Intuitive Surgical, Inc. $ISRG Shares Bought by Cullen Frost Bankers Inc.

Key Points

• Cullen Frost Bankers Inc. increased its holdings in Intuitive Surgical by 1.6%, owning 78,606 shares valued at approximately $42.7 million as of the latest SEC filing.
• Insider selling has been noted, with Director Amy L. Ladd selling 336 shares and EVP Myriam Curet selling 4,500 shares, indicating significant decreases in their ownership percentages.
• Recent analyst ratings show a mixed outlook, with Wells Fargo raising its price target to $599, while Zacks downgraded their rating to "hold," reflecting diverse opinions on the company's future performance.

Cullen Frost Bankers Inc. boosted its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 1.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,606 shares of the medical equipment provider's stock after buying an additional 1,224 shares during the period. Cullen Frost Bankers Inc.'s holdings in Intuitive Surgical were worth $42,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in ISRG. Nuveen LLC purchased a new stake in Intuitive Surgical during the 1st quarter valued at about $1,715,899,000. Goldman Sachs Group Inc. grew its stake in Intuitive Surgical by 26.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,819,666 shares of the medical equipment provider's stock valued at $1,396,496,000 after purchasing an additional 584,375 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Intuitive Surgical by 20.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,393,951 shares of the medical equipment provider's stock valued at $1,680,922,000 after purchasing an additional 566,979 shares during the last quarter. Wellington Management Group LLP grew its stake in Intuitive Surgical by 15.0% during the 1st quarter. Wellington Management Group LLP now owns 3,499,052 shares of the medical equipment provider's stock valued at $1,732,975,000 after purchasing an additional 457,080 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Intuitive Surgical by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 32,665,531 shares of the medical equipment provider's stock valued at $16,178,258,000 after purchasing an additional 453,335 shares during the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Intuitive Surgical news, Director Amy L. Ladd sold 336 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $470.11, for a total transaction of $157,956.96. Following the transaction, the director owned 1,074 shares in the company, valued at approximately $504,898.14. This represents a 23.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Myriam Curet sold 4,500 shares of the stock in a transaction that occurred 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 $173,845.44. This represents a 92.73% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,224 shares of company stock worth $21,716,492. 0.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on ISRG. Wells Fargo & Company boosted their price target on Intuitive Surgical from $559.00 to $599.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Zacks Research downgraded Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 20th. BTIG Research dropped their price target on Intuitive Surgical from $571.00 to $529.00 and set a "buy" rating on the stock in a research note on Monday, October 13th. Sanford C. Bernstein restated an "outperform" rating and issued a $685.00 target price on shares of Intuitive Surgical in a research note on Tuesday. Finally, Truist Financial reduced their price target on Intuitive Surgical from $600.00 to $525.00 and set a "buy" rating for the company in a research report on Wednesday, October 15th. Fifteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $585.05.

Intuitive Surgical Trading Up 0.9%

Shares of ISRG stock opened at $462.74 on Wednesday. The company has a market capitalization of $165.88 billion, a P/E ratio of 64.54, a P/E/G ratio of 4.81 and a beta of 1.61. The business's 50 day moving average is $454.39 and its two-hundred day moving average is $495.58. Intuitive Surgical, Inc. has a 12-month low of $425.00 and a 12-month high of $616.00.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued its quarterly earnings results on Tuesday, October 21st. The medical equipment provider reported $2.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.99 by $0.41. The company had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.41 billion. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%.Intuitive Surgical's revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.84 earnings per share. On average, research analysts predict that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

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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