Intuitive Surgical, Inc. $ISRG Stock: Cornerstone Advisors LLC Decreases Holdings

Cornerstone Advisors LLC reduced its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 5.9% in the 3rd quarter, Holdings Channel reports. The firm owned 45,332 shares of the medical equipment provider’s stock after selling 2,853 shares during the quarter. Cornerstone Advisors LLC’s holdings in Intuitive Surgical were worth $18,433,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Fairscale Capital LLC grew its position in shares of Intuitive Surgical by 3.5% in the 3rd quarter. Fairscale Capital LLC now owns 645 shares of the medical equipment provider’s stock valued at $279,000 after buying an additional 22 shares during the last quarter. Beaumont Financial Advisors LLC increased its stake in shares of Intuitive Surgical by 3.8% in the third quarter. Beaumont Financial Advisors LLC now owns 627 shares of the medical equipment provider’s stock valued at $255,000 after buying an additional 23 shares during the period. Hughes Financial Services LLC raised its position in shares of Intuitive Surgical by 40.7% during the third quarter. Hughes Financial Services LLC now owns 83 shares of the medical equipment provider’s stock worth $37,000 after acquiring an additional 24 shares during the last quarter. W.G. Shaheen & Associates DBA Whitney & Co raised its position in shares of Intuitive Surgical by 1.0% during the first quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 2,542 shares of the medical equipment provider’s stock worth $1,172,000 after acquiring an additional 25 shares during the last quarter. Finally, Blue Fin Capital Inc. raised its position in shares of Intuitive Surgical by 0.5% during the first quarter. Blue Fin Capital Inc. now owns 4,794 shares of the medical equipment provider’s stock worth $2,210,000 after acquiring an additional 25 shares during the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Craig H. Barratt sold 1,150 shares of the stock in a transaction that occurred on Friday, October 23rd. The shares were sold at an average price of $443.80, for a total transaction of $510,370.00. Following the completion of the transaction, the director directly owned 1,150 shares of the company’s stock, valued at $510,370. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Fredrik Widman sold 4,047 shares of the stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $453.21, for a total value of $1,834,140.87. Following the transaction, the vice president directly owned 1,026 shares of the company’s stock, valued at approximately $464,993.46. This trade represents a 79.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 39,456 shares of company stock worth $17,769,124. Company insiders own 0.60% of the company’s stock.

Intuitive Surgical Price Performance

Shares of NASDAQ:ISRG opened at $443.59 on Friday. The company has a market capitalization of $153.77 billion, a price-to-earnings ratio of 53.64, a P/E/G ratio of 3.03 and a beta of 1.45. The business’s 50-day moving average is $417.59 and its 200-day moving average is $429.98. Intuitive Surgical, Inc. has a 1 year low of $328.57 and a 1 year high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last announced its earnings results on Tuesday, October 20th. The medical equipment provider reported $3.00 EPS for the quarter, beating the consensus estimate of $2.65 by $0.35. Intuitive Surgical had a return on equity of 18.17% and a net margin of 25.54%. The company had revenue of $3.05 billion for the quarter, compared to analyst estimates of $2.91 billion. During the same quarter in the prior year, the company earned $2.40 EPS. The firm’s revenue for the quarter was up 21.7% compared to the same quarter last year. Analysts anticipate that Intuitive Surgical, Inc. will post 9.37 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on ISRG shares. Barclays reaffirmed an “overweight” rating and issued a $500.00 price objective (up from $485.00) on shares of Intuitive Surgical in a research note on Wednesday, October 21st. TD Cowen reissued a “buy” rating and set a $485.00 target price on shares of Intuitive Surgical in a research report on Monday, October 19th. Erste Group Bank upgraded shares of Intuitive Surgical from a “hold” rating to a “buy” rating in a research report on Wednesday, October 21st. Mizuho reduced their price objective on shares of Intuitive Surgical from $415.00 to $400.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 21st. Finally, Citigroup decreased their price objective on shares of Intuitive Surgical from $590.00 to $500.00 and set a “buy” rating for the company in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $493.54.

Intuitive Surgical Company Profile

Intuitive Surgical develops, manufactures and markets robotic-assisted systems for minimally invasive procedures. Its products include da Vinci surgical systems, which allow surgeons to control instruments and a high-definition vision system from a console, as well as the Ion endoluminal system, designed to assist with minimally invasive lung biopsies. The company also provides instruments, accessories, training and support services for its systems. Its technology is used in a range of surgical specialties, including urology, general surgery and gynecology.