Intuitive Surgical, Inc. $ISRG Stock: Renaissance Investment Group LLC Raises Holdings

Renaissance Investment Group LLC raised its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 7.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,539 shares of the medical equipment provider’s stock after acquiring an additional 2,170 shares during the quarter. Intuitive Surgical makes up 2.5% of Renaissance Investment Group LLC’s portfolio, making the stock its 17th biggest holding. Renaissance Investment Group LLC’s holdings in Intuitive Surgical were worth $12,011,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in ISRG. Bank of New York Mellon Corp acquired a new stake in shares of Intuitive Surgical during the 2nd quarter worth about $1,335,753,000. Arrowstreet Capital Limited Partnership raised its position in shares of Intuitive Surgical by 95.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,105,544 shares of the medical equipment provider’s stock valued at $970,635,000 after buying an additional 1,027,475 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Intuitive Surgical by 55.8% in the third quarter. Assenagon Asset Management S.A. now owns 1,557,940 shares of the medical equipment provider’s stock valued at $633,505,000 after buying an additional 558,099 shares during the last quarter. Amundi raised its position in shares of Intuitive Surgical by 8.6% in the first quarter. Amundi now owns 2,428,356 shares of the medical equipment provider’s stock valued at $1,119,448,000 after buying an additional 193,096 shares during the last quarter. Finally, Temasek Holdings Private Ltd lifted its stake in shares of Intuitive Surgical by 416.4% during the first quarter. Temasek Holdings Private Ltd now owns 227,211 shares of the medical equipment provider’s stock valued at $104,742,000 after buying an additional 183,211 shares during the period. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Amy L. Ladd sold 400 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $379.00, for a total transaction of $151,600.00. Following the completion of the sale, the director directly owned 251 shares of the company’s stock, valued at $95,129. The trade was a 61.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gary S. Guthart sold 20,095 shares of the company’s stock in a transaction on 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 owned 1,204,530 shares of the company’s stock, valued at approximately $543,977,793.30. The trade was a 1.64% 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. Insiders have sold a total of 38,778 shares of company stock valued at $16,814,967 in the last ninety days. 0.60% of the stock is owned by company insiders.

Intuitive Surgical Price Performance

Shares of ISRG stock opened at $432.01 on Friday. The firm has a market cap of $149.75 billion, a P/E ratio of 52.24, a PEG ratio of 3.09 and a beta of 1.46. Intuitive Surgical, Inc. has a 1-year low of $328.57 and a 1-year high of $603.88. The firm’s 50-day simple moving average is $401.54 and its 200-day simple moving average is $434.05.

Intuitive Surgical (NASDAQ:ISRG) last released its earnings results on Tuesday, October 20th. The medical equipment provider reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.65 by $0.35. Intuitive Surgical had a net margin of 25.54% and a return on equity of 18.17%. The business had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $2.91 billion. During the same period last year, the company earned $2.40 earnings per share. The company’s quarterly revenue was up 21.7% on a year-over-year basis. Analysts expect that Intuitive Surgical, Inc. will post 9.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ISRG has been the topic of a number of analyst reports. Zacks Research upgraded shares of Intuitive Surgical from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 22nd. KeyCorp reiterated an “overweight” rating on shares of Intuitive Surgical in a report on Wednesday, August 12th. Citigroup reduced their price target on Intuitive Surgical from $590.00 to $500.00 and set a “buy” rating on the stock in a research note on Friday, July 17th. JPMorgan Chase & Co. raised their price objective on Intuitive Surgical from $450.00 to $475.00 and gave the stock an “overweight” rating in a report on Wednesday, October 21st. Finally, Raymond James Financial restated an “outperform” rating and set a $480.00 price objective on shares of Intuitive Surgical in a report on Wednesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $493.54.

Intuitive Surgical Profile

Intuitive Surgical, Inc develops and manufactures robotic-assisted systems and related technologies for minimally invasive surgery. Its products are designed to help surgeons perform procedures through small incisions while providing enhanced visualization, precision and control. The company’s primary platform is the da Vinci Surgical System, which is used across a range of specialties, including urology, gynecology, general surgery, cardiothoracic surgery and other procedures.

The company also offers the Ion endoluminal system, which is designed to support minimally invasive lung biopsy procedures.