Truist Financial Corp Grows Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Truist Financial Corp increased its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 3.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 256,292 shares of the medical equipment provider's stock after purchasing an additional 8,200 shares during the quarter. Truist Financial Corp owned approximately 0.07% of Intuitive Surgical worth $126,934,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in ISRG. Castleark Management LLC increased its position in Intuitive Surgical by 3.4% during the fourth quarter. Castleark Management LLC now owns 90,469 shares of the medical equipment provider's stock worth $47,221,000 after acquiring an additional 2,990 shares during the period. Arlington Trust Co LLC increased its holdings in Intuitive Surgical by 34.5% during the 1st quarter. Arlington Trust Co LLC now owns 745 shares of the medical equipment provider's stock valued at $369,000 after purchasing an additional 191 shares in the last quarter. Aaron Wealth Advisors LLC lifted its position in Intuitive Surgical by 3.2% during the 1st quarter. Aaron Wealth Advisors LLC now owns 2,509 shares of the medical equipment provider's stock worth $1,243,000 after buying an additional 78 shares in the last quarter. Ewing Morris & Co. Investment Partners Ltd. acquired a new position in Intuitive Surgical during the 4th quarter worth about $454,000. Finally, Whalerock Point Partners LLC acquired a new position in Intuitive Surgical during the 4th quarter worth about $209,000. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Intuitive Surgical Trading Down 1.4%

Intuitive Surgical stock traded down $7.41 during midday trading on Tuesday, reaching $527.30. The company's stock had a trading volume of 1,608,552 shares, compared to its average volume of 1,672,097. Intuitive Surgical, Inc. has a 52 week low of $413.82 and a 52 week high of $616.00. The business has a 50-day moving average price of $537.77 and a 200-day moving average price of $536.93. The stock has a market cap of $188.99 billion, a PE ratio of 77.32, a price-to-earnings-growth ratio of 5.67 and a beta of 1.64.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The medical equipment provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.10. Intuitive Surgical had a return on equity of 14.43% and a net margin of 28.41%. The company had revenue of $2.25 billion for the quarter, compared to analysts' expectations of $2.19 billion. During the same period in the previous year, the business posted $1.50 earnings per share. As a group, research analysts predict that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

Insider Buying and Selling

In other Intuitive Surgical news, EVP Robert Desantis sold 188 shares of the business's stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $515.91, for a total value of $96,991.08. Following the transaction, the executive vice president directly owned 5,224 shares of the company's stock, valued at approximately $2,695,113.84. The trade was a 3.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Mark Brosius sold 216 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $563.11, for a total value of $121,631.76. Following the completion of the transaction, the senior vice president directly owned 907 shares in the company, valued at approximately $510,740.77. This trade represents a 19.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,998 shares of company stock valued at $2,611,577. Insiders own 0.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ISRG. Truist Financial cut their target price on shares of Intuitive Surgical from $605.00 to $590.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Erste Group Bank raised Intuitive Surgical from a "hold" rating to a "buy" rating in a research note on Thursday, June 5th. Piper Sandler decreased their price target on shares of Intuitive Surgical from $670.00 to $575.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft cut shares of Intuitive Surgical from a "hold" rating to a "sell" rating and decreased their target price for the company from $515.00 to $440.00 in a research note on Monday, June 9th. Finally, Citigroup reaffirmed a "buy" rating and set a $650.00 price objective (up from $590.00) on shares of Intuitive Surgical in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $592.59.

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.