Cullen Frost Bankers Inc. lifted its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG – Free Report) by 2.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 83,822 shares of the medical equipment provider’s stock after purchasing an additional 1,766 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Intuitive Surgical were worth $47,473,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the company. Riversedge Advisors LLC increased its position in shares of Intuitive Surgical by 1.9% during the fourth quarter. Riversedge Advisors LLC now owns 901 shares of the medical equipment provider’s stock worth $510,000 after buying an additional 17 shares during the period. Fiduciary Financial Group LLC increased its position in shares of Intuitive Surgical by 2.1% during the fourth quarter. Fiduciary Financial Group LLC now owns 920 shares of the medical equipment provider’s stock worth $521,000 after buying an additional 19 shares during the period. Prosperity Consulting Group LLC increased its position in shares of Intuitive Surgical by 0.5% during the third quarter. Prosperity Consulting Group LLC now owns 4,033 shares of the medical equipment provider’s stock worth $1,804,000 after buying an additional 19 shares during the period. Rossmore Private Capital increased its position in shares of Intuitive Surgical by 2.0% during the third quarter. Rossmore Private Capital now owns 998 shares of the medical equipment provider’s stock worth $446,000 after buying an additional 20 shares during the period. Finally, Activest Wealth Management increased its position in shares of Intuitive Surgical by 21.7% during the third quarter. Activest Wealth Management now owns 112 shares of the medical equipment provider’s stock worth $50,000 after buying an additional 20 shares during the period. 83.64% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
ISRG has been the subject of several recent analyst reports. TD Cowen decreased their price objective on shares of Intuitive Surgical from $660.00 to $585.00 and set a “buy” rating for the company in a research report on Wednesday, April 22nd. Citigroup upgraded shares of Intuitive Surgical from a “neutral” rating to a “buy” rating and set a $590.00 price target for the company in a report on Wednesday, March 11th. UBS Group reduced their price target on shares of Intuitive Surgical from $570.00 to $550.00 and set a “neutral” rating for the company in a report on Tuesday, March 17th. Evercore reduced their price target on shares of Intuitive Surgical from $550.00 to $480.00 and set a “neutral” rating for the company in a report on Monday, April 6th. Finally, Leerink Partners reduced their price target on shares of Intuitive Surgical from $622.00 to $573.00 and set an “outperform” rating for the company in a report on Wednesday, April 22nd. Nineteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $579.33.
Insider Activity
In other news, SVP Patricia L. Wadors sold 220 shares of Intuitive Surgical 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Gary Loeb sold 400 shares of Intuitive Surgical stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $446.95, for a total transaction of $178,780.00. Following the transaction, the executive vice president owned 6,120 shares of the company’s stock, valued at $2,735,334. This represents a 6.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 5,647 shares of company stock valued at $2,760,359. 0.60% of the stock is currently owned by insiders.
Intuitive Surgical Trading Up 0.4%
NASDAQ ISRG opened at $441.58 on Wednesday. The company has a fifty day simple moving average of $461.52 and a 200 day simple moving average of $512.36. Intuitive Surgical, Inc. has a 12-month low of $417.74 and a 12-month high of $603.88. The company has a market cap of $156.39 billion, a P/E ratio of 53.52, a PEG ratio of 3.51 and a beta of 1.51.
Intuitive Surgical (NASDAQ:ISRG – Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (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 28.15% and a return on equity of 15.98%. The business’s revenue was up 23.0% on a year-over-year basis. During the same period last year, the company earned $1.81 earnings per share. Sell-side analysts predict that Intuitive Surgical, Inc. will post 8.57 EPS for the current year.
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.
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