Intuitive Surgical, Inc. $ISRG Shares Purchased by Glenview Trust Co

Key Points

• Glenview Trust Co. increased its Intuitive Surgical stake by 9.4% in the third quarter, bringing its holdings to 138,825 shares valued at approximately $56.45 million. Hedge funds and other institutions collectively own 83.64% of the company.
• Intuitive Surgical reported stronger-than-expected quarterly results, with EPS of $3.00 versus the $2.65 consensus and revenue of $3.05 billion, up 21.7% year over year.
• Analysts maintain a broadly positive outlook, with a consensus “Moderate Buy” rating and an average price target of $493.54, although some firms recently lowered their targets. Insiders sold approximately $16.8 million of stock over the past three months.

Glenview Trust Co raised its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 9.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,825 shares of the medical equipment provider's stock after buying an additional 11,896 shares during the quarter. Intuitive Surgical comprises approximately 0.8% of Glenview Trust Co's holdings, making the stock its 27th largest position. Glenview Trust Co's holdings in Intuitive Surgical were worth $56,450,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. North Point Portfolio Managers Corp OH purchased a new position in shares of Intuitive Surgical in the third quarter valued at $27,000. John Boyer Inc. bought a new position in Intuitive Surgical in the 3rd quarter worth about $27,000. Compass Wealth Management LLC purchased a new position in shares of Intuitive Surgical during the third quarter valued at $29,000. Main Street Group LTD bought a new position in Intuitive Surgical in the first quarter worth approximately $30,000. Finally, Compass Financial Management LLC purchased a new stake in shares of Intuitive Surgical during the second quarter valued at about $30,000. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Intuitive Surgical Stock Performance

Intuitive Surgical stock opened at $432.01 on Friday. The stock has a market capitalization of $149.75 billion, a P/E ratio of 52.24, a P/E/G ratio of 3.09 and a beta of 1.46. The company's fifty day moving average price is $401.54 and its 200 day moving average price is $434.05. Intuitive Surgical, Inc. has a 1 year low of $328.57 and a 1 year high of $603.88.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its quarterly earnings results on Tuesday, October 20th. The medical equipment provider reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.65 by $0.35. Intuitive Surgical had a net margin of 25.54% and a return on equity of 18.17%. The firm had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $2.91 billion. During the same quarter in the prior year, the firm earned $2.40 EPS. The company's revenue for the quarter was up 21.7% on a year-over-year basis. Sell-side analysts predict that Intuitive Surgical, Inc. will post 9.37 EPS for the current year.

Analysts Set New Price Targets

ISRG has been the subject of a number of research analyst reports. Mizuho decreased their price target on Intuitive Surgical from $415.00 to $400.00 and set a "neutral" rating for the company in a research note on Wednesday, October 21st. BTIG Research restated a "buy" rating and set a $454.00 price target on shares of Intuitive Surgical in a research note on Wednesday, October 21st. BNP Paribas Exane upgraded Intuitive Surgical to an "outperform" rating in a research note on Tuesday, July 28th. Barclays restated an "overweight" rating and set a $500.00 price objective (up from $485.00) on shares of Intuitive Surgical in a report on Wednesday, October 21st. Finally, Citigroup decreased their price objective on shares of Intuitive Surgical from $590.00 to $500.00 and set a "buy" rating for the company in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Intuitive Surgical presently has an average rating of "Moderate Buy" and a consensus target price of $493.54.

Insiders Place Their Bets

In other news, Director Amy Ladd sold 400 shares of the business's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $379.00, for a total transaction of $151,600.00. Following the transaction, the director directly owned 251 shares in the company, valued at $95,129. The trade was a 61.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Fredrik Widman sold 4,047 shares of the company's stock in a transaction that occurred on Friday, October 23rd. The shares were sold at an average price of $453.21, for a total value of $1,834,140.87. Following the completion of the sale, the vice president owned 1,026 shares of the company's stock, valued at $464,993.46. This trade represents a 79.78% 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. Over the last three months, insiders sold 38,778 shares of company stock worth $16,814,967. 0.60% of the stock is currently owned by insiders.

Intuitive Surgical Profile

Intuitive Surgical, Inc develops and manufactures robotic-assisted systems and related technologies for minimally invasive surgery. Its products are designed to help surgeons perform procedures through small incisions while providing enhanced visualization, precision and control. The company's primary platform is the da Vinci Surgical System, which is used across a range of specialties, including urology, gynecology, general surgery, cardiothoracic surgery and other procedures.

The company also offers the Ion endoluminal system, which is designed to support minimally invasive lung biopsy procedures.

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