Intuitive Surgical, Inc. (NASDAQ:ISRG) Stake Increased by Fifth Third Bancorp

Fifth Third Bancorp lifted its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 12.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 224,140 shares of the medical equipment provider's stock after acquiring an additional 24,208 shares during the period. Fifth Third Bancorp owned 0.06% of Intuitive Surgical worth $111,010,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Castleark Management LLC raised its position 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 during the last quarter. Truist Financial Corp grew its holdings in shares of Intuitive Surgical by 3.0% during the fourth quarter. Truist Financial Corp now owns 248,092 shares of the medical equipment provider's stock worth $129,494,000 after buying an additional 7,298 shares during the last quarter. FourThought Financial Partners LLC acquired a new position in Intuitive Surgical in the 4th quarter valued at about $1,158,000. Longbow Finance SA purchased a new stake in Intuitive Surgical during the 4th quarter valued at approximately $4,431,000. Finally, Blue Trust Inc. lifted its position in Intuitive Surgical by 19.7% during the 4th quarter. Blue Trust Inc. now owns 4,467 shares of the medical equipment provider's stock worth $2,332,000 after acquiring an additional 734 shares during the period. Hedge funds and other institutional investors own 83.64% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Erste Group Bank upgraded shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a research note on Thursday, June 5th. Evercore ISI dropped their target price on Intuitive Surgical from $510.00 to $470.00 and set an "in-line" rating on the stock in a research report on Wednesday, April 23rd. Royal Bank of Canada cut their price objective on Intuitive Surgical from $630.00 to $605.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Truist Financial decreased their target price on shares of Intuitive Surgical from $605.00 to $590.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Finally, Piper Sandler cut 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 equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Intuitive Surgical currently has an average rating of "Moderate Buy" and a consensus price target of $588.95.

Intuitive Surgical Trading Down 0.3%

Shares of NASDAQ ISRG traded down $1.33 on Friday, reaching $511.67. 1,385,568 shares of the company traded hands, compared to its average volume of 1,667,991. 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 50 day moving average of $525.48 and a 200 day moving average of $538.67. The stock has a market capitalization of $183.39 billion, a PE ratio of 79.94, a P/E/G ratio of 5.85 and a beta of 1.67.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The medical equipment provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.10. The company had revenue of $2.25 billion during the quarter, compared to analysts' expectations of $2.19 billion. Intuitive Surgical had a net margin of 27.81% and a return on equity of 14.55%. During the same period in the previous year, the company earned $1.50 EPS. As a group, research analysts expect that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Mark Brosius sold 216 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $563.11, for a total value of $121,631.76. Following the completion of the sale, the senior vice president now directly owns 907 shares in the company, valued at approximately $510,740.77. This represents a 19.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jami K. Nachtsheim sold 2,400 shares of the stock in a transaction dated 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 completion of the sale, the director now owns 6,371 shares of the company's stock, valued at approximately $3,312,920. This trade represents a 27.36% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,998 shares of company stock valued at $2,611,577. 0.70% of the stock is currently owned by corporate insiders.

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.