Intuitive Surgical, Inc. $ISRG Shares Acquired by PNC Financial Services Group Inc.

Key Points

• PNC Financial Services increased its stake in Intuitive Surgical by 22% in the fourth quarter, adding 29,023 shares and bringing its total holding to 160,677 shares valued at about $91 million.
• Intuitive Surgical reported strong quarterly results, with EPS of $2.50 and revenue of $2.77 billion, both ahead of analyst estimates; revenue rose 23% year over year.
• Despite the solid results, insider selling continued, including transactions by Director Amy L. Ladd and EVP Gary Loeb, while analysts currently rate the stock a consensus Moderate Buy with a target price of $579.33.

PNC Financial Services Group Inc. lifted its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 22.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 160,677 shares of the medical equipment provider's stock after buying 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 filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of ISRG. Brighton Jones LLC increased its holdings in shares of Intuitive Surgical by 24.9% in the fourth quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider's stock valued at $1,916,000 after purchasing an additional 731 shares during the last quarter. Sivia Capital Partners LLC boosted its stake in Intuitive Surgical by 3.8% during the second quarter. Sivia Capital Partners LLC now owns 928 shares of the medical equipment provider's stock worth $504,000 after buying an additional 34 shares during the last quarter. Schnieders Capital Management LLC. boosted its stake in Intuitive Surgical by 38.0% during the second quarter. Schnieders Capital Management LLC. now owns 973 shares of the medical equipment provider's stock worth $529,000 after buying an additional 268 shares during the last quarter. Osterweis Capital Management Inc. purchased a new stake in Intuitive Surgical in the 2nd quarter valued at $200,000. Finally, Main Street Financial Solutions LLC increased its stake in shares of Intuitive Surgical by 92.4% in the 2nd quarter. Main Street Financial Solutions LLC now owns 2,929 shares of the medical equipment provider's stock worth $1,592,000 after acquiring an additional 1,407 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company's stock.

Insider Transactions at Intuitive Surgical

In other Intuitive Surgical news, Director Amy L. Ladd sold 500 shares of the company's stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $473.46, for a total transaction of $236,730.00. Following the transaction, the director directly owned 239 shares in the company, valued at $113,156.94. This represents a 67.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of the firm's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $446.95, for a total value of $178,780.00. Following the transaction, the executive vice president owned 6,120 shares of the company's stock, valued at approximately $2,735,334. This represents a 6.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 5,683 shares of company stock worth $2,775,891. 0.60% of the stock is owned by company insiders.

Intuitive Surgical Trading Up 1.7%

Shares of NASDAQ:ISRG opened at $449.03 on Thursday. The company has a market capitalization of $159.03 billion, a price-to-earnings ratio of 54.43, a PEG ratio of 3.53 and a beta of 1.51. Intuitive Surgical, Inc. has a 12-month low of $417.74 and a 12-month high of $603.88. The business has a 50-day moving average price of $460.63 and a 200 day moving average price of $511.79.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 EPS for the quarter, beating analysts' consensus estimates of $2.08 by $0.42. The company had revenue of $2.77 billion for the quarter, compared to analysts' expectations of $2.62 billion. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. Intuitive Surgical's revenue for the quarter was up 23.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.81 earnings per share. As a group, equities research analysts predict that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ISRG has been the topic of several analyst reports. Zacks Research lowered Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a report on Monday, March 30th. Raymond James Financial cut their price objective on shares of Intuitive Surgical from $615.00 to $577.00 and set an "outperform" rating for the company in a research report on Wednesday, April 22nd. Piper Sandler reduced their target price on shares of Intuitive Surgical from $620.00 to $580.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 22nd. Sanford C. Bernstein boosted their target price on shares of Intuitive Surgical from $740.00 to $750.00 and gave the company an "outperform" rating in a report on Friday, January 23rd. Finally, The Goldman Sachs Group increased their price target on shares of Intuitive Surgical from $609.00 to $621.00 and gave the company a "buy" rating in a research note on Wednesday, April 22nd. Nineteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $579.33.

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.

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