Pinnacle Financial Partners Inc Has $11.81 Million Stake in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Pinnacle Financial Partners Inc raised its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 2.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,846 shares of the medical equipment provider's stock after buying an additional 517 shares during the period. Pinnacle Financial Partners Inc's holdings in Intuitive Surgical were worth $11,810,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ISRG. Norges Bank acquired a new position in Intuitive Surgical during the 4th quarter worth $2,401,493,000. GAMMA Investing LLC increased its stake in shares of Intuitive Surgical by 54,010.7% in the first quarter. GAMMA Investing LLC now owns 3,028,576 shares of the medical equipment provider's stock worth $14,999,630,000 after purchasing an additional 3,022,979 shares during the period. Capital Research Global Investors increased its stake in shares of Intuitive Surgical by 25.5% in the fourth quarter. Capital Research Global Investors now owns 3,381,302 shares of the medical equipment provider's stock worth $1,764,904,000 after purchasing an additional 687,906 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Intuitive Surgical during the 4th quarter worth about $313,769,000. Finally, Northern Trust Corp boosted its stake in Intuitive Surgical by 15.8% during the 4th quarter. Northern Trust Corp now owns 3,619,293 shares of the medical equipment provider's stock valued at $1,889,126,000 after purchasing an additional 494,496 shares during the period. 83.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ISRG. Citigroup reaffirmed a "buy" rating and issued a $650.00 price target (up from $590.00) on shares of Intuitive Surgical in a research report on Thursday, May 22nd. Robert W. Baird cut their target price on shares of Intuitive Surgical from $600.00 to $575.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. BTIG Research set a $560.00 price target on shares of Intuitive Surgical and gave the company a "buy" rating in a report on Monday, April 14th. Barclays decreased their price target on shares of Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Intuitive Surgical from a "hold" rating to a "sell" rating and cut their price objective for the company from $515.00 to $440.00 in a research report on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $588.95.

Insiders Place Their Bets

In other news, EVP Robert Desantis sold 188 shares of the stock in a transaction 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 sale, the executive vice president owned 5,224 shares in the company, valued at approximately $2,695,113.84. This represents a 3.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mark Brosius sold 216 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $563.11, for a total transaction of $121,631.76. Following the sale, the senior vice president directly owned 907 shares in the company, valued at approximately $510,740.77. This represents a 19.23% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,998 shares of company stock valued at $2,611,577. Company insiders own 0.70% of the company's stock.

Intuitive Surgical Stock Performance

Shares of NASDAQ:ISRG traded up $2.61 on Wednesday, hitting $540.60. The stock had a trading volume of 1,487,420 shares, compared to its average volume of 1,668,652. The firm's 50 day moving average price is $534.76 and its 200-day moving average price is $536.73. Intuitive Surgical, Inc. has a twelve month low of $413.82 and a twelve month high of $616.00. The company has a market capitalization of $193.76 billion, a price-to-earnings ratio of 79.27, a price-to-earnings-growth ratio of 5.76 and a beta of 1.64.

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

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.