MidFirst Bank Buys Shares of 9,289 Intuitive Surgical, Inc. $ISRG

Key Points

• MidFirst Bank disclosed a new fourth-quarter stake in Intuitive Surgical, buying 9,289 shares valued at about $5.14 million.
• Several other institutional investors also increased or initiated positions, and hedge funds and institutions now own 83.64% of the company.
• Intuitive Surgical reported strong quarterly results, with EPS of $2.50 and revenue of $2.77 billion, both above analyst expectations, though shares were trading near the lower end of their 52-week range.

MidFirst Bank purchased a new stake in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,289 shares of the medical equipment provider's stock, valued at approximately $5,138,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC raised its position in Intuitive Surgical by 24.9% during 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. Sivia Capital Partners LLC grew its position in shares of Intuitive Surgical by 3.8% in the second quarter. Sivia Capital Partners LLC now owns 928 shares of the medical equipment provider's stock valued at $504,000 after purchasing an additional 34 shares during the last quarter. Schnieders Capital Management LLC. increased its stake in shares of Intuitive Surgical by 38.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 973 shares of the medical equipment provider's stock worth $529,000 after purchasing an additional 268 shares in the last quarter. Osterweis Capital Management Inc. purchased a new position in shares of Intuitive Surgical during the 2nd quarter worth approximately $200,000. Finally, Main Street Financial Solutions LLC raised its position in shares of Intuitive Surgical by 92.4% during the 2nd quarter. Main Street Financial Solutions LLC now owns 2,929 shares of the medical equipment provider's stock worth $1,592,000 after purchasing an additional 1,407 shares during the last quarter. Institutional investors and hedge funds own 83.64% of the company's stock.

Insider Buying and Selling

In other Intuitive Surgical news, SVP Iman Jeddi sold 5,625 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $420.55, for a total transaction of $2,365,593.75. Following the transaction, the senior vice president owned 6,463 shares of the company's stock, valued at $2,718,014.65. This trade represents a 46.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 500 shares of Intuitive Surgical stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $473.46, for a total transaction of $236,730.00. Following the completion of the transaction, the director owned 239 shares in the company, valued at approximately $113,156.94. This trade represents a 67.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 7,169 shares of company stock valued at $3,059,135. Insiders own 0.60% of the company's stock.

Intuitive Surgical Stock Up 1.1%

Shares of NASDAQ:ISRG opened at $406.78 on Friday. The business has a fifty day simple moving average of $439.54 and a 200-day simple moving average of $491.05. Intuitive Surgical, Inc. has a 52 week low of $396.68 and a 52 week high of $603.88. The company has a market cap of $144.07 billion, a P/E ratio of 49.31, a P/E/G ratio of 3.27 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last posted its quarterly earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 EPS for the quarter, beating the consensus estimate of $2.08 by $0.42. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The company had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.62 billion. During the same quarter in the previous year, the business earned $1.81 EPS. The firm's revenue was up 23.0% on a year-over-year basis. Sell-side analysts expect that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Piper Sandler reiterated an "overweight" rating and set a $580.00 target price on shares of Intuitive Surgical in a report on Tuesday, June 2nd. JPMorgan Chase & Co. cut their price target on Intuitive Surgical from $625.00 to $550.00 and set an "overweight" rating for the company in a report on Wednesday, April 22nd. Truist Financial reduced their price objective on Intuitive Surgical from $650.00 to $580.00 and set a "buy" rating on the stock in a research report on Wednesday, April 15th. Evercore decreased their price objective on Intuitive Surgical from $550.00 to $480.00 and set a "neutral" rating on the stock in a research note on Monday, April 6th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Intuitive Surgical in a research report on Tuesday, May 19th. Nineteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Intuitive Surgical currently has a consensus rating of "Moderate Buy" and a consensus target price of $573.42.

Intuitive Surgical Company Profile

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon's hand movements into finer, scaled motions of small instruments inside the patient. Intuitive's business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.

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