Intuitive Surgical, Inc. $ISRG Shares Bought by M&T Bank Corp

M&T Bank Corp increased its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 7.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 62,741 shares of the medical equipment provider’s stock after acquiring an additional 4,359 shares during the quarter. M&T Bank Corp’s holdings in Intuitive Surgical were worth $35,534,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ISRG. Rakuten Investment Management Inc. acquired a new stake in Intuitive Surgical in the third quarter valued at $388,436,000. Assenagon Asset Management S.A. raised its stake in shares of Intuitive Surgical by 106.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,533,771 shares of the medical equipment provider’s stock worth $868,667,000 after buying an additional 791,516 shares during the last quarter. Amundi raised its stake in shares of Intuitive Surgical by 29.7% during the 3rd quarter. Amundi now owns 3,227,472 shares of the medical equipment provider’s stock worth $1,451,362,000 after buying an additional 739,444 shares during the last quarter. Sands Capital Management LLC boosted its position in shares of Intuitive Surgical by 77.0% in the 3rd quarter. Sands Capital Management LLC now owns 1,341,109 shares of the medical equipment provider’s stock worth $599,784,000 after buying an additional 583,539 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Intuitive Surgical by 41.3% in the 3rd quarter. Victory Capital Management Inc. now owns 1,941,310 shares of the medical equipment provider’s stock worth $868,212,000 after buying an additional 567,483 shares in the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ISRG has been the subject of a number of research reports. Piper Sandler cut their target price on shares of Intuitive Surgical from $620.00 to $580.00 and set an “overweight” rating for the company in a research report on Wednesday, April 22nd. Sanford C. Bernstein upped their price target on shares of Intuitive Surgical from $740.00 to $750.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. JPMorgan Chase & Co. lowered their price target on shares of Intuitive Surgical from $625.00 to $550.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 22nd. Wall Street Zen cut shares of Intuitive Surgical from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, Truist Financial reduced their target price on Intuitive Surgical from $650.00 to $580.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Eighteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Intuitive Surgical has a consensus rating of “Moderate Buy” and an average target price of $581.91.

Insider Buying and Selling

In other news, EVP Myriam Curet sold 105 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $493.95, for a total transaction of $51,864.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Fredrik Widman sold 133 shares of the stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $494.96, for a total transaction of $65,829.68. Following the transaction, the vice president owned 660 shares in the company, valued at approximately $326,673.60. The trade was a 16.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 5,906 shares of company stock worth $2,907,726 over the last ninety days. Insiders own 0.60% of the company’s stock.

Intuitive Surgical Price Performance

Shares of NASDAQ ISRG opened at $452.35 on Tuesday. The company has a market cap of $160.20 billion, a PE ratio of 54.83, a price-to-earnings-growth ratio of 3.66 and a beta of 1.51. Intuitive Surgical, Inc. has a 12 month low of $427.84 and a 12 month high of $603.88. The company has a 50-day simple moving average of $474.86 and a 200-day simple moving average of $517.11.

Intuitive Surgical (NASDAQ:ISRG) last released its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 EPS for the quarter, topping the consensus estimate of $2.08 by $0.42. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The firm had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same period in the previous year, the company earned $1.81 EPS. Intuitive Surgical’s revenue for the quarter was up 23.0% on a year-over-year basis. On average, analysts anticipate that Intuitive Surgical, Inc. will post 8.57 EPS for the current year.

About Intuitive Surgical

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.