Bank of New York Mellon Corp Lowers Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Bank of New York Mellon Corp trimmed its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 4.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,872,629 shares of the medical equipment provider's stock after selling 229,958 shares during the period. Bank of New York Mellon Corp owned 1.37% of Intuitive Surgical worth $2,413,267,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Atala Financial Inc purchased a new stake in Intuitive Surgical in the fourth quarter worth about $25,000. Hurley Capital LLC purchased a new stake in shares of Intuitive Surgical in the 4th quarter worth approximately $28,000. Parvin Asset Management LLC purchased a new stake in shares of Intuitive Surgical in the 4th quarter worth approximately $26,000. Global Financial Private Client LLC increased its position in Intuitive Surgical by 253.3% during the 1st quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider's stock valued at $26,000 after buying an additional 38 shares in the last quarter. Finally, Elite Financial Inc. purchased a new position in Intuitive Surgical during the first quarter valued at $26,000. Institutional investors own 83.64% of the company's stock.

Intuitive Surgical Price Performance

Shares of ISRG traded down $9.76 on Monday, reaching $534.71. The company's stock had a trading volume of 1,191,600 shares, compared to its average volume of 1,670,783. The stock's 50 day simple moving average is $537.53 and its two-hundred day simple moving average is $536.99. The stock has a market capitalization of $191.65 billion, a P/E ratio of 78.40, a PEG ratio of 5.78 and a beta of 1.64. Intuitive Surgical, Inc. has a 12-month low of $413.82 and a 12-month high of $616.00.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The medical equipment provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.10. Intuitive Surgical had a net margin of 28.41% and a return on equity of 14.43%. The business had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same period last year, the firm earned $1.50 earnings per share. Analysts expect that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ISRG shares. Citigroup restated a "buy" rating and set a $650.00 price target (up from $590.00) on shares of Intuitive Surgical in a report on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft lowered shares of Intuitive Surgical from a "hold" rating to a "sell" rating and reduced their price objective for the company from $515.00 to $440.00 in a research note on Monday, June 9th. Royal Bank Of Canada dropped their target price on shares of Intuitive Surgical from $630.00 to $605.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Truist Financial reduced their price target on shares of Intuitive Surgical from $605.00 to $590.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Finally, Piper Sandler lowered their price objective on Intuitive Surgical from $670.00 to $575.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $588.95.

Insider Buying and Selling

In related news, Director Jami K. Nachtsheim sold 2,400 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $520.00, for a total transaction of $1,248,000.00. Following the completion of the transaction, the director directly owned 6,371 shares in the company, valued at approximately $3,312,920. The trade was a 27.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Robert Desantis sold 188 shares of the stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $515.91, for a total transaction of $96,991.08. Following the completion of the sale, the executive vice president directly owned 5,224 shares of the company's stock, valued at $2,695,113.84. This represents a 3.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,998 shares of company stock valued at $2,611,577 in the last 90 days. 0.70% of the stock is owned by company insiders.

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.