Intuitive Surgical, Inc. $ISRG Shares Acquired by Norway Savings Bank

Key Points

• Norway Savings Bank increased its stake in Intuitive Surgical by 53.4%, holding shares valued at $1,420,000 as of their latest SEC filing.
• Intuitive Surgical's stock has seen significant changes, with insider sales totaling nearly $22 million in the last 90 days, reflecting a 59.69% decline in one insider’s position.
• Despite positive earnings reports, the stock currently has an average rating of "Moderate Buy" with a price target of $595.95, although some analysts have downgraded their ratings recently.

Norway Savings Bank raised its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 53.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,613 shares of the medical equipment provider's stock after acquiring an additional 910 shares during the period. Norway Savings Bank's holdings in Intuitive Surgical were worth $1,420,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ISRG. Chilton Capital Management LLC increased its position in shares of Intuitive Surgical by 614.3% during the first quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock valued at $25,000 after acquiring an additional 43 shares during the last quarter. Global Financial Private Client LLC increased its position in shares of Intuitive Surgical by 253.3% during the first quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider's stock valued at $26,000 after acquiring an additional 38 shares during the last quarter. Elite Financial Inc. acquired a new stake in shares of Intuitive Surgical during the first quarter valued at about $26,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of Intuitive Surgical during the first quarter valued at about $30,000. Finally, TD Capital Management LLC increased its position in shares of Intuitive Surgical by 300.0% during the first quarter. TD Capital Management LLC now owns 60 shares of the medical equipment provider's stock valued at $30,000 after acquiring an additional 45 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Zacks Research cut shares of Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 20th. Erste Group Bank restated a "hold" rating on shares of Intuitive Surgical in a report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Intuitive Surgical in a report on Friday, August 22nd. Citigroup restated a "buy" rating and issued a $650.00 price objective (up previously from $590.00) on shares of Intuitive Surgical in a report on Thursday, May 22nd. Finally, BTIG Research lifted their price objective on shares of Intuitive Surgical from $566.00 to $571.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Thirteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $595.95.

Intuitive Surgical Stock Down 1.4%

NASDAQ ISRG opened at $449.68 on Friday. Intuitive Surgical, Inc. has a 52 week low of $425.00 and a 52 week high of $616.00. The stock has a market capitalization of $161.20 billion, a PE ratio of 62.72, a price-to-earnings-growth ratio of 4.78 and a beta of 1.61. The firm has a 50 day moving average of $485.67 and a two-hundred day moving average of $508.71.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 EPS for the quarter, topping the consensus estimate of $1.93 by $0.26. Intuitive Surgical had a net margin of 28.51% and a return on equity of 14.56%. The company had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.35 billion. During the same quarter in the previous year, the business posted $1.78 EPS. The firm's revenue was up 21.4% on a year-over-year basis. On average, equities research analysts expect that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Gary S. Guthart sold 29,360 shares of the business's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $472.49, for a total transaction of $13,872,306.40. Following the completion of the sale, the insider owned 19,827 shares in the company, valued at approximately $9,368,059.23. The trade was a 59.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Myriam Curet sold 4,500 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at $173,845.44. This represents a 92.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,224 shares of company stock worth $21,716,492 in the last 90 days. Corporate insiders own 0.70% of the company's stock.

Intuitive Surgical Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.