion of the transaction, the senior vice president owned 1,613 shares in the company, valued at approximately $782,321.13. This represents a 28.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Patricia L. Wadors sold 220 shares of the stock in a transaction on Friday, February 27th. The shares were sold at an average price of $499.71, for a total transaction of $109,936.20. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 5,683 shares of company stock worth $2,775,891. 0.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ISRG shares. UBS Group decreased their price objective on Intuitive Surgical from $570.00 to $550.00 and set a “neutral” rating for the company in a research note on Tuesday, March 17th. Barclays set a $651.00 target price on shares of Intuitive Surgical and gave the company an “overweight” rating in a report on Thursday, April 23rd. Bank of America decreased their price target on shares of Intuitive Surgical from $650.00 to $520.00 and set a “buy” rating for the company in a research note on Monday. Wall Street Zen upgraded shares of Intuitive Surgical from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Finally, TD Cowen dropped their price objective on shares of Intuitive Surgical from $660.00 to $585.00 and set a “buy” rating on the stock in a research report on Wednesday, April 22nd. Nineteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $579.33.

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.