Comerica Bank Reduces Holdings in Intuitive Surgical, Inc. $ISRG

Key Points

• Comerica Bank reduced its holdings in Intuitive Surgical, Inc. by 0.6%, now owning 94,791 shares valued at approximately $46.9 million.
• Several other large investors, including Chilton Capital Management, also adjusted their positions, with some increasing their stakes by over 600%.
• Insider trading activity has seen significant sales, with two executives selling shares valued at over $4 million combined, representing a substantial decrease in their positions.

Comerica Bank trimmed its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 0.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 94,791 shares of the medical equipment provider's stock after selling 599 shares during the quarter. Comerica Bank's holdings in Intuitive Surgical were worth $46,947,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in ISRG. Chilton Capital Management LLC increased its position in shares of Intuitive Surgical by 614.3% during the first quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock worth $25,000 after purchasing an additional 43 shares in the last quarter. Parvin Asset Management LLC purchased a new stake in Intuitive Surgical in the 4th quarter valued at $26,000. Global Financial Private Client LLC grew its holdings in Intuitive Surgical by 253.3% in the 1st quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider's stock valued at $26,000 after buying an additional 38 shares in the last quarter. Elite Financial Inc. purchased a new stake in Intuitive Surgical in the 1st quarter valued at $26,000. Finally, LFA Lugano Financial Advisors SA purchased a new stake in Intuitive Surgical in the 1st quarter valued at $30,000. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Mark Brosius sold 216 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $563.11, for a total transaction of $121,631.76. Following the transaction, the senior vice president owned 907 shares of the company's stock, valued at approximately $510,740.77. This represents a 19.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gary S. Guthart sold 7,893 shares of the stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $498.64, for a total value of $3,935,765.52. Following the transaction, the insider directly owned 13,187 shares in the company, valued at approximately $6,575,565.68. The trade was a 37.44% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,839 shares of company stock valued at $7,896,972. Corporate insiders own 0.70% of the company's stock.

Intuitive Surgical Trading Up 1.3%

NASDAQ ISRG opened at $476.16 on Friday. The stock has a market cap of $170.69 billion, a PE ratio of 66.41, a P/E/G ratio of 4.99 and a beta of 1.59. Intuitive Surgical, Inc. has a twelve month low of $425.00 and a twelve month high of $616.00. The stock has a fifty day simple moving average of $504.42 and a 200-day simple moving average of $521.58.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.93 by $0.26. The business had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.35 billion. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%.The company's revenue was up 21.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.78 EPS. Research analysts predict that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Zacks Research cut Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a report on Wednesday. Piper Sandler restated an "overweight" rating and issued a $595.00 target price (up from $575.00) on shares of Intuitive Surgical in a report on Wednesday, July 23rd. Truist Financial upped their target price on Intuitive Surgical from $590.00 to $600.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Wells Fargo & Company upped their target price on Intuitive Surgical from $559.00 to $599.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Finally, Citigroup restated a "buy" rating and issued a $650.00 target price (up from $590.00) on shares of Intuitive Surgical in a report on Thursday, May 22nd. Thirteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $595.95.

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.

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