Penobscot Investment Management Company Inc. Reduces Stake in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Penobscot Investment Management Company Inc. decreased its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 3.2% during the first quarter, HoldingsChannel.com reports. The firm owned 2,969 shares of the medical equipment provider’s stock after selling 99 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Intuitive Surgical were worth $1,470,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ISRG. Brighton Jones LLC lifted its holdings in Intuitive Surgical by 24.9% during the 4th quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider’s stock worth $1,916,000 after purchasing an additional 731 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its holdings in Intuitive Surgical by 0.5% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 190,969 shares of the medical equipment provider’s stock worth $99,678,000 after purchasing an additional 883 shares in the last quarter. Wealthspire Advisors LLC increased its stake in Intuitive Surgical by 28.6% in the 4th quarter. Wealthspire Advisors LLC now owns 1,645 shares of the medical equipment provider’s stock worth $859,000 after acquiring an additional 366 shares during the last quarter. BankPlus Trust Department bought a new position in Intuitive Surgical in the 4th quarter worth about $28,000. Finally, Kirtland Hills Capital Management LLC increased its stake in Intuitive Surgical by 15.0% in the 4th quarter. Kirtland Hills Capital Management LLC now owns 1,125 shares of the medical equipment provider’s stock worth $587,000 after acquiring an additional 147 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Stock Performance

NASDAQ ISRG opened at $521.63 on Thursday. Intuitive Surgical, Inc. has a fifty-two week low of $413.82 and a fifty-two week high of $616.00. The stock has a 50 day simple moving average of $530.03 and a two-hundred day simple moving average of $536.86. The stock has a market cap of $186.96 billion, a P/E ratio of 76.49, a price-to-earnings-growth ratio of 5.55 and a beta of 1.67.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings data on Tuesday, April 22nd. The medical equipment provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.10. Intuitive Surgical had a return on equity of 14.43% and a net margin of 28.41%. The business had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter last year, the business posted $1.50 EPS. Sell-side analysts predict that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Erste Group Bank upgraded Intuitive Surgical from a “hold” rating to a “buy” rating in a research note on Thursday, June 5th. Evercore ISI reduced their price objective on Intuitive Surgical from $510.00 to $470.00 and set an “in-line” rating on the stock in a research report on Wednesday, April 23rd. Royal Bank Of Canada reduced their price objective on Intuitive Surgical from $630.00 to $605.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Citigroup reiterated a “buy” rating and set a $650.00 price objective (up from $590.00) on shares of Intuitive Surgical in a research report on Thursday, May 22nd. Finally, Barclays reduced their price objective on Intuitive Surgical from $684.00 to $635.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $588.95.

Insiders Place Their Bets

In other Intuitive Surgical news, Director Jami K. Nachtsheim sold 2,400 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $520.00, for a total value of $1,248,000.00. Following the completion of the sale, the director now owns 6,371 shares in the company, valued at approximately $3,312,920. This trade represents a 27.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert Desantis sold 188 shares of the stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $515.91, for a total value of $96,991.08. Following the completion of the sale, the executive vice president now owns 5,224 shares of the company’s stock, valued at approximately $2,695,113.84. This trade represents a 3.47% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,998 shares of company stock worth $2,611,577. 0.70% of the stock is currently owned by company insiders.

About Intuitive Surgical

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.