Cornerstone Advisors LLC Sells 2,853 Shares of Intuitive Surgical, Inc. $ISRG

Cornerstone Advisors LLC lowered its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 5.9% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 45,332 shares of the medical equipment provider’s stock after selling 2,853 shares during the period. Cornerstone Advisors LLC’s holdings in Intuitive Surgical were worth $18,433,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of ISRG. Bank of New York Mellon Corp acquired a new stake in Intuitive Surgical in the second quarter valued at about $1,335,753,000. Arrowstreet Capital Limited Partnership raised its stake in Intuitive Surgical by 95.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,105,544 shares of the medical equipment provider’s stock worth $970,635,000 after acquiring an additional 1,027,475 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Intuitive Surgical by 55.8% during the third quarter. Assenagon Asset Management S.A. now owns 1,557,940 shares of the medical equipment provider’s stock worth $633,505,000 after acquiring an additional 558,099 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Intuitive Surgical during the third quarter worth about $136,743,000. Finally, Amundi lifted its holdings in shares of Intuitive Surgical by 8.6% in the first quarter. Amundi now owns 2,428,356 shares of the medical equipment provider’s stock worth $1,119,448,000 after acquiring an additional 193,096 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ISRG. TD Cowen restated a “buy” rating and issued a $485.00 price target on shares of Intuitive Surgical in a research note on Monday, October 19th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Intuitive Surgical in a research report on Wednesday, August 12th. Leerink Partners set a $503.00 price objective on shares of Intuitive Surgical and gave the stock an “outperform” rating in a research report on Wednesday, October 21st. Robert W. Baird increased their price objective on shares of Intuitive Surgical from $513.00 to $550.00 and gave the company an “outperform” rating in a research note on Wednesday, October 21st. Finally, KeyCorp restated an “overweight” rating on shares of Intuitive Surgical in a research report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Intuitive Surgical has a consensus rating of “Moderate Buy” and a consensus price target of $493.54.

Insider Buying and Selling

In related news, Director Craig H. Barratt sold 1,150 shares of Intuitive Surgical stock in a transaction that occurred on Friday, October 23rd. The shares were sold at an average price of $443.80, for a total transaction of $510,370.00. Following the sale, the director directly owned 1,150 shares in the company, valued at $510,370. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Gary Loeb sold 400 shares of Intuitive Surgical stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $458.15, for a total transaction of $183,260.00. Following the sale, the executive vice president owned 6,236 shares in the company, valued at approximately $2,857,023.40. This represents a 6.03% 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. Insiders have sold a total of 39,456 shares of company stock valued at $17,769,124 over the last three months. Insiders own 0.60% of the company’s stock.

Intuitive Surgical Stock Up 0.8%

Shares of ISRG opened at $443.59 on Friday. Intuitive Surgical, Inc. has a 12-month low of $328.57 and a 12-month high of $603.88. The business has a 50-day simple moving average of $417.59 and a two-hundred day simple moving average of $429.98. The stock has a market cap of $153.77 billion, a PE ratio of 53.64, a PEG ratio of 3.03 and a beta of 1.45.

Intuitive Surgical (NASDAQ:ISRG) last posted its earnings results on Tuesday, October 20th. The medical equipment provider reported $3.00 EPS for the quarter, beating the consensus estimate of $2.65 by $0.35. Intuitive Surgical had a return on equity of 18.17% and a net margin of 25.54%. The firm had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $2.91 billion. During the same period last year, the company earned $2.40 earnings per share. The business’s quarterly revenue was up 21.7% on a year-over-year basis. On average, equities research analysts expect that Intuitive Surgical, Inc. will post 9.37 EPS for the current year.

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.