First Citizens Bank & Trust Co. Grows Position in Intuitive Surgical, Inc. $ISRG

Key Points

• First Citizens Bank & Trust Co. increased its holdings in Intuitive Surgical, Inc. by 34.3% in the 2nd quarter, now owning 20,476 shares valued at approximately $11.1 million.
• Insider trading activity saw significant sales, with EVP Myriam Curet and Gary S. Guthart selling a combined total of over 33,000 shares, indicating a decrease in their holdings.
• Intuitive Surgical's stock operates with a market cap of $188.71 billion and reported earnings of $2.40 per share, outperforming analysts' expectations for the recent quarter.

First Citizens Bank & Trust Co. lifted its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 34.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,476 shares of the medical equipment provider's stock after purchasing an additional 5,227 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in Intuitive Surgical were worth $11,127,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the business. Bleakley Financial Group LLC grew its stake in Intuitive Surgical by 21.0% during the 2nd quarter. Bleakley Financial Group LLC now owns 14,699 shares of the medical equipment provider's stock worth $7,988,000 after purchasing an additional 2,553 shares in the last quarter. Prosperity Financial Group Inc. raised its holdings in Intuitive Surgical by 3.3% in the second quarter. Prosperity Financial Group Inc. now owns 1,244 shares of the medical equipment provider's stock valued at $676,000 after acquiring an additional 40 shares in the last quarter. LifeWealth Investments LLC boosted its stake in Intuitive Surgical by 16.1% during the 2nd quarter. LifeWealth Investments LLC now owns 482 shares of the medical equipment provider's stock worth $262,000 after purchasing an additional 67 shares during the period. Forum Financial Management LP raised its holdings in shares of Intuitive Surgical by 6.1% in the second quarter. Forum Financial Management LP now owns 2,129 shares of the medical equipment provider's stock valued at $1,157,000 after buying an additional 123 shares during the last quarter. Finally, ARK Investment Management LLC grew its holdings in shares of Intuitive Surgical by 2.6% during the second quarter. ARK Investment Management LLC now owns 20,342 shares of the medical equipment provider's stock worth $11,054,000 after buying an additional 507 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Intuitive Surgical

In other Intuitive Surgical news, EVP Myriam Curet sold 4,500 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $492.48, for a total transaction of $2,216,160.00. Following the transaction, the executive vice president directly owned 353 shares in the company, valued at $173,845.44. This represents a 92.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Gary S. Guthart sold 29,360 shares of the firm's 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 directly owned 19,827 shares of the company's stock, valued at approximately $9,368,059.23. This represents a 59.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,224 shares of company stock valued at $21,716,492 over the last ninety days. Corporate insiders own 0.70% of the company's stock.

Intuitive Surgical Stock Performance

Intuitive Surgical stock opened at $526.43 on Thursday. The firm has a market capitalization of $188.71 billion, a PE ratio of 69.63, a price-to-earnings-growth ratio of 4.86 and a beta of 1.61. Intuitive Surgical, Inc. has a one year low of $425.00 and a one year high of $616.00. The stock's 50 day moving average price is $455.28 and its 200 day moving average price is $495.80.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its quarterly earnings results on Tuesday, October 21st. The medical equipment provider reported $2.40 earnings per share for the quarter, beating analysts' consensus estimates of $1.99 by $0.41. The business had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.41 billion. Intuitive Surgical had a net margin of 28.58% and a return on equity of 15.03%. The business's revenue was up 22.9% on a year-over-year basis. During the same period last year, the business earned $1.84 EPS. On average, analysts forecast that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Weiss Ratings reiterated a "hold (c+)" rating on shares of Intuitive Surgical in a research note on Wednesday, October 8th. Evercore ISI dropped their price objective on Intuitive Surgical from $535.00 to $450.00 and set an "in-line" rating for the company in a research note on Tuesday, October 7th. Robert W. Baird set a $655.00 target price on Intuitive Surgical in a research report on Wednesday. Zacks Research lowered shares of Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 20th. Finally, Sanford C. Bernstein restated an "outperform" rating and set a $685.00 target price on shares of Intuitive Surgical in a research report on Tuesday. Eighteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Intuitive Surgical presently has an average rating of "Moderate Buy" and an average target price of $604.50.

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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