Intuitive Surgical, Inc. (NASDAQ:ISRG) Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC cut its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 20.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 173,100 shares of the medical equipment provider’s stock after selling 45,651 shares during the period. CIBC Private Wealth Group LLC’s holdings in Intuitive Surgical were worth $93,462,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Intuitive Surgical by 2.0% during the second quarter. Vanguard Group Inc. now owns 8,826,059 shares of the medical equipment provider’s stock valued at $4,629,709,000 after acquiring an additional 169,521 shares during the last quarter. Morgan Stanley boosted its stake in shares of Intuitive Surgical by 39.1% in the second quarter. Morgan Stanley now owns 4,288,986 shares of the medical equipment provider’s stock valued at $2,249,785,000 after purchasing an additional 1,204,750 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Intuitive Surgical by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 2,768,213 shares of the medical equipment provider’s stock valued at $1,452,065,000 after purchasing an additional 68,868 shares during the period. Edgewood Management LLC boosted its stake in shares of Intuitive Surgical by 1.1% in the second quarter. Edgewood Management LLC now owns 2,453,310 shares of the medical equipment provider’s stock valued at $1,286,884,000 after purchasing an additional 26,298 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in shares of Intuitive Surgical by 6.2% in the second quarter. Janus Henderson Group PLC now owns 1,896,235 shares of the medical equipment provider’s stock valued at $994,664,000 after purchasing an additional 110,885 shares during the period. Institutional investors and hedge funds own 85.90% of the company’s stock.

In related news, COO Salvatore Brogna sold 1,171 shares of Intuitive Surgical stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $505.23, for a total value of $591,624.33. Following the completion of the transaction, the chief operating officer now owns 5,933 shares in the company, valued at $2,997,529.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Curet Myriam sold 4,974 shares of Intuitive Surgical stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $532.14, for a total transaction of $2,646,864.36. Following the completion of the transaction, the executive vice president now owns 3,851 shares of the company’s stock, valued at approximately $2,049,271.14. The disclosure for this sale can be found here. Insiders sold 25,869 shares of company stock valued at $13,664,252 in the last quarter. 1.70% of the stock is owned by insiders.

Intuitive Surgical stock traded up $2.86 during trading on Wednesday, reaching $531.07. The stock had a trading volume of 24,395 shares, compared to its average volume of 583,587. Intuitive Surgical, Inc. has a 52-week low of $430.24 and a 52-week high of $589.32. The business has a 50 day moving average price of $519.05 and a 200 day moving average price of $517.71. The stock has a market cap of $60.68 billion, a PE ratio of 55.95, a P/E/G ratio of 3.80 and a beta of 1.13.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings results on Thursday, July 18th. The medical equipment provider reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $1.02. Intuitive Surgical had a net margin of 29.95% and a return on equity of 17.35%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the firm earned $2.76 earnings per share. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. As a group, sell-side analysts expect that Intuitive Surgical, Inc. will post 10.12 EPS for the current fiscal year.

ISRG has been the subject of several recent research reports. Piper Jaffray Companies raised their price objective on shares of Intuitive Surgical from $610.00 to $633.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Northland Securities set a $375.00 price objective on shares of Intuitive Surgical and gave the company a “sell” rating in a research note on Friday, July 19th. ValuEngine lowered shares of Intuitive Surgical from a “hold” rating to a “sell” rating in a research note on Friday, July 12th. Cantor Fitzgerald set a $620.00 price objective on shares of Intuitive Surgical and gave the company a “buy” rating in a research note on Friday, July 19th. Finally, UBS Group set a $560.00 price objective on shares of Intuitive Surgical and gave the company a “hold” rating in a research note on Friday, July 19th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $575.33.

About Intuitive Surgical

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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