Renaissance Investment Group LLC Sells 2,352 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Key Points

• Renaissance Investment Group LLC reduced its stake in Intuitive Surgical by 7.8%, now holding 27,799 shares worth approximately $13.77 million, making up 3.3% of its portfolio.
• Multiple institutional investors have adjusted their positions, with Castleark Management LLC increasing its stake by 3.4%, now owning 90,469 shares valued at around $47.22 million.
• Intuitive Surgical recently reported earnings of $2.19 EPS, surpassing expectations, and their revenue grew by 21.4% year-over-year to $2.44 billion.

Renaissance Investment Group LLC trimmed its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 7.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,799 shares of the medical equipment provider's stock after selling 2,352 shares during the period. Intuitive Surgical accounts for approximately 3.3% of Renaissance Investment Group LLC's investment portfolio, making the stock its 8th biggest position. Renaissance Investment Group LLC's holdings in Intuitive Surgical were worth $13,768,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ISRG. AlphaCore Capital LLC increased its holdings in shares of Intuitive Surgical by 4.2% during the fourth quarter. AlphaCore Capital LLC now owns 451 shares of the medical equipment provider's stock valued at $235,000 after acquiring an additional 18 shares in the last quarter. Accredited Investors Inc. increased its holdings in shares of Intuitive Surgical by 1.9% during the fourth quarter. Accredited Investors Inc. now owns 1,040 shares of the medical equipment provider's stock valued at $543,000 after acquiring an additional 19 shares in the last quarter. Second Line Capital LLC increased its holdings in shares of Intuitive Surgical by 3.4% during the fourth quarter. Second Line Capital LLC now owns 578 shares of the medical equipment provider's stock valued at $302,000 after acquiring an additional 19 shares in the last quarter. Colonial Trust Co SC increased its holdings in shares of Intuitive Surgical by 8.8% during the fourth quarter. Colonial Trust Co SC now owns 246 shares of the medical equipment provider's stock valued at $128,000 after acquiring an additional 20 shares in the last quarter. Finally, Crown Wealth Group LLC increased its holdings in shares of Intuitive Surgical by 4.8% during the first quarter. Crown Wealth Group LLC now owns 440 shares of the medical equipment provider's stock valued at $218,000 after acquiring an additional 20 shares in the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, 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 value of $121,631.76. Following the transaction, the senior vice president owned 907 shares of the company's stock, valued at $510,740.77. This represents a 19.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Myriam Curet sold 4,500 shares of the company's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $492.48, for a total value of $2,216,160.00. Following the completion of the sale, the executive vice president owned 353 shares of the company's stock, valued at $173,845.44. This represents a 92.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,903 shares of company stock valued at $7,932,778 in the last quarter. 0.70% of the stock is owned by insiders.

Analysts Set New Price Targets

ISRG has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft downgraded Intuitive Surgical from a "hold" rating to a "sell" rating and reduced their price target for the company from $515.00 to $440.00 in a report on Monday, June 9th. Robert W. Baird reduced their price objective on Intuitive Surgical from $600.00 to $575.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Truist Financial lifted their price objective on Intuitive Surgical from $590.00 to $600.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Citigroup reissued a "buy" rating and issued a $650.00 target price (up from $590.00) on shares of Intuitive Surgical in a research report on Thursday, May 22nd. Finally, BTIG Research raised their target price on Intuitive Surgical from $566.00 to $571.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Intuitive Surgical currently has a consensus rating of "Moderate Buy" and a consensus target price of $592.05.

Intuitive Surgical Trading Down 0.0%

Shares of NASDAQ ISRG traded down $0.19 during trading hours on Friday, hitting $480.90. 2,029,963 shares of the company traded hands, compared to its average volume of 1,998,298. The stock has a market capitalization of $172.39 billion, a price-to-earnings ratio of 67.14, a price-to-earnings-growth ratio of 5.25 and a beta of 1.64. The company's 50 day moving average price is $525.14 and its 200 day moving average price is $533.73. Intuitive Surgical, Inc. has a 12 month low of $425.00 and a 12 month high of $616.00.

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 the consensus estimate of $1.93 by $0.26. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.35 billion. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%. Intuitive Surgical's quarterly revenue was up 21.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.78 EPS. Equities analysts anticipate that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

Intuitive Surgical Profile

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.