Tompkins Financial Corp Sells 733 Shares of Intuitive Surgical, Inc. $ISRG

Key Points

• Tompkins Financial Corp reduced its holdings in Intuitive Surgical, Inc. by 4.4% in the second quarter, now owning 16,042 shares valued at $8.7 million.
• A significant number of hedge funds have made drastic changes to their positions in Intuitive Surgical, with some increasing their stakes by up to 614.3%.
• Intuitive Surgical reported better-than-expected earnings for Q2, with a net margin of 28.51% and a return on equity of 14.56%, signaling positive financial performance despite recent stock price fluctuations.

Tompkins Financial Corp trimmed its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 4.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,042 shares of the medical equipment provider's stock after selling 733 shares during the period. Tompkins Financial Corp's holdings in Intuitive Surgical were worth $8,717,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Norway Savings Bank boosted its stake in shares of Intuitive Surgical by 53.4% in the second quarter. Norway Savings Bank now owns 2,613 shares of the medical equipment provider's stock worth $1,420,000 after acquiring an additional 910 shares during the last quarter. Castleark Management LLC raised its position in Intuitive Surgical by 3.4% in the fourth quarter. Castleark Management LLC now owns 90,469 shares of the medical equipment provider's stock valued at $47,221,000 after purchasing an additional 2,990 shares during the period. Trust Co. of Oklahoma acquired a new stake in shares of Intuitive Surgical in the second quarter valued at $363,000. Neville Rodie & Shaw Inc. grew its stake in shares of Intuitive Surgical by 11.9% in the second quarter. Neville Rodie & Shaw Inc. now owns 10,427 shares of the medical equipment provider's stock valued at $5,666,000 after buying an additional 1,110 shares in the last quarter. Finally, Arlington Trust Co LLC grew its stake in shares of Intuitive Surgical by 34.5% in the first quarter. Arlington Trust Co LLC now owns 745 shares of the medical equipment provider's stock valued at $369,000 after buying an additional 191 shares in the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.

Intuitive Surgical Stock Up 0.7%

Shares of Intuitive Surgical stock traded up $2.89 during trading hours on Friday, hitting $438.72. 3,756,410 shares of the company's stock traded hands, compared to its average volume of 2,285,360. The stock has a 50 day simple moving average of $476.64 and a 200-day simple moving average of $504.12. The company has a market cap of $157.27 billion, a PE ratio of 61.19, a PEG ratio of 4.57 and a beta of 1.61. Intuitive Surgical, Inc. has a twelve month low of $425.00 and a twelve month high of $616.00.

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

Insider Buying and Selling

In other Intuitive Surgical news, EVP Myriam Curet sold 4,500 shares of Intuitive Surgical stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $492.48, for a total value of $2,216,160.00. Following the transaction, the executive vice president owned 353 shares in the company, valued at approximately $173,845.44. The trade was a 92.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Amy L. Ladd sold 335 shares of Intuitive Surgical stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $440.69, for a total transaction of $147,631.15. Following the transaction, the director owned 739 shares in the company, valued at approximately $325,669.91. The trade was a 31.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,224 shares of company stock valued at $21,716,492 over the last quarter. Corporate insiders own 0.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Wells Fargo & Company boosted their target price on Intuitive Surgical from $559.00 to $599.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada reissued an "outperform" rating and issued a $615.00 target price on shares of Intuitive Surgical in a report on Tuesday, August 19th. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Intuitive Surgical in a report on Friday, August 22nd. Truist Financial upped their price objective on Intuitive Surgical from $590.00 to $600.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Finally, Zacks Research downgraded Intuitive Surgical from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 20th. Thirteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Intuitive Surgical presently has a consensus rating of "Moderate Buy" and a consensus price target of $595.95.

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.