Intuitive Surgical, Inc. (NASDAQ:ISRG) Position Boosted by SouthState Corp

SouthState Corp increased its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 0.4% during the fourth quarter, Holdings Channel reports. The fund owned 33,728 shares of the medical equipment provider’s stock after acquiring an additional 121 shares during the quarter. SouthState Corp’s holdings in Intuitive Surgical were worth $11,378,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of ISRG. Brookstone Capital Management lifted its holdings in shares of Intuitive Surgical by 277.7% in the 3rd quarter. Brookstone Capital Management now owns 7,259 shares of the medical equipment provider’s stock valued at $1,985,000 after acquiring an additional 5,337 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in Intuitive Surgical by 10.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 61,148 shares of the medical equipment provider’s stock valued at $17,873,000 after buying an additional 6,018 shares during the period. Vicus Capital purchased a new position in Intuitive Surgical in the 3rd quarter valued at approximately $263,000. Cambridge Investment Research Advisors Inc. raised its position in shares of Intuitive Surgical by 15.1% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 27,295 shares of the medical equipment provider’s stock valued at $7,978,000 after buying an additional 3,589 shares during the last quarter. Finally, Raymond James & Associates raised its position in shares of Intuitive Surgical by 31.1% in the third quarter. Raymond James & Associates now owns 330,983 shares of the medical equipment provider’s stock valued at $96,743,000 after buying an additional 78,457 shares during the last quarter. Institutional investors own 83.64% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ISRG shares. Royal Bank of Canada increased their price objective on shares of Intuitive Surgical from $400.00 to $432.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Mizuho lifted their price target on shares of Intuitive Surgical from $350.00 to $390.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. Robert W. Baird lowered their target price on shares of Intuitive Surgical from $440.00 to $436.00 and set an “outperform” rating on the stock in a report on Friday, April 19th. Wells Fargo & Company boosted their price target on Intuitive Surgical from $363.00 to $416.00 and gave the stock an “overweight” rating in a report on Friday, January 19th. Finally, Piper Sandler upped their target price on Intuitive Surgical from $425.00 to $435.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $396.17.

Intuitive Surgical Stock Performance

Shares of Intuitive Surgical stock traded up $5.95 on Thursday, reaching $377.65. The company had a trading volume of 1,001,453 shares, compared to its average volume of 1,629,199. Intuitive Surgical, Inc. has a 52-week low of $254.85 and a 52-week high of $403.76. The firm’s 50 day moving average price is $385.79 and its two-hundred day moving average price is $348.35. The firm has a market cap of $133.96 billion, a PE ratio of 67.09, a PEG ratio of 4.79 and a beta of 1.39.

Intuitive Surgical (NASDAQ:ISRG) last posted its earnings results on Thursday, April 18th. The medical equipment provider reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.10. Intuitive Surgical had a net margin of 27.16% and a return on equity of 12.91%. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period last year, the firm posted $1.00 EPS. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. As a group, sell-side analysts predict that Intuitive Surgical, Inc. will post 4.8 EPS for the current year.

Insiders Place Their Bets

In other news, VP Marshall Mohr sold 108,790 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $385.08, for a total transaction of $41,892,853.20. Following the completion of the transaction, the vice president now directly owns 26,877 shares in the company, valued at approximately $10,349,795.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, President David J. Rosa sold 80,710 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $389.28, for a total transaction of $31,418,788.80. Following the completion of the transaction, the president now directly owns 163,399 shares in the company, valued at $63,607,962.72. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Marshall Mohr sold 108,790 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $385.08, for a total value of $41,892,853.20. Following the transaction, the vice president now owns 26,877 shares in the company, valued at approximately $10,349,795.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 226,928 shares of company stock worth $87,833,828. Company insiders own 0.90% of the company’s stock.

Intuitive Surgical Company 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.