Fifth Third Bancorp Sells 28,315 Shares of Intuitive Surgical, Inc. $ISRG

Fifth Third Bancorp lowered its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 9.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 279,022 shares of the medical equipment provider’s stock after selling 28,315 shares during the quarter. Fifth Third Bancorp owned about 0.08% of Intuitive Surgical worth $113,459,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. Fairscale Capital LLC raised its position in shares of Intuitive Surgical by 3.5% in the 3rd quarter. Fairscale Capital LLC now owns 645 shares of the medical equipment provider’s stock worth $279,000 after acquiring an additional 22 shares in the last quarter. Beaumont Financial Advisors LLC lifted its stake in shares of Intuitive Surgical by 3.8% in the 3rd quarter. Beaumont Financial Advisors LLC now owns 627 shares of the medical equipment provider’s stock valued at $255,000 after purchasing an additional 23 shares during the period. Hughes Financial Services LLC boosted its position in shares of Intuitive Surgical by 40.7% during the 3rd quarter. Hughes Financial Services LLC now owns 83 shares of the medical equipment provider’s stock valued at $37,000 after purchasing an additional 24 shares in the last quarter. W.G. Shaheen & Associates DBA Whitney & Co boosted its position in shares of Intuitive Surgical by 1.0% during the 1st quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 2,542 shares of the medical equipment provider’s stock valued at $1,172,000 after purchasing an additional 25 shares in the last quarter. Finally, Blue Fin Capital Inc. boosted its position in shares of Intuitive Surgical by 0.5% during the 1st quarter. Blue Fin Capital Inc. now owns 4,794 shares of the medical equipment provider’s stock valued at $2,210,000 after purchasing an additional 25 shares in the last quarter. Institutional investors own 83.64% of the company’s stock.

Wall Street Analyst Weigh In

ISRG has been the subject of several recent analyst reports. Robert W. Baird raised their target price on Intuitive Surgical from $513.00 to $550.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 21st. Oppenheimer reissued an “outperform” rating and issued a $500.00 price target on shares of Intuitive Surgical in a research note on Wednesday, October 21st. JPMorgan Chase & Co. increased their price target on Intuitive Surgical from $450.00 to $475.00 and gave the stock an “overweight” rating in a report on Wednesday, October 21st. Mizuho reduced their price objective on shares of Intuitive Surgical from $415.00 to $400.00 and set a “neutral” rating for the company in a research report on Wednesday, October 21st. Finally, Zacks Research upgraded shares of Intuitive Surgical from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 22nd. 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 given a Sell rating to the company. According to data from MarketBeat, Intuitive Surgical presently has an average rating of “Moderate Buy” and a consensus target price of $493.54.

Intuitive Surgical Stock Performance

ISRG stock opened at $449.53 on Thursday. The company has a market capitalization of $155.83 billion, a P/E ratio of 54.36, a price-to-earnings-growth ratio of 3.10 and a beta of 1.45. Intuitive Surgical, Inc. has a 52-week low of $328.57 and a 52-week high of $603.88. The business has a 50-day simple moving average of $414.76 and a two-hundred day simple moving average of $430.83.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings data on Tuesday, October 20th. The medical equipment provider reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.65 by $0.35. The firm had revenue of $3.05 billion during the quarter, compared to analyst estimates of $2.91 billion. Intuitive Surgical had a return on equity of 18.17% and a net margin of 25.54%. The company’s revenue for the quarter was up 21.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.40 EPS. As a group, sell-side analysts forecast that Intuitive Surgical, Inc. will post 9.37 earnings per share for the current fiscal year.

Insider Activity at Intuitive Surgical

In related news, SVP Patricia Wadors sold 1,078 shares of the stock in a transaction on Friday, October 23rd. The stock was sold at an average price of $443.80, for a total value of $478,416.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Fredrik Widman sold 4,047 shares of the firm’s stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $453.21, for a total value of $1,834,140.87. Following the transaction, the vice president owned 1,026 shares in the company, valued at approximately $464,993.46. This trade represents a 79.78% 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 39,056 shares of company stock valued at $17,585,864 over the last 90 days. Corporate insiders own 0.60% of the company’s stock.

About Intuitive Surgical

Intuitive Surgical develops, manufactures and markets robotic-assisted systems for minimally invasive procedures. Its products include da Vinci surgical systems, which allow surgeons to control instruments and a high-definition vision system from a console, as well as the Ion endoluminal system, designed to assist with minimally invasive lung biopsies. The company also provides instruments, accessories, training and support services for its systems. Its technology is used in a range of surgical specialties, including urology, general surgery and gynecology.