Cypress Capital Group Acquires Shares of 1,443 Intuitive Surgical, Inc. $ISRG

Key Points

• Cypress Capital Group acquired 1,443 shares of Intuitive Surgical, Inc. valued at approximately $784,000 during the 2nd quarter, as indicated in their Form 13F filing with the SEC.
• Several institutional investors, including Vanguard Group and Invesco, have increased their holdings in Intuitive Surgical, which now has 83.64% of its shares owned by institutional investors.
• Intuitive Surgical reported a quarterly earnings per share of $2.19, exceeding analysts' expectations and showing a 21.4% year-over-year revenue growth to $2.44 billion.

Cypress Capital Group acquired a new stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,443 shares of the medical equipment provider's stock, valued at approximately $784,000.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Intuitive Surgical by 1.4% during the first quarter. Vanguard Group Inc. now owns 32,665,531 shares of the medical equipment provider's stock worth $16,178,258,000 after acquiring an additional 453,335 shares in the last quarter. Invesco Ltd. lifted its position in shares of Intuitive Surgical by 1.7% during the first quarter. Invesco Ltd. now owns 4,219,974 shares of the medical equipment provider's stock worth $2,090,027,000 after acquiring an additional 71,794 shares in the last quarter. Northern Trust Corp lifted its position in shares of Intuitive Surgical by 0.3% during the first quarter. Northern Trust Corp now owns 3,631,281 shares of the medical equipment provider's stock worth $1,798,465,000 after acquiring an additional 11,988 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Intuitive Surgical by 15.0% during the first quarter. Wellington Management Group LLP now owns 3,499,052 shares of the medical equipment provider's stock worth $1,732,975,000 after acquiring an additional 457,080 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Intuitive Surgical during the first quarter worth $1,715,899,000. Hedge funds and other institutional investors own 83.64% of the company's stock.

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, EVP Myriam Curet sold 4,500 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $492.48, for a total transaction of $2,216,160.00. Following the sale, the executive vice president owned 353 shares in the company, valued at $173,845.44. This trade represents a 92.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Amy L. Ladd sold 335 shares of the firm's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $440.69, for a total value of $147,631.15. Following the sale, the director owned 739 shares in the company, valued at $325,669.91. The trade was a 31.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,224 shares of company stock worth $21,716,492 over the last 90 days. Corporate insiders own 0.70% of the company's stock.

Intuitive Surgical Stock Performance

Shares of ISRG stock opened at $429.59 on Monday. The business's fifty day moving average is $458.68 and its 200 day moving average is $497.84. Intuitive Surgical, Inc. has a 52-week low of $425.00 and a 52-week high of $616.00. The company has a market capitalization of $154.00 billion, a PE ratio of 59.91, a price-to-earnings-growth ratio of 4.51 and a beta of 1.61.

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, beating analysts' consensus estimates of $1.93 by $0.26. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%.The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the business posted $1.78 earnings per share. The company's revenue for the quarter was up 21.4% on a year-over-year basis. On average, sell-side analysts forecast that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. UBS Group increased their target price on Intuitive Surgical from $547.00 to $585.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Truist Financial increased their target price on Intuitive Surgical from $590.00 to $600.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Weiss Ratings reiterated a "hold (c+)" rating on shares of Intuitive Surgical in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Intuitive Surgical in a research report on Friday, August 22nd. Finally, Erste Group Bank reiterated a "hold" rating on shares of Intuitive Surgical in a research report on Wednesday, July 23rd. Fourteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $589.43.

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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