M&T Bank Corp Increases Stock Holdings in Intuitive Surgical, Inc. $ISRG

Key Points

• M&T Bank Corp increased its stake in Intuitive Surgical by 7.5% in Q4, buying 4,359 shares to total 62,741 shares valued at about $35.53 million.
• Intuitive Surgical beat expectations in its most recent quarter with EPS of $2.50 (vs. $2.08 expected) and revenue of $2.77 billion, marking a 23% year-over-year revenue increase.
• Institutional investors own 83.64% of the stock while insiders sold 5,906 shares (~$2.9M) in the last 90 days; analysts' consensus is a "Moderate Buy" with an average target of $581.91.

M&T Bank Corp grew its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 7.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 62,741 shares of the medical equipment provider's stock after purchasing an additional 4,359 shares during the quarter. M&T Bank Corp's holdings in Intuitive Surgical were worth $35,534,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of ISRG. Brighton Jones LLC raised its stake in Intuitive Surgical by 24.9% during the 4th 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 in the last quarter. Sivia Capital Partners LLC boosted its stake in 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 acquiring an additional 34 shares in the last quarter. Schnieders Capital Management LLC. boosted its stake in Intuitive Surgical by 38.0% in the second quarter. Schnieders Capital Management LLC. now owns 973 shares of the medical equipment provider's stock valued at $529,000 after acquiring an additional 268 shares in the last quarter. Osterweis Capital Management Inc. purchased a new position in shares of Intuitive Surgical during the second quarter worth about $200,000. Finally, Main Street Financial Solutions LLC grew its holdings in shares of Intuitive Surgical by 92.4% during the second 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. Hedge funds and other institutional investors own 83.64% of the company's stock.

Intuitive Surgical Price Performance

Shares of NASDAQ ISRG opened at $452.35 on Tuesday. The stock has a fifty day moving average price of $474.86 and a 200 day moving average price of $517.11. Intuitive Surgical, Inc. has a 1-year low of $427.84 and a 1-year high of $603.88. The company has a market cap of $160.20 billion, a PE ratio of 54.83, a P/E/G ratio of 3.66 and a beta of 1.51.

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

Insider Transactions at Intuitive Surgical

In other news, VP Fredrik Widman sold 133 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $494.96, for a total transaction of $65,829.68. Following the completion of the transaction, the vice president directly owned 660 shares of the company's stock, valued at approximately $326,673.60. This represents a 16.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Myriam Curet sold 105 shares of Intuitive Surgical stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $493.95, for a total value of $51,864.75. The disclosure for this sale is available in the SEC filing. Insiders have sold 5,906 shares of company stock valued at $2,907,726 over the last 90 days. Insiders own 0.60% of the company's stock.

Wall Street Analysts Forecast Growth

ISRG has been the subject of a number of research analyst reports. UBS Group decreased their target price on Intuitive Surgical from $570.00 to $550.00 and set a "neutral" rating for the company in a research report on Tuesday, March 17th. TD Cowen reduced their price objective on Intuitive Surgical from $660.00 to $585.00 and set a "buy" rating for the company in a research note on Wednesday, April 22nd. Sanford C. Bernstein increased their price objective on Intuitive Surgical from $740.00 to $750.00 and gave the company an "outperform" rating in a report on Friday, January 23rd. Wall Street Zen lowered shares of Intuitive Surgical from a "buy" rating to a "hold" rating in a research report on Saturday, February 7th. Finally, JPMorgan Chase & Co. cut their target price on shares of Intuitive Surgical from $625.00 to $550.00 and set an "overweight" rating on the stock in a report on Wednesday, April 22nd. Eighteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Intuitive Surgical currently has an average rating of "Moderate Buy" and an average target price of $581.91.

Intuitive Surgical 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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