Intuitive Surgical, Inc. $ISRG Shares Purchased by Synovus Financial Corp

Key Points

• Synovus Financial Corp increased its stake in Intuitive Surgical, Inc. by 36.9% in the first quarter, owning 3,492 shares valued at approximately $1,729,000.
• Insider selling includes a transaction by SVP Mark Brosius, who sold 216 shares for over $121,000, indicating a 19.23% decrease in his holdings.
• Intuitive Surgical reported a 21.4% year-over-year revenue increase, with earnings per share of $2.19, surpassing analysts' expectations of $1.93.

Synovus Financial Corp increased its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 36.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,492 shares of the medical equipment provider's stock after purchasing an additional 941 shares during the quarter. Synovus Financial Corp's holdings in Intuitive Surgical were worth $1,729,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in shares of Intuitive Surgical by 24.9% in the fourth quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider's stock worth $1,916,000 after acquiring an additional 731 shares during the last quarter. Bank Pictet & Cie Europe AG raised its holdings in shares of Intuitive Surgical by 0.5% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 190,969 shares of the medical equipment provider's stock worth $99,678,000 after acquiring an additional 883 shares during the last quarter. Capital Analysts LLC raised its holdings in shares of Intuitive Surgical by 8.9% in the fourth quarter. Capital Analysts LLC now owns 381 shares of the medical equipment provider's stock worth $199,000 after acquiring an additional 31 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Intuitive Surgical by 14.9% in the fourth quarter. AQR Capital Management LLC now owns 33,592 shares of the medical equipment provider's stock worth $17,534,000 after acquiring an additional 4,365 shares during the last quarter. Finally, Voleon Capital Management LP acquired a new position in shares of Intuitive Surgical in the fourth quarter worth $5,368,000. 83.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, SVP Mark Brosius sold 216 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $563.11, for a total transaction of $121,631.76. Following the completion of the sale, the senior vice president owned 907 shares of the company's stock, valued at approximately $510,740.77. The trade was a 19.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gary S. Guthart sold 2,800 shares of the business's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $495.24, for a total value of $1,386,672.00. Following the sale, the insider directly owned 18,520 shares of the company's stock, valued at approximately $9,171,844.80. This trade represents a 13.13% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,839 shares of company stock valued at $7,896,972. Company insiders own 0.70% of the company's stock.

Intuitive Surgical Trading Up 1.2%

Intuitive Surgical stock opened at $474.26 on Wednesday. The stock has a fifty day moving average price of $502.65 and a 200 day moving average price of $520.00. Intuitive Surgical, Inc. has a 52 week low of $425.00 and a 52 week high of $616.00. The firm has a market capitalization of $170.01 billion, a P/E ratio of 66.15, a PEG ratio of 4.91 and a beta of 1.59.

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

Wall Street Analysts Forecast Growth

ISRG has been the subject of a number of analyst reports. Evercore ISI boosted their price target on Intuitive Surgical from $470.00 to $550.00 and gave the stock an "in-line" rating in a report on Tuesday, July 8th. UBS Group boosted their price target on Intuitive Surgical from $547.00 to $585.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Erste Group Bank reissued a "hold" rating on shares of Intuitive Surgical in a report on Wednesday, July 23rd. Royal Bank Of Canada reiterated an "outperform" rating and issued a $615.00 target price on shares of Intuitive Surgical in a research note on Tuesday, August 19th. Finally, Wall Street Zen upgraded Intuitive Surgical from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Thirteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $595.95.

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.

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