SouthState Corp Increases Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Key Points

• SouthState Corp increased its stake in Intuitive Surgical by 4.0% during Q1, acquiring an additional 1,576 shares, bringing its total holdings to 40,891 shares valued at approximately $20.25 million.
• Major institutional investors have also increased their positions in Intuitive Surgical, with 83.64% of the stock currently owned by such investors, including Nuveen LLC with a new stake valued at around $1.72 billion.
• Intuitive Surgical reported $2.19 EPS for the last quarter, exceeding analysts' expectations of $1.93, and had a revenue of $2.44 billion, up 21.4% compared to the previous year.

SouthState Corp boosted its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 4.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,891 shares of the medical equipment provider's stock after purchasing an additional 1,576 shares during the quarter. Intuitive Surgical comprises about 0.9% of SouthState Corp's portfolio, making the stock its 28th biggest position. SouthState Corp's holdings in Intuitive Surgical were worth $20,252,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ISRG. Parvin Asset Management LLC purchased a new position in shares of Intuitive Surgical in the 4th quarter valued at $26,000. Chilton Capital Management LLC increased its holdings in shares of Intuitive Surgical by 614.3% in the 1st quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock valued at $25,000 after acquiring an additional 43 shares during the period. Global Financial Private Client LLC boosted its position in shares of Intuitive Surgical by 253.3% in the 1st quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider's stock worth $26,000 after purchasing an additional 38 shares in the last quarter. Elite Financial Inc. acquired a new stake in shares of Intuitive Surgical in the 1st quarter worth $26,000. Finally, LFA Lugano Financial Advisors SA acquired a new stake in shares of Intuitive Surgical in the 1st quarter worth $30,000. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Intuitive Surgical Trading Up 1.3%

Shares of NASDAQ ISRG traded up $6.34 during trading on Tuesday, reaching $478.19. 1,529,402 shares of the company traded hands, compared to its average volume of 2,211,435. The firm's fifty day simple moving average is $514.89 and its 200 day simple moving average is $527.45. The stock has a market cap of $171.42 billion, a P/E ratio of 66.69, a PEG ratio of 4.95 and a beta of 1.59. Intuitive Surgical, Inc. has a 12-month low of $425.00 and a 12-month high of $616.00.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.93 by $0.26. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.35 billion. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%. The company's revenue was up 21.4% on a year-over-year basis. During the same quarter last year, the business posted $1.78 EPS. As a group, research analysts expect that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

Insider Buying and Selling at Intuitive Surgical

In other Intuitive Surgical news, insider Gary S. Guthart sold 7,893 shares of Intuitive Surgical stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $498.64, for a total transaction of $3,935,765.52. Following the completion of the transaction, the insider owned 13,187 shares in the company, valued at approximately $6,575,565.68. This trade represents a 37.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Mark Brosius sold 216 shares of Intuitive Surgical stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $563.11, for a total value of $121,631.76. Following the transaction, the senior vice president owned 907 shares of the company's stock, valued at $510,740.77. The trade was a 19.23% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,881 shares of company stock worth $7,920,634. Insiders own 0.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ISRG. UBS Group raised their price objective on Intuitive Surgical from $547.00 to $585.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Barclays lowered their price objective on Intuitive Surgical from $684.00 to $635.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Citigroup reissued a "buy" rating and issued a $650.00 price objective (up previously from $590.00) on shares of Intuitive Surgical in a research report on Thursday, May 22nd. Erste Group Bank reissued a "hold" rating on shares of Intuitive Surgical in a research report on Wednesday, July 23rd. Finally, Wall Street Zen raised Intuitive Surgical from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Intuitive Surgical presently has an average rating of "Moderate Buy" and an average price target of $595.95.

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.