Citizens Financial Group Inc. RI Lowers Position in Intuitive Surgical, Inc. $ISRG

Citizens Financial Group Inc. RI lessened its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 48.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,607 shares of the medical equipment provider’s stock after selling 8,028 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Intuitive Surgical were worth $3,968,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ISRG. Newbridge Financial Services Group Inc. raised its stake in Intuitive Surgical by 300.0% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 44 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 33 shares in the last quarter. Holos Integrated Wealth LLC bought a new stake in Intuitive Surgical during the fourth quarter valued at approximately $25,000. Olistico Wealth LLC purchased a new position in Intuitive Surgical in the 4th quarter worth approximately $28,000. Laurel Wealth Advisors LLC purchased a new position in Intuitive Surgical in the 4th quarter worth approximately $31,000. Finally, Turning Point Benefit Group Inc. increased its holdings in shares of Intuitive Surgical by 833.3% in the 4th quarter. Turning Point Benefit Group Inc. now owns 56 shares of the medical equipment provider’s stock worth $32,000 after buying an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Citigroup restated a “buy” rating on shares of Intuitive Surgical in a research report on Wednesday. Wall Street Zen upgraded shares of Intuitive Surgical from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. TD Cowen reduced their target price on Intuitive Surgical from $660.00 to $585.00 and set a “buy” rating on the stock in a research note on Wednesday, April 22nd. BTIG Research restated a “buy” rating and set a $574.00 price target on shares of Intuitive Surgical in a research report on Wednesday, April 22nd. Finally, The Goldman Sachs Group set a $558.00 price target on Intuitive Surgical in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $569.20.

Insider Activity

In related news, EVP Gary Loeb sold 400 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total transaction of $169,656.00. Following the completion of the sale, the executive vice president directly owned 5,720 shares in the company, valued at $2,426,080.80. This represents a 6.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Iman Jeddi sold 5,625 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $420.55, for a total value of $2,365,593.75. Following the transaction, the senior vice president owned 6,463 shares in the company, valued at approximately $2,718,014.65. The trade was a 46.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 7,169 shares of company stock valued at $3,059,135. Insiders own 0.60% of the company’s stock.

Intuitive Surgical Price Performance

Shares of NASDAQ:ISRG opened at $406.78 on Monday. The stock has a market cap of $144.07 billion, a PE ratio of 49.31, a PEG ratio of 3.31 and a beta of 1.46. The company’s fifty day moving average is $422.09 and its 200 day moving average is $473.91. Intuitive Surgical, Inc. has a 52 week low of $396.68 and a 52 week high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.42. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same period in the prior year, the business posted $1.81 earnings per share. The company’s revenue was up 23.0% on a year-over-year basis. Sell-side analysts anticipate that Intuitive Surgical, Inc. will post 8.57 EPS for the current year.

Trending Headlines about Intuitive Surgical

Here are the key news stories impacting Intuitive Surgical this week:

• Positive Sentiment: BMO Capital Markets upgraded Intuitive Surgical to strong-buy, which can help sentiment by signaling confidence in the stock’s long-term outlook. Zacks.com
• Positive Sentiment: Investor interest remains supported by expectations that July 16 results will show higher sales and EPS, with strong adoption of the da Vinci 5 surgical robot seen as a key growth driver. ISRG to Report Q2 Results Next Week: Should You Buy the Stock Now?
• Neutral Sentiment: Evercore ISI cut its price target to $430 from $480 while keeping an In Line rating, suggesting the company still has growth potential but investors may be more cautious on near-term upside. Is Intuitive Surgical (ISRG) One Of MedTech’s Best AI Stock To Buy?
• Neutral Sentiment: Options traders are pricing in a wide range of outcomes for ISRG ahead of earnings, reflecting uncertainty around how the report and guidance could move the stock. Just How Much Risk Is Built Into ISRG Stock?
• Negative Sentiment: Investors are weighing possible margin pressure, which could limit enthusiasm even if revenue and earnings grow next quarter. ISRG to Report Q2 Results Next Week: Should You Buy the Stock Now?

Intuitive Surgical Profile

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon’s hand movements into finer, scaled motions of small instruments inside the patient. Intuitive’s business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.