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

M&T Bank Corp reduced its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 4.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Intuitive Surgical by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 32,212,196 shares of the medical equipment provider's stock valued at $16,813,478,000 after purchasing an additional 360,591 shares during the period. Geode Capital Management LLC grew its stake in shares of Intuitive Surgical by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 7,756,727 shares of the medical equipment provider's stock valued at $4,039,200,000 after purchasing an additional 243,802 shares during the period. Norges Bank bought a new stake in shares of Intuitive Surgical in the 4th quarter valued at approximately $2,401,493,000. Invesco Ltd. grew its stake in shares of Intuitive Surgical by 7.7% in the 4th quarter. Invesco Ltd. now owns 4,148,180 shares of the medical equipment provider's stock valued at $2,165,184,000 after purchasing an additional 295,025 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Intuitive Surgical by 15.8% in the 4th quarter. Northern Trust Corp now owns 3,619,293 shares of the medical equipment provider's stock valued at $1,889,126,000 after purchasing an additional 494,496 shares during the period. 83.64% of the stock is currently owned by institutional investors.

Intuitive Surgical Stock Down 2.7%

NASDAQ:ISRG traded down $13.99 during trading hours on Friday, hitting $512.06. 2,951,229 shares of the stock were exchanged, compared to its average volume of 1,679,961. The company's 50 day moving average is $537.85 and its two-hundred day moving average is $536.69. Intuitive Surgical, Inc. has a twelve month low of $413.82 and a twelve month high of $616.00. The company has a market capitalization of $183.53 billion, a P/E ratio of 75.08, a price-to-earnings-growth ratio of 5.58 and a beta of 1.64.

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ISRG shares. Barclays lowered their price objective on Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Truist Financial decreased their price target on Intuitive Surgical from $605.00 to $590.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Robert W. Baird decreased their price target on Intuitive Surgical from $600.00 to $575.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Piper Sandler decreased their price target on Intuitive Surgical from $670.00 to $575.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Finally, Evercore ISI increased their price target on Intuitive Surgical from $470.00 to $550.00 and gave the stock an "in-line" rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $592.59.

Insider Buying and Selling

In other news, EVP Robert Desantis sold 188 shares of the stock in a transaction 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 owned 5,224 shares of the company's stock, valued at $2,695,113.84. This represents a 3.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Mark Brosius sold 216 shares of the stock in a transaction 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,998 shares of company stock worth $2,611,577. Company 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.