Grove Bank & Trust Raises Stock Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Grove Bank & Trust lifted its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 85.1% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,270 shares of the medical equipment provider’s stock after buying an additional 584 shares during the quarter. Grove Bank & Trust’s holdings in Intuitive Surgical were worth $629,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Castleark Management LLC lifted its holdings in Intuitive Surgical by 3.4% in the 4th quarter. Castleark Management LLC now owns 90,469 shares of the medical equipment provider’s stock valued at $47,221,000 after purchasing an additional 2,990 shares in the last quarter. FourThought Financial Partners LLC acquired a new stake in Intuitive Surgical in the 4th quarter valued at $1,158,000. Longbow Finance SA purchased a new stake in shares of Intuitive Surgical during the 4th quarter valued at about $4,431,000. Prakash Investment Advisors LLC acquired a new position in shares of Intuitive Surgical during the fourth quarter worth $1,201,000. Finally, Alberta Investment Management Corp acquired a new stake in Intuitive Surgical during the 4th quarter valued at $15,291,000. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ISRG has been the topic of several recent analyst reports. BTIG Research set a $560.00 price target on shares of Intuitive Surgical and gave the company a “buy” rating in a report on Monday, April 14th. Royal Bank Of Canada reduced their price target on shares of Intuitive Surgical from $630.00 to $605.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Robert W. Baird lowered their price objective on Intuitive Surgical from $600.00 to $575.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft cut shares of Intuitive Surgical from a “hold” rating to a “sell” rating and dropped their target price for the stock from $515.00 to $440.00 in a report on Monday, June 9th. Finally, Piper Sandler reduced their price target on shares of Intuitive Surgical from $670.00 to $575.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $588.95.

Intuitive Surgical Price Performance

ISRG opened at $512.11 on Wednesday. Intuitive Surgical, Inc. has a fifty-two week low of $413.82 and a fifty-two week high of $616.00. The company has a market cap of $183.55 billion, a price-to-earnings ratio of 75.09, a price-to-earnings-growth ratio of 5.51 and a beta of 1.67. The firm has a 50 day simple moving average of $527.58 and a 200 day simple moving average of $538.12.

Intuitive Surgical (NASDAQ:ISRG) last issued its earnings results on Tuesday, April 22nd. The medical equipment provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.71 by $0.10. Intuitive Surgical had a net margin of 28.41% and a return on equity of 14.43%. The firm had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the prior year, the firm earned $1.50 earnings per share. As a group, analysts expect that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

Insider Buying and Selling at Intuitive Surgical

In other news, SVP Mark Brosius sold 216 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $563.11, for a total value of $121,631.76. Following the transaction, the senior vice president now directly owns 907 shares of the company’s stock, valued at $510,740.77. This represents a 19.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert Desantis sold 188 shares of the company’s stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $515.91, for a total transaction of $96,991.08. Following the completion of the transaction, the executive vice president now owns 5,224 shares in the company, valued at approximately $2,695,113.84. This trade represents a 3.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,998 shares of company stock worth $2,611,577 over the last ninety days. 0.70% of the stock is currently owned by corporate insiders.

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.