M&T Bank Corp Buys 116,768 Shares of Intuitive Surgical, Inc. $ISRG

M&T Bank Corp raised its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 200.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 175,150 shares of the medical equipment provider’s stock after acquiring an additional 116,768 shares during the quarter. M&T Bank Corp’s holdings in Intuitive Surgical were worth $99,198,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Draper Asset Management LLC lifted its position in shares of Intuitive Surgical by 41.9% during the fourth quarter. Draper Asset Management LLC now owns 5,029 shares of the medical equipment provider’s stock worth $2,848,000 after purchasing an additional 1,485 shares in the last quarter. SteelPeak Wealth LLC lifted its position in shares of Intuitive Surgical by 28.7% during the third quarter. SteelPeak Wealth LLC now owns 41,993 shares of the medical equipment provider’s stock worth $18,781,000 after purchasing an additional 9,364 shares in the last quarter. Atlantic Union Bankshares Corp lifted its position in shares of Intuitive Surgical by 19.3% during the third quarter. Atlantic Union Bankshares Corp now owns 22,759 shares of the medical equipment provider’s stock worth $10,179,000 after purchasing an additional 3,676 shares in the last quarter. World Investment Advisors lifted its holdings in Intuitive Surgical by 238.3% in the third quarter. World Investment Advisors now owns 5,399 shares of the medical equipment provider’s stock valued at $2,415,000 after buying an additional 3,803 shares during the period. Finally, E. Ohman J or Asset Management AB lifted its holdings in Intuitive Surgical by 4.1% in the third quarter. E. Ohman J or Asset Management AB now owns 28,306 shares of the medical equipment provider’s stock valued at $12,659,000 after buying an additional 1,123 shares during the period. Institutional investors own 83.64% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ISRG shares. Mizuho set a $525.00 price objective on shares of Intuitive Surgical and gave the company a “neutral” rating in a report on Monday, April 13th. Truist Financial cut their target price on shares of Intuitive Surgical from $650.00 to $580.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. Evercore cut their target price on shares of Intuitive Surgical from $550.00 to $480.00 and set a “neutral” rating on the stock in a report on Monday, April 6th. Citigroup raised shares of Intuitive Surgical from a “neutral” rating to a “buy” rating and set a $590.00 price objective for the company in a research report on Wednesday, March 11th. Finally, Argus lowered their price objective on shares of Intuitive Surgical from $630.00 to $560.00 and set a “buy” rating for the company in a research report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $598.36.

Intuitive Surgical Price Performance

Shares of ISRG stock opened at $451.29 on Wednesday. The stock has a market cap of $160.27 billion, a P/E ratio of 57.20, a P/E/G ratio of 3.64 and a beta of 1.68. The company has a fifty day moving average price of $477.79 and a two-hundred day moving average price of $515.63. Intuitive Surgical, Inc. has a one year low of $427.84 and a one year high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.42. The firm had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.62 billion. Intuitive Surgical had a net margin of 28.38% and a return on equity of 15.06%. The company’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.81 earnings per share. As a group, equities research analysts anticipate that Intuitive Surgical, Inc. will post 8.16 EPS for the current fiscal year.

Trending Headlines about Intuitive Surgical

Here are the key news stories impacting Intuitive Surgical this week:

• Positive Sentiment: Double beat on revenue and EPS; robust procedure growth (worldwide procedures ~17%, da Vinci +16%, Ion +39%) supports durable demand for systems and consumables. Reuters: Intuitive Surgical beats quarterly expectations
• Positive Sentiment: Company reiterated growth initiatives — digital innovation and broader availability of Force Feedback — which could expand procedure mix and drive longer-term consumable and software revenue. Yahoo: Q1 highlights & digital progress
• Neutral Sentiment: Analyst views remain mostly constructive (average “Moderate Buy” / several firms maintain Buy ratings) but some price targets have been trimmed ahead of Q1. These mixed analyst moves temper near-term upside. American Banking News: Broker ratings
• Negative Sentiment: Shares slipped after hours despite the beat — investors noted the full-year guidance raise was smaller than the quarterly beat implied, suggesting management expects some slowdown or is being conservative. Yahoo: Why Intuitive dropped despite beat
• Negative Sentiment: Ongoing weakness in some international markets and the fact that a handful of firms trimmed price targets before results increase execution risk for near-term revenue cadence. Yahoo: Notes on international challenges

Insider Activity at Intuitive Surgical

In other Intuitive Surgical news, SVP Mark Brosius sold 645 shares of Intuitive Surgical stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $485.01, for a total value of $312,831.45. Following the completion of the sale, the senior vice president owned 1,613 shares in the company, valued at $782,321.13. The trade was a 28.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Patricia L. Wadors sold 220 shares of the firm’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $499.71, for a total transaction of $109,936.20. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 32,943 shares of company stock worth $17,279,568. 0.60% of the stock is owned by corporate insiders.

About Intuitive Surgical

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon’s hand movements into finer, scaled motions of small instruments inside the patient. Intuitive’s business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.