PNC Financial Services Group Inc. Has $66.20 Million Stock Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Key Points

• PNC Financial Services Group Inc. reduced its stake in Intuitive Surgical, Inc. by 2.2%, now holding 133,670 shares worth approximately $66.2 million.
• Analysts have given Intuitive Surgical a consensus rating of "Moderate Buy", with several upgrades to price targets, the highest being $650.00 from Citigroup.
• Intuitive Surgical reported earnings per share of $2.19 for the last quarter, exceeding expectations and demonstrating a 21.4% increase in revenue compared to the same quarter last year.

PNC Financial Services Group Inc. decreased its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 2.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 133,670 shares of the medical equipment provider's stock after selling 3,041 shares during the period. PNC Financial Services Group Inc.'s holdings in Intuitive Surgical were worth $66,203,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC raised its stake in Intuitive Surgical by 24.9% during the fourth quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider's stock valued at $1,916,000 after buying an additional 731 shares in the last quarter. Bank Pictet & Cie Europe AG raised its stake in Intuitive Surgical by 0.5% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 190,969 shares of the medical equipment provider's stock valued at $99,678,000 after buying an additional 883 shares in the last quarter. World Investment Advisors grew its holdings in shares of Intuitive Surgical by 97.4% during the fourth quarter. World Investment Advisors now owns 916 shares of the medical equipment provider's stock valued at $478,000 after purchasing an additional 452 shares during the last quarter. Arete Wealth Advisors LLC grew its holdings in shares of Intuitive Surgical by 78.3% during the fourth quarter. Arete Wealth Advisors LLC now owns 1,908 shares of the medical equipment provider's stock valued at $996,000 after purchasing an additional 838 shares during the last quarter. Finally, Prudential PLC grew its holdings in shares of Intuitive Surgical by 18.3% during the fourth quarter. Prudential PLC now owns 23,801 shares of the medical equipment provider's stock valued at $12,423,000 after purchasing an additional 3,679 shares during the last quarter. Institutional investors and hedge funds own 83.64% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Barclays lowered their target price on Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. UBS Group upped their target price on Intuitive Surgical from $547.00 to $585.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Erste Group Bank reaffirmed a "hold" rating on shares of Intuitive Surgical in a report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft lowered Intuitive Surgical from a "hold" rating to a "sell" rating and lowered their target price for the company from $515.00 to $440.00 in a report on Monday, June 9th. Finally, Royal Bank Of Canada increased their price objective on Intuitive Surgical from $605.00 to $615.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $595.95.

Intuitive Surgical Price Performance

Shares of NASDAQ:ISRG traded down $4.08 during trading on Thursday, reaching $469.98. The stock had a trading volume of 213,531 shares, compared to its average volume of 2,001,508. Intuitive Surgical, Inc. has a 52 week low of $425.00 and a 52 week high of $616.00. The business's 50-day moving average price is $519.86 and its 200 day moving average price is $531.12. The stock has a market capitalization of $168.48 billion, a PE ratio of 65.48, a P/E/G ratio of 5.00 and a beta of 1.59.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The medical equipment provider reported $2.19 EPS for the quarter, beating analysts' consensus estimates of $1.93 by $0.26. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.35 billion. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%. The business's quarterly revenue was up 21.4% compared to the same quarter last year. During the same period last year, the company earned $1.78 EPS. Analysts forecast that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

Insider Buying and Selling at Intuitive Surgical

In other news, insider Gary S. Guthart sold 2,800 shares of the business's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $495.24, for a total value of $1,386,672.00. Following the completion of the transaction, the insider owned 18,520 shares of the company's stock, valued at $9,171,844.80. The trade was a 13.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mark Brosius sold 216 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $563.11, for a total transaction of $121,631.76. Following the completion of the transaction, the senior vice president directly owned 907 shares of the company's stock, valued at approximately $510,740.77. The trade was a 19.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,903 shares of company stock worth $7,932,778. Insiders own 0.70% of the company's stock.

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.