CNB Bank Sells 91 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

CNB Bank lowered its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,096 shares of the medical equipment provider’s stock after selling 91 shares during the quarter. Intuitive Surgical makes up 1.0% of CNB Bank’s portfolio, making the stock its 23rd biggest position. CNB Bank’s holdings in Intuitive Surgical were worth $2,138,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Godsey & Gibb Inc. grew its stake in Intuitive Surgical by 140.0% in the third quarter. Godsey & Gibb Inc. now owns 60 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 35 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in Intuitive Surgical during the third quarter valued at approximately $33,000. Decker Retirement Planning Inc. acquired a new stake in Intuitive Surgical in the fourth quarter valued at approximately $36,000. Mark Sheptoff Financial Planning LLC purchased a new position in Intuitive Surgical in the second quarter worth $37,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Intuitive Surgical during the third quarter worth $38,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Stock Performance

ISRG opened at $584.23 on Friday. The business’s 50 day moving average price is $538.34 and its 200 day moving average price is $497.08. The stock has a market capitalization of $208.09 billion, a PE ratio of 94.19, a P/E/G ratio of 4.66 and a beta of 1.39. Intuitive Surgical, Inc. has a one year low of $362.14 and a one year high of $590.07.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings results on Thursday, October 17th. The medical equipment provider reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.32. The business had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Intuitive Surgical had a return on equity of 13.41% and a net margin of 28.51%. As a group, equities research analysts forecast that Intuitive Surgical, Inc. will post 5.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ISRG has been the subject of several research analyst reports. Erste Group Bank raised shares of Intuitive Surgical from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Leerink Partners boosted their price target on Intuitive Surgical from $489.00 to $502.00 in a research note on Thursday, October 17th. Oppenheimer reiterated a “market perform” rating on shares of Intuitive Surgical in a research note on Friday, October 18th. BTIG Research increased their price target on Intuitive Surgical from $535.00 to $561.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, The Goldman Sachs Group set a $604.00 price target on Intuitive Surgical in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Intuitive Surgical presently has a consensus rating of “Moderate Buy” and an average price target of $554.17.

Insiders Place Their Bets

In related news, CEO Gary S. Guthart sold 18,151 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $511.63, for a total value of $9,286,596.13. Following the sale, the chief executive officer now owns 24,219 shares in the company, valued at approximately $12,391,166.97. The trade was a 42.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert Desantis sold 188 shares of Intuitive Surgical stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $506.52, for a total value of $95,225.76. Following the completion of the transaction, the executive vice president now directly owns 5,506 shares of the company’s stock, valued at approximately $2,788,899.12. This represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,190 shares of company stock valued at $25,012,927 over the last 90 days. 0.80% of the stock is owned by company insiders.

Intuitive Surgical Company 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.