Norway Savings Bank Purchases Shares of 1,703 Intuitive Surgical, Inc. (NASDAQ:ISRG)

Norway Savings Bank acquired a new position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,703 shares of the medical equipment provider's stock, valued at approximately $843,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in Intuitive Surgical by 24.9% in the fourth quarter. Brighton Jones LLC now owns 3,672 shares of the medical equipment provider's stock worth $1,916,000 after purchasing an additional 731 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in Intuitive Surgical in the fourth quarter worth about $6,509,000. Bank of Stockton raised its holdings in Intuitive Surgical by 13.5% in the fourth quarter. Bank of Stockton now owns 1,161 shares of the medical equipment provider's stock worth $606,000 after purchasing an additional 138 shares in the last quarter. Bank Pictet & Cie Europe AG raised its holdings in Intuitive Surgical by 0.5% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 190,969 shares of the medical equipment provider's stock worth $99,678,000 after purchasing an additional 883 shares in the last quarter. Finally, Meitav Investment House Ltd. bought a new position in Intuitive Surgical in the fourth quarter worth about $209,000. 83.64% of the stock is owned by hedge funds and other institutional investors.

Intuitive Surgical Price Performance

NASDAQ ISRG traded down $0.13 during mid-day trading on Friday, hitting $509.36. The stock had a trading volume of 2,827,555 shares, compared to its average volume of 1,677,653. The firm's 50 day moving average is $528.03 and its 200 day moving average is $537.38. Intuitive Surgical, Inc. has a twelve month low of $413.82 and a twelve month high of $616.00. The stock has a market capitalization of $182.56 billion, a price-to-earnings ratio of 74.69, a PEG ratio of 5.40 and a beta of 1.67.

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

Wall Street Analysts Forecast Growth

ISRG has been the topic of a number of research analyst reports. Citigroup restated a "buy" rating and set a $650.00 price target (up previously from $590.00) on shares of Intuitive Surgical in a research note on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft lowered Intuitive Surgical from a "hold" rating to a "sell" rating and dropped their price target for the stock from $515.00 to $440.00 in a research note on Monday, June 9th. BTIG Research set a $560.00 price target on Intuitive Surgical and gave the stock a "buy" rating in a research note on Monday, April 14th. Robert W. Baird dropped their target price 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. Finally, Piper Sandler dropped their target price 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. One equities research 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 data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $588.95.

Insiders Place Their Bets

In related news, EVP Robert Desantis sold 188 shares of the firm's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $515.91, for a total transaction of $96,991.08. Following the completion of the transaction, the executive vice president now directly owns 5,224 shares in the company, valued at $2,695,113.84. This trade represents a 3.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Gary Loeb sold 1,700 shares of the firm's stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $513.18, for a total value of $872,406.00. Following the transaction, the executive vice president now owns 2,245 shares of the company's stock, valued at $1,152,089.10. This trade represents a 43.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,998 shares of company stock valued at $2,611,577 in the last three months. 0.70% of the stock is currently owned by insiders.

Intuitive Surgical 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.