Renaissance Investment Group LLC Buys New Position in Intuitive Surgical, Inc. (ISRG)

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Renaissance Investment Group LLC bought a new stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) during the 1st quarter, Holdings Channel reports. The firm bought 3,745 shares of the medical equipment provider’s stock, valued at approximately $2,137,000.

A number of other large investors have also recently made changes to their positions in ISRG. Oregon Public Employees Retirement Fund raised its stake in Intuitive Surgical by 31,963.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 14,679,377 shares of the medical equipment provider’s stock valued at $31,000 after purchasing an additional 14,633,595 shares during the period. Morgan Stanley raised its stake in Intuitive Surgical by 119.5% during the 3rd quarter. Morgan Stanley now owns 2,856,195 shares of the medical equipment provider’s stock valued at $1,639,456,000 after purchasing an additional 1,554,896 shares during the period. Norges Bank acquired a new position in shares of Intuitive Surgical in the fourth quarter worth $524,111,000. BlackRock Inc. increased its stake in shares of Intuitive Surgical by 7.3% in the fourth quarter. BlackRock Inc. now owns 8,327,815 shares of the medical equipment provider’s stock worth $3,988,358,000 after acquiring an additional 569,388 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in shares of Intuitive Surgical by 40.5% in the fourth quarter. Jennison Associates LLC now owns 1,949,684 shares of the medical equipment provider’s stock worth $933,743,000 after acquiring an additional 562,441 shares during the last quarter. 84.91% of the stock is currently owned by institutional investors.

NASDAQ:ISRG traded up $3.06 during trading hours on Friday, reaching $528.06. The company’s stock had a trading volume of 2,395,192 shares, compared to its average volume of 711,167. The stock has a market capitalization of $60.92 billion, a PE ratio of 55.64, a P/E/G ratio of 4.53 and a beta of 1.10. Intuitive Surgical, Inc. has a one year low of $429.04 and a one year high of $589.32.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings data on Thursday, April 18th. The medical equipment provider reported $2.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.70 by ($0.09). The business had revenue of $974.00 million during the quarter, compared to the consensus estimate of $975.27 million. Intuitive Surgical had a return on equity of 18.11% and a net margin of 30.29%. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.44 earnings per share. On average, equities analysts anticipate that Intuitive Surgical, Inc. will post 9.9 earnings per share for the current year.

In other Intuitive Surgical news, Director Lonnie M. Smith sold 210 shares of the company’s stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $546.56, for a total transaction of $114,777.60. Following the completion of the sale, the director now directly owns 359,246 shares in the company, valued at $196,349,493.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Salvatore Brogna sold 2,090 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $551.79, for a total transaction of $1,153,241.10. The disclosure for this sale can be found here. Insiders sold 42,284 shares of company stock valued at $22,205,382 over the last quarter. 1.70% of the stock is currently owned by corporate insiders.

A number of research firms have recently weighed in on ISRG. Zacks Investment Research raised shares of Intuitive Surgical from a “sell” rating to a “hold” rating in a research note on Wednesday. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $610.00 price target on shares of Intuitive Surgical in a research note on Thursday. Northland Securities reaffirmed a “sell” rating and issued a $375.00 price target on shares of Intuitive Surgical in a research note on Thursday, January 10th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $620.00 price target on shares of Intuitive Surgical in a research note on Friday, January 25th. Finally, BidaskClub downgraded shares of Intuitive Surgical from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company. Intuitive Surgical currently has a consensus rating of “Buy” and an average price target of $579.18.

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Intuitive Surgical 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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