Fifth Third Bancorp Sells 28,315 Shares of Intuitive Surgical, Inc. $ISRG

Fifth Third Bancorp lowered its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 9.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 279,022 shares of the medical equipment provider’s stock after selling 28,315 shares during the quarter. Fifth Third Bancorp’s holdings in Intuitive Surgical were worth $113,459,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ISRG. North Point Portfolio Managers Corp OH bought a new position in shares of Intuitive Surgical in the third quarter valued at approximately $27,000. John Boyer Inc. purchased a new stake in shares of Intuitive Surgical during the third quarter valued at approximately $27,000. Compass Wealth Management LLC bought a new stake in Intuitive Surgical during the third quarter worth $29,000. Main Street Group LTD bought a new stake in Intuitive Surgical during the first quarter worth $30,000. Finally, Compass Financial Management LLC bought a new stake in Intuitive Surgical during the second quarter worth $30,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Trading Down 0.1%

ISRG opened at $449.53 on Thursday. Intuitive Surgical, Inc. has a 12 month low of $328.57 and a 12 month high of $603.88. The company has a market cap of $155.83 billion, a PE ratio of 54.36, a price-to-earnings-growth ratio of 3.10 and a beta of 1.45. The company has a 50 day moving average of $414.76 and a 200 day moving average of $430.83.

Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Tuesday, October 20th. The medical equipment provider reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.65 by $0.35. The business had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $2.91 billion. Intuitive Surgical had a net margin of 25.54% and a return on equity of 18.17%. The business’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.40 EPS. Research analysts forecast that Intuitive Surgical, Inc. will post 9.37 earnings per share for the current fiscal year.

Analyst Ratings Changes

ISRG has been the topic of several research analyst reports. Erste Group Bank raised Intuitive Surgical from a “hold” rating to a “buy” rating in a research report on Wednesday, October 21st. Truist Financial decreased their target price on Intuitive Surgical from $580.00 to $510.00 and set a “buy” rating for the company in a research report on Thursday, July 16th. Oppenheimer reiterated an “outperform” rating and set a $500.00 target price on shares of Intuitive Surgical in a research note on Wednesday, October 21st. JPMorgan Chase & Co. boosted their price target on shares of Intuitive Surgical from $450.00 to $475.00 and gave the stock an “overweight” rating in a report on Wednesday, October 21st. Finally, Piper Sandler reissued an “overweight” rating on shares of Intuitive Surgical in a report on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $493.54.

Insider Transactions at Intuitive Surgical

In related news, SVP Patricia L. Wadors sold 1,078 shares of the stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $443.80, for a total transaction of $478,416.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gary S. Guthart sold 20,095 shares of the stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $451.61, for a total value of $9,075,102.95. Following the sale, the director directly owned 1,204,530 shares in the company, valued at $543,977,793.30. This trade represents a 1.64% decrease in their position. 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 39,056 shares of company stock valued at $17,585,864. 0.60% of the stock is currently owned by company insiders.

About Intuitive Surgical

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.