WASHINGTON TRUST Co Lowers Position in Intuitive Surgical, Inc. $ISRG

WASHINGTON TRUST Co decreased its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 1.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 43,114 shares of the medical equipment provider’s stock after selling 533 shares during the period. WASHINGTON TRUST Co’s holdings in Intuitive Surgical were worth $23,429,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of Intuitive Surgical by 24.9% during the 4th quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider’s stock valued at $1,916,000 after acquiring an additional 731 shares during the last quarter. Larson Financial Group LLC raised its holdings in Intuitive Surgical by 8.8% in the 1st quarter. Larson Financial Group LLC now owns 4,456 shares of the medical equipment provider’s stock valued at $2,207,000 after acquiring an additional 359 shares during the period. Bridgewater Advisors Inc. acquired a new position in shares of Intuitive Surgical during the 1st quarter worth $459,000. DDD Partners LLC acquired a new stake in shares of Intuitive Surgical in the first quarter valued at about $318,000. Finally, Cullen Frost Bankers Inc. lifted its stake in shares of Intuitive Surgical by 1.8% in the first quarter. Cullen Frost Bankers Inc. now owns 77,382 shares of the medical equipment provider’s stock valued at $38,325,000 after buying an additional 1,387 shares in the last quarter. Institutional investors own 83.64% of the company’s stock.

Insiders Place Their Bets

In related news, insider Gary S. Guthart sold 29,360 shares of the firm’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $472.49, for a total value of $13,872,306.40. Following the transaction, the insider directly owned 19,827 shares of the company’s stock, valued at approximately $9,368,059.23. This trade represents a 59.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David J. Rosa sold 24,500 shares of the company’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $547.55, for a total transaction of $13,414,975.00. Following the completion of the transaction, the chief executive officer owned 234,256 shares in the company, valued at $128,266,872.80. This represents a 9.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 101,683 shares of company stock worth $53,517,192 in the last three months. Corporate insiders own 0.70% of the company’s stock.

Intuitive Surgical Price Performance

ISRG stock traded down $1.09 during midday trading on Thursday, hitting $571.36. The company’s stock had a trading volume of 170,549 shares, compared to its average volume of 2,114,614. The company’s fifty day moving average price is $478.64 and its 200 day moving average price is $502.49. Intuitive Surgical, Inc. has a twelve month low of $425.00 and a twelve month high of $616.00. The stock has a market capitalization of $204.82 billion, a P/E ratio of 75.54, a PEG ratio of 4.94 and a beta of 1.62.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings data on Tuesday, October 21st. The medical equipment provider reported $2.40 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.41. The company had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Intuitive Surgical had a net margin of 28.58% and a return on equity of 15.08%. Intuitive Surgical’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.84 earnings per share. Equities analysts expect that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ISRG. Jefferies Financial Group boosted their price target on Intuitive Surgical from $550.00 to $560.00 and gave the company a “hold” rating in a report on Wednesday, October 22nd. Wall Street Zen lowered shares of Intuitive Surgical from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Piper Sandler boosted their price target on Intuitive Surgical from $595.00 to $610.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Argus increased their price objective on shares of Intuitive Surgical from $600.00 to $630.00 in a research report on Monday, October 27th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $685.00 target price on shares of Intuitive Surgical in a research report on Tuesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Intuitive Surgical has an average rating of “Moderate Buy” and a consensus target price of $608.92.

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.