TIAA Trust National Association Cuts Stock Position in Intuitive Surgical, Inc. $ISRG

TIAA Trust National Association trimmed its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 10.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,850 shares of the medical equipment provider’s stock after selling 3,079 shares during the period. TIAA Trust National Association’s holdings in Intuitive Surgical were worth $11,561,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ISRG. Tobam grew its stake in 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 acquired a new stake in shares of Intuitive Surgical during the second quarter worth about $27,000. Greykasell Wealth Strategies Inc. purchased a new stake in Intuitive Surgical in the third quarter valued at approximately $27,000. Guerra Advisors Inc acquired a new position in Intuitive Surgical in the 3rd quarter worth approximately $37,000. Finally, Riggs Asset Managment Co. Inc. increased its holdings in Intuitive Surgical by 84.2% in the 2nd 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 period. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intuitive Surgical

In related news, SVP Patricia L. Wadors sold 220 shares of the company’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $499.71, for a total transaction of $109,936.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gary S. Guthart sold 2,800 shares of the stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $531.52, for a total transaction of $1,488,256.00. Following the completion of the sale, the director owned 15,720 shares of the company’s stock, valued at approximately $8,355,494.40. The trade was a 15.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 56,409 shares of company stock valued at $30,895,377. 0.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ISRG. Argus dropped their price objective on shares of Intuitive Surgical from $630.00 to $560.00 and set a “buy” rating on the stock in a report on Wednesday, February 4th. Sanford C. Bernstein increased their price target on Intuitive Surgical from $740.00 to $750.00 and gave the stock an “outperform” rating in a research report on Friday, January 23rd. Citigroup reissued a “neutral” rating and issued a $590.00 price objective (down from $635.00) on shares of Intuitive Surgical in a report on Friday, January 23rd. Zacks Research raised Intuitive Surgical from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 19th. Finally, Wells Fargo & Company lifted their price target on Intuitive Surgical from $600.00 to $654.00 and gave the company an “overweight” rating in a research report on Friday, December 12th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $615.86.

Intuitive Surgical Stock Down 0.7%

ISRG stock opened at $503.51 on Friday. The stock has a market capitalization of $178.81 billion, a P/E ratio of 63.82, a P/E/G ratio of 3.91 and a beta of 1.65. Intuitive Surgical, Inc. has a 52 week low of $425.00 and a 52 week high of $603.88. The firm has a 50-day simple moving average of $529.83 and a 200-day simple moving average of $511.48.

Intuitive Surgical (NASDAQ:ISRG) last released its earnings results on Thursday, January 22nd. The medical equipment provider reported $2.53 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.26. Intuitive Surgical had a return on equity of 15.06% and a net margin of 28.38%.The business had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.72 billion. During the same quarter last year, the business posted $2.21 earnings per share. The business’s quarterly revenue was up 18.8% compared to the same quarter last year. On average, analysts expect that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Intuitive Surgical 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.