Cullen Frost Bankers Inc. Acquires 1,387 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Cullen Frost Bankers Inc. lifted its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 1.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,382 shares of the medical equipment provider's stock after acquiring an additional 1,387 shares during the quarter. Cullen Frost Bankers Inc.'s holdings in Intuitive Surgical were worth $38,325,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of ISRG. Brighton Jones LLC lifted its stake in shares of Intuitive Surgical by 24.9% during the 4th quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider's stock worth $1,916,000 after purchasing an additional 731 shares during the period. Bank Pictet & Cie Europe AG increased its position in Intuitive Surgical by 0.5% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 190,969 shares of the medical equipment provider's stock worth $99,678,000 after purchasing an additional 883 shares in the last quarter. Proficio Capital Partners LLC raised its stake in shares of Intuitive Surgical by 70.9% in the 4th quarter. Proficio Capital Partners LLC now owns 1,820 shares of the medical equipment provider's stock valued at $950,000 after acquiring an additional 755 shares during the period. Harbour Investments Inc. raised its position in Intuitive Surgical by 2.1% in the fourth quarter. Harbour Investments Inc. now owns 1,544 shares of the medical equipment provider's stock valued at $806,000 after purchasing an additional 32 shares during the period. Finally, GWN Securities Inc. purchased a new position in Intuitive Surgical in the 4th quarter worth approximately $281,000. Institutional investors and hedge funds own 83.64% of the company's stock.

Analyst Ratings Changes

ISRG has been the subject of a number of analyst reports. Royal Bank Of Canada decreased their price objective on shares of Intuitive Surgical from $630.00 to $605.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Citigroup reissued a "buy" rating and issued a $650.00 target price (up previously from $590.00) on shares of Intuitive Surgical in a research report on Thursday, May 22nd. Barclays cut their price objective on Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Piper Sandler decreased their price objective 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. Finally, Erste Group Bank upgraded shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a research note on Thursday, June 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $592.86.

Insider Activity

In other news, Director Jami K. Nachtsheim sold 2,400 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $520.00, for a total value of $1,248,000.00. Following the sale, the director owned 6,371 shares in the company, valued at approximately $3,312,920. This trade represents a 27.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Mark Brosius sold 216 shares of the company's stock in a transaction on Friday, June 6th. The shares were 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. The trade was a 19.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,998 shares of company stock valued at $2,611,577 over the last three months. 0.70% of the stock is currently owned by insiders.

Intuitive Surgical Trading Up 0.4%

ISRG stock traded up $1.82 during trading hours on Friday, hitting $517.98. 759,480 shares of the stock traded hands, compared to its average volume of 1,680,892. The stock has a 50-day simple moving average of $536.26 and a 200 day simple moving average of $536.13. The company has a market cap of $185.65 billion, a P/E ratio of 75.98, a P/E/G ratio of 5.44 and a beta of 1.64. Intuitive Surgical, Inc. has a one year low of $413.82 and a one year high of $616.00.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The medical equipment provider reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.71 by $0.10. The business had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.19 billion. Intuitive Surgical had a return on equity of 14.43% and a net margin of 28.41%. During the same quarter last year, the company posted $1.50 EPS. Analysts forecast that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Intuitive Surgical Profile

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.