CNB Bank Trims Stock Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

CNB Bank reduced its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 7.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,187 shares of the medical equipment provider’s stock after selling 321 shares during the quarter. Intuitive Surgical accounts for 1.0% of CNB Bank’s investment portfolio, making the stock its 25th biggest holding. CNB Bank’s holdings in Intuitive Surgical were worth $2,057,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Ullmann Wealth Partners Group LLC increased its position in Intuitive Surgical by 1.6% during the 3rd quarter. Ullmann Wealth Partners Group LLC now owns 1,329 shares of the medical equipment provider’s stock worth $653,000 after purchasing an additional 21 shares during the period. One Wealth Management Investment & Advisory Services LLC raised its position in Intuitive Surgical by 3.4% in the second quarter. One Wealth Management Investment & Advisory Services LLC now owns 697 shares of the medical equipment provider’s stock worth $310,000 after acquiring an additional 23 shares in the last quarter. Daymark Wealth Partners LLC lifted its holdings in Intuitive Surgical by 0.3% in the third quarter. Daymark Wealth Partners LLC now owns 7,027 shares of the medical equipment provider’s stock valued at $3,452,000 after acquiring an additional 24 shares during the period. Indiana Trust & Investment Management CO boosted its position in shares of Intuitive Surgical by 5.3% during the 2nd quarter. Indiana Trust & Investment Management CO now owns 500 shares of the medical equipment provider’s stock worth $222,000 after purchasing an additional 25 shares in the last quarter. Finally, Hoxton Planning & Management LLC grew its stake in shares of Intuitive Surgical by 4.9% during the 2nd quarter. Hoxton Planning & Management LLC now owns 534 shares of the medical equipment provider’s stock worth $238,000 after purchasing an additional 25 shares during the period. Institutional investors and hedge funds own 83.64% of the company’s stock.

Intuitive Surgical Stock Performance

Shares of NASDAQ ISRG opened at $521.15 on Friday. The firm’s 50 day moving average price is $483.85 and its 200 day moving average price is $438.17. The firm has a market cap of $184.85 billion, a P/E ratio of 94.07, a price-to-earnings-growth ratio of 5.40 and a beta of 1.39. Intuitive Surgical, Inc. has a 1 year low of $254.85 and a 1 year high of $523.34.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings data on Thursday, July 18th. The medical equipment provider reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.24. Intuitive Surgical had a return on equity of 13.04% and a net margin of 27.65%. The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the previous year, the business earned $1.18 earnings per share. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, equities analysts predict that Intuitive Surgical, Inc. will post 5.22 EPS for the current year.

Insiders Place Their Bets

In related news, Director Amal M. Johnson sold 2,943 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $443.30, for a total value of $1,304,631.90. Following the sale, the director now directly owns 12,275 shares of the company’s stock, valued at approximately $5,441,507.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Amy L. Ladd sold 450 shares of Intuitive Surgical stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $490.28, for a total value of $220,626.00. Following the transaction, the director now directly owns 821 shares of the company’s stock, valued at $402,519.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Amal M. Johnson sold 2,943 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $443.30, for a total transaction of $1,304,631.90. Following the sale, the director now directly owns 12,275 shares of the company’s stock, valued at approximately $5,441,507.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 53,120 shares of company stock valued at $25,528,753. Insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. BTIG Research set a $535.00 price objective on shares of Intuitive Surgical in a report on Friday. The Goldman Sachs Group set a $604.00 price target on Intuitive Surgical in a research note on Friday. Robert W. Baird raised their price objective on Intuitive Surgical from $503.00 to $565.00 and gave the company an “outperform” rating in a research note on Thursday. Raymond James boosted their target price on Intuitive Surgical from $500.00 to $540.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. raised their price target on Intuitive Surgical from $495.00 to $575.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Intuitive Surgical has a consensus rating of “Moderate Buy” and a consensus price target of $513.74.

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.