Wesbanco Bank Inc. Has $10.86 Million Stake in Intuitive Surgical, Inc. $ISRG

Key Points

• Wesbanco Bank boosted its stake in Intuitive Surgical by 1,349.5% in the first quarter, ending with 23,555 shares valued at about $10.86 million.
• Intuitive Surgical reported strong quarterly results, with EPS of $2.50 beating estimates and revenue of $2.77 billion, up 23% year over year.
• Analyst sentiment remains mixed but generally positive: the stock has a Moderate Buy consensus, with 19 Buy ratings and an average price target of $573.42.

Wesbanco Bank Inc. increased its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 1,349.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,555 shares of the medical equipment provider's stock after purchasing an additional 21,930 shares during the quarter. Wesbanco Bank Inc.'s holdings in Intuitive Surgical were worth $10,859,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Riversedge Advisors LLC increased its stake in shares of Intuitive Surgical by 1.9% in the fourth quarter. Riversedge Advisors LLC now owns 901 shares of the medical equipment provider's stock worth $510,000 after acquiring an additional 17 shares during the last quarter. Fiduciary Financial Group LLC boosted its position in Intuitive Surgical by 2.1% during the fourth quarter. Fiduciary Financial Group LLC now owns 920 shares of the medical equipment provider's stock valued at $521,000 after purchasing an additional 19 shares during the last quarter. Prosperity Consulting Group LLC grew its stake in Intuitive Surgical by 0.5% in the third quarter. Prosperity Consulting Group LLC now owns 4,033 shares of the medical equipment provider's stock valued at $1,804,000 after purchasing an additional 19 shares in the last quarter. Sunburst Financial Group LLC grew its stake in Intuitive Surgical by 4.3% in the fourth quarter. Sunburst Financial Group LLC now owns 485 shares of the medical equipment provider's stock valued at $275,000 after purchasing an additional 20 shares in the last quarter. Finally, WoodTrust Financial Corp increased its position in Intuitive Surgical by 0.5% in the 4th quarter. WoodTrust Financial Corp now owns 4,180 shares of the medical equipment provider's stock worth $2,367,000 after purchasing an additional 20 shares during the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

Intuitive Surgical Stock Up 1.3%

Shares of Intuitive Surgical stock opened at $404.70 on Friday. Intuitive Surgical, Inc. has a 12-month low of $396.68 and a 12-month high of $603.88. The stock has a 50 day moving average price of $432.67 and a two-hundred day moving average price of $484.61. The stock has a market capitalization of $143.33 billion, a P/E ratio of 49.05, a PEG ratio of 3.25 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.08 by $0.42. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates 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 was up 23.0% compared to the same quarter last year. During the same period last year, the business posted $1.81 EPS. Sell-side analysts anticipate that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current year.

Insider Transactions at Intuitive Surgical

In other news, EVP Gary Loeb sold 400 shares of the company's stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total transaction of $169,656.00. Following the completion of the transaction, the executive vice president directly owned 5,720 shares in the company, valued at $2,426,080.80. The trade was a 6.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 500 shares of the firm'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 completion of the sale, the director owned 239 shares in the company, valued at approximately $113,156.94. The trade was a 67.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 7,169 shares of company stock worth $3,059,135. Company insiders own 0.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ISRG shares. Robert W. Baird lifted their price target on Intuitive Surgical from $575.00 to $610.00 and gave the company an "outperform" rating in a report on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft dropped their price objective on Intuitive Surgical from $440.00 to $366.00 and set a "sell" rating on the stock in a report on Tuesday, June 2nd. Evercore cut their price objective on shares of Intuitive Surgical from $550.00 to $480.00 and set a "neutral" rating on the stock in a research report on Monday, April 6th. Raymond James Financial decreased their target price 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. Finally, Wall Street Zen upgraded shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a research note on Saturday, June 13th. Nineteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Intuitive Surgical presently has a consensus rating of "Moderate Buy" and an average price target of $573.42.

About Intuitive Surgical

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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