Fifth Third Bancorp Increases Stake in Intuitive Surgical, Inc. $ISRG

Key Points

• Fifth Third Bancorp has increased its stake in Intuitive Surgical, Inc. by 3.7%, owning approximately 232,533 shares valued at $126.36 million as of its latest SEC filing.
• Insider transactions reveal significant sales, with CEO Gary S. Guthart selling 29,360 shares, resulting in a 59.69% decrease in his position, alongside other executives also reducing their holdings.
• Intuitive Surgical reported strong quarterly earnings, with earnings per share of $2.19, surpassing expectations, and revenue rose 21.4% year-over-year, reaching $2.44 billion.

Fifth Third Bancorp lifted its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 3.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 232,533 shares of the medical equipment provider's stock after purchasing an additional 8,393 shares during the quarter. Fifth Third Bancorp owned about 0.06% of Intuitive Surgical worth $126,361,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Chilton Capital Management LLC raised its position in shares of Intuitive Surgical by 614.3% in the 1st quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock valued at $25,000 after purchasing an additional 43 shares during the last quarter. Global Financial Private Client LLC increased 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 worth $26,000 after buying an additional 38 shares during the period. Elite Financial Inc. acquired a new position in Intuitive Surgical in the 1st quarter worth approximately $26,000. LFA Lugano Financial Advisors SA acquired a new position in Intuitive Surgical in the 1st quarter worth approximately $30,000. Finally, TD Capital Management LLC increased its holdings in Intuitive Surgical by 300.0% in the 1st quarter. TD Capital Management LLC now owns 60 shares of the medical equipment provider's stock worth $30,000 after buying an additional 45 shares during the period. 83.64% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Intuitive Surgical

In other news, insider Gary S. Guthart sold 29,360 shares of Intuitive Surgical stock in a transaction on Friday, August 29th. The stock was sold at an average price of $472.49, for a total transaction of $13,872,306.40. Following the transaction, the insider owned 19,827 shares in the company, valued at $9,368,059.23. The trade was a 59.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Myriam Curet sold 4,500 shares of Intuitive Surgical stock in a transaction on Friday, July 25th. The stock was sold at an average price of $492.48, for a total value of $2,216,160.00. Following the transaction, the executive vice president owned 353 shares in the company, valued at approximately $173,845.44. This represents a 92.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,224 shares of company stock worth $21,716,492 in the last quarter. Company insiders own 0.70% of the company's stock.

Intuitive Surgical Stock Performance

Shares of ISRG stock opened at $447.75 on Wednesday. The stock's fifty day moving average is $473.91 and its two-hundred day moving average is $502.53. The firm has a market capitalization of $160.51 billion, a P/E ratio of 62.45, a PEG ratio of 4.66 and a beta of 1.61. Intuitive Surgical, Inc. has a fifty-two week low of $425.00 and a fifty-two week high of $616.00.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.35 billion. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%.The firm's revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.78 EPS. On average, equities analysts forecast that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current year.

Analyst Ratings Changes

ISRG has been the topic of several research reports. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Intuitive Surgical in a report on Friday, August 22nd. Royal Bank Of Canada reiterated an "outperform" rating and issued a $615.00 price target on shares of Intuitive Surgical in a report on Tuesday, August 19th. Wells Fargo & Company increased their price target on shares of Intuitive Surgical from $559.00 to $599.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Evercore ISI increased their price target on shares of Intuitive Surgical from $470.00 to $550.00 and gave the stock an "in-line" rating in a report on Tuesday, July 8th. Finally, BTIG Research increased their price target on shares of Intuitive Surgical from $566.00 to $571.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. 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 stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $595.95.

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.

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