Greenleaf Trust Sells 6,166 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Greenleaf Trust reduced its stake in Intuitive Surgical, Inc. by 23.3%, selling 6,166 shares and ending with 20,292 shares valued at approximately $11 million.
• Intuitive Surgical reported $2.19 EPS in its latest quarterly earnings, exceeding analysts' expectations of $1.93, and had a revenue of $2.44 billion.
• Insider transactions saw significant sales, with CEO Gary S. Guthart selling over 29,000 shares, indicating a 59.69% decrease in his position.

Greenleaf Trust lowered its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 23.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 20,292 shares of the medical equipment provider's stock after selling 6,166 shares during the quarter. Greenleaf Trust's holdings in Intuitive Surgical were worth $11,027,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Norway Savings Bank raised its holdings in Intuitive Surgical by 53.4% during the 2nd quarter. Norway Savings Bank now owns 2,613 shares of the medical equipment provider's stock valued at $1,420,000 after buying an additional 910 shares during the last quarter. IronOak Wealth LLC. purchased a new position in shares of Intuitive Surgical in the second quarter valued at about $1,099,000. Trust Co. of Oklahoma purchased a new stake in shares of Intuitive Surgical during the second quarter worth about $363,000. Neville Rodie & Shaw Inc. grew its stake in shares of Intuitive Surgical by 11.9% in the second quarter. Neville Rodie & Shaw Inc. now owns 10,427 shares of the medical equipment provider's stock worth $5,666,000 after purchasing an additional 1,110 shares during the last quarter. Finally, Compagnie Lombard Odier SCmA grew its stake in shares of Intuitive Surgical by 633.9% in the second quarter. Compagnie Lombard Odier SCmA now owns 33,311 shares of the medical equipment provider's stock worth $18,102,000 after purchasing an additional 28,772 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company's stock.

Intuitive Surgical Price Performance

NASDAQ:ISRG opened at $439.22 on Tuesday. The firm's 50-day moving average price is $467.89 and its 200-day moving average price is $501.35. The company has a market capitalization of $157.45 billion, a PE ratio of 61.26, a P/E/G ratio of 4.62 and a beta of 1.61. Intuitive Surgical, Inc. has a 1-year low of $425.00 and a 1-year high of $616.00.

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Intuitive Surgical in a report on Friday, August 22nd. Truist Financial raised their price target on Intuitive Surgical from $590.00 to $600.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. BTIG Research lifted their price target on shares of Intuitive Surgical from $566.00 to $571.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Wells Fargo & Company upped their price objective on shares of Intuitive Surgical from $559.00 to $599.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $595.00 target price (up previously from $575.00) on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. Thirteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $595.95.

Insider Transactions at Intuitive Surgical

In related news, insider Gary S. Guthart sold 29,360 shares of the company's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $472.49, for a total value of $13,872,306.40. Following the sale, the insider owned 19,827 shares in the company, valued at $9,368,059.23. This represents a 59.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Myriam Curet sold 4,500 shares of Intuitive Surgical stock in a transaction on Friday, July 25th. The shares were sold at an average price of $492.48, for a total value of $2,216,160.00. Following the transaction, 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 have sold a total of 45,224 shares of company stock valued at $21,716,492 in the last ninety days. 0.70% of the stock is currently owned by corporate 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.