Renaissance Investment Group LLC Invests $2.14 Million in Intuitive Surgical, Inc. (NASDAQ:ISRG) Stock

Renaissance Investment Group LLC purchased a new position in Intuitive Surgical, Inc. (NASDAQ:ISRG) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,745 shares of the medical equipment provider’s stock, valued at approximately $2,137,000.

Other institutional investors have also bought and sold shares of the company. Morgan Stanley grew its stake in shares of Intuitive Surgical by 119.5% in the 3rd quarter. Morgan Stanley now owns 2,856,195 shares of the medical equipment provider’s stock worth $1,639,456,000 after buying an additional 1,554,896 shares in the last quarter. Mn Services Vermogensbeheer B.V. lifted its holdings in Intuitive Surgical by 7.2% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 19,288 shares of the medical equipment provider’s stock valued at $8,081,000 after buying an additional 1,300 shares in the last quarter. Stevens Capital Management LP bought a new stake in shares of Intuitive Surgical in the 4th quarter valued at about $6,786,000. Sigma Planning Corp raised its holdings in shares of Intuitive Surgical by 4.8% in the 4th quarter. Sigma Planning Corp now owns 3,270 shares of the medical equipment provider’s stock valued at $1,566,000 after purchasing an additional 149 shares in the last quarter. Finally, Larson Financial Group LLC bought a new stake in shares of Intuitive Surgical in the 4th quarter valued at about $91,000. 84.93% of the stock is owned by institutional investors and hedge funds.

In other news, VP Jamie Samath sold 2,236 shares of the business’s stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $547.36, for a total transaction of $1,223,896.96. Following the completion of the sale, the vice president now owns 636 shares in the company, valued at approximately $348,120.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gary S. Guthart sold 22,636 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $501.48, for a total value of $11,351,501.28. Following the completion of the transaction, the chief executive officer now owns 386,866 shares of the company’s stock, valued at approximately $194,005,561.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,266 shares of company stock valued at $16,451,271. Corporate insiders own 1.70% of the company’s stock.

ISRG has been the subject of several recent research reports. Canaccord Genuity restated a “buy” rating and issued a $575.00 price target (down previously from $610.00) on shares of Intuitive Surgical in a report on Monday, April 22nd. Citigroup reduced their price objective on shares of Intuitive Surgical from $684.00 to $611.00 and set a “buy” rating for the company in a research note on Tuesday, April 23rd. BidaskClub downgraded shares of Intuitive Surgical from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, April 16th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $610.00 price objective on shares of Intuitive Surgical in a report on Thursday, April 18th. Finally, Royal Bank of Canada set a $560.00 target price on shares of Intuitive Surgical and gave the company a “hold” rating in a research note on Thursday, February 28th. Two analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $578.94.

NASDAQ:ISRG opened at $495.31 on Friday. The firm has a market capitalization of $57.27 billion, a P/E ratio of 52.19, a PEG ratio of 4.33 and a beta of 1.02. Intuitive Surgical, Inc. has a 1-year low of $430.24 and a 1-year high of $589.32.

Intuitive Surgical (NASDAQ:ISRG) last announced its earnings results on Thursday, April 18th. The medical equipment provider reported $2.61 earnings per share for the quarter, missing the consensus estimate of $2.70 by ($0.09). Intuitive Surgical had a net margin of 29.78% and a return on equity of 17.33%. The firm had revenue of $974.00 million during the quarter, compared to analyst estimates of $975.27 million. During the same period in the previous year, the firm posted $2.44 EPS. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. As a group, equities analysts anticipate that Intuitive Surgical, Inc. will post 9.4 earnings per share for the current year.

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Intuitive Surgical Company Profile

Intuitive Surgical, Inc designs, manufactures, and markets da Vinci surgical systems, and related instruments and accessories. Its da Vinci Surgical System transforms the surgeon's natural hand movements outside the body into corresponding micro-movements inside the patient's body. The company's da Vinci Surgical System include surgeon's consoles, patient-side carts, 3-D vision systems, da Vinci skills simulators, da Vinci Xi integrated table motions, and Firefly fluorescence imaging products that enable surgeons to perform various surgical procedures, including gynecologic, urologic, general, cardiothoracic, and head and neck surgical procedures.

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Institutional Ownership by Quarter for Intuitive Surgical (NASDAQ:ISRG)

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