Citizens Financial Group Inc. RI Boosts Stake in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Citizens Financial Group Inc. RI raised its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 223.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,714 shares of the medical equipment provider’s stock after purchasing an additional 4,639 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Intuitive Surgical were worth $2,987,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. One Capital Management LLC purchased a new position in Intuitive Surgical in the second quarter valued at approximately $790,000. Sierra Summit Advisors LLC raised its stake in shares of Intuitive Surgical by 0.8% in the 2nd quarter. Sierra Summit Advisors LLC now owns 27,189 shares of the medical equipment provider’s stock valued at $12,095,000 after acquiring an additional 204 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Intuitive Surgical by 10.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 572,934 shares of the medical equipment provider’s stock valued at $254,872,000 after acquiring an additional 52,976 shares in the last quarter. Waycross Partners LLC boosted its position in Intuitive Surgical by 11.2% during the 2nd quarter. Waycross Partners LLC now owns 52,710 shares of the medical equipment provider’s stock worth $23,448,000 after purchasing an additional 5,313 shares during the period. Finally, Angeles Investment Advisors LLC purchased a new stake in Intuitive Surgical during the 2nd quarter worth $221,000. 83.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on ISRG. Barclays raised their price objective on Intuitive Surgical from $430.00 to $490.00 and gave the company an “overweight” rating in a research report on Thursday, July 18th. The Goldman Sachs Group assumed coverage on Intuitive Surgical in a report on Thursday, May 30th. They set a “buy” rating and a $500.00 target price on the stock. BTIG Research upped their price target on Intuitive Surgical from $469.00 to $494.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Evercore ISI dropped their price objective on shares of Intuitive Surgical from $425.00 to $410.00 and set an “in-line” rating on the stock in a research note on Friday, July 19th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Intuitive Surgical from $475.00 to $495.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, Intuitive Surgical presently has an average rating of “Moderate Buy” and a consensus price target of $446.45.

Insider Activity

In related news, Director Amal M. Johnson sold 2,943 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $443.30, for a total transaction of $1,304,631.90. Following the transaction, the director now directly owns 12,275 shares in the company, valued at $5,441,507.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Henry L. Charlton sold 40,243 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $486.84, for a total transaction of $19,591,902.12. Following the completion of the sale, the senior vice president now owns 3,001 shares of the company’s stock, valued at approximately $1,461,006.84. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Amal M. Johnson sold 2,943 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $443.30, for a total transaction of $1,304,631.90. Following the sale, the director now owns 12,275 shares in the company, valued at approximately $5,441,507.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 53,120 shares of company stock worth $25,528,753. 0.90% of the stock is currently owned by insiders.

Intuitive Surgical Stock Performance

ISRG opened at $491.39 on Tuesday. The company has a market capitalization of $174.30 billion, a P/E ratio of 88.70, a PEG ratio of 5.41 and a beta of 1.39. The company has a 50-day moving average of $464.67 and a 200-day moving average of $422.79. Intuitive Surgical, Inc. has a 1-year low of $254.85 and a 1-year high of $496.18.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings data on Thursday, July 18th. The medical equipment provider reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.24. Intuitive Surgical had a return on equity of 13.04% and a net margin of 27.65%. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same period in the previous year, the company earned $1.18 earnings per share. Intuitive Surgical’s quarterly revenue was up 14.5% on a year-over-year basis. As a group, sell-side analysts expect that Intuitive Surgical, Inc. will post 5.22 earnings per share for the current fiscal year.

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.