M&T Bank Corp Has $32.84 Million Stock Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

M&T Bank Corp reduced its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 4.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,299 shares of the medical equipment provider's stock after selling 3,097 shares during the period. M&T Bank Corp's holdings in Intuitive Surgical were worth $32,835,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its position in shares of Intuitive Surgical by 24.9% in the 4th quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider's stock worth $1,916,000 after buying an additional 731 shares during the last quarter. Bank Pictet & Cie Europe AG raised its position in shares of Intuitive Surgical by 0.5% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 190,969 shares of the medical equipment provider's stock worth $99,678,000 after buying an additional 883 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in shares of Intuitive Surgical by 70.9% in the 4th quarter. Proficio Capital Partners LLC now owns 1,820 shares of the medical equipment provider's stock worth $950,000 after purchasing an additional 755 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its holdings in shares of Intuitive Surgical by 153.5% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 2,241 shares of the medical equipment provider's stock worth $1,170,000 after purchasing an additional 1,357 shares in the last quarter. Finally, Lifeworks Advisors LLC bought a new stake in shares of Intuitive Surgical in the 4th quarter worth approximately $222,000. 83.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. BTIG Research set a $560.00 target price on shares of Intuitive Surgical and gave the stock a "buy" rating in a research report on Monday, April 14th. Barclays decreased their target price on shares of Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft downgraded shares of Intuitive Surgical from a "hold" rating to a "sell" rating and decreased their target price for the stock from $515.00 to $440.00 in a research report on Monday, June 9th. Piper Sandler reduced their price objective 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. Finally, Truist Financial reduced their price objective on shares of Intuitive Surgical from $605.00 to $590.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $592.59.

Intuitive Surgical Price Performance

Shares of ISRG traded up $0.83 during trading hours on Wednesday, hitting $528.13. The stock had a trading volume of 1,380,875 shares, compared to its average volume of 1,674,064. The company's fifty day moving average is $537.77 and its two-hundred day moving average is $536.93. Intuitive Surgical, Inc. has a 52 week low of $413.82 and a 52 week high of $616.00. The stock has a market capitalization of $189.29 billion, a price-to-earnings ratio of 77.44, a P/E/G ratio of 5.59 and a beta of 1.64.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The medical equipment provider reported $1.81 EPS for the quarter, topping analysts' consensus estimates of $1.71 by $0.10. Intuitive Surgical had a net margin of 28.41% and a return on equity of 14.43%. The firm had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the prior year, the firm earned $1.50 EPS. Equities analysts predict that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

Insider Activity at Intuitive Surgical

In other Intuitive Surgical news, EVP Gary Loeb sold 1,700 shares of the company's stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $513.18, for a total transaction of $872,406.00. Following the transaction, the executive vice president directly owned 2,245 shares in the company, valued at approximately $1,152,089.10. This represents a 43.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Mark Brosius sold 216 shares of the company's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $563.11, for a total transaction of $121,631.76. Following the transaction, the senior vice president owned 907 shares in the company, valued at approximately $510,740.77. The trade was a 19.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,998 shares of company stock worth $2,611,577 in the last quarter. Insiders own 0.70% of the company's stock.

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.