SouthState Bank Corp Grows Position in Intuitive Surgical, Inc. $ISRG

SouthState Bank Corp boosted its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 3.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,073 shares of the medical equipment provider’s stock after buying an additional 1,470 shares during the period. Intuitive Surgical accounts for approximately 0.9% of SouthState Bank Corp’s portfolio, making the stock its 28th biggest holding. SouthState Bank Corp’s holdings in Intuitive Surgical were worth $19,711,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ISRG. Tobam raised its stake in Intuitive Surgical by 666.7% during the 2nd quarter. Tobam now owns 46 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 40 shares during the last quarter. Kilter Group LLC acquired a new stake in Intuitive Surgical in the second quarter valued at about $27,000. Princeton Global Asset Management LLC purchased a new position in shares of Intuitive Surgical during the 2nd quarter worth approximately $30,000. Greykasell Wealth Strategies Inc. acquired a new position in Intuitive Surgical during the third quarter worth $27,000. Finally, Riggs Asset Managment Co. Inc. raised its position in Intuitive Surgical by 84.2% in the second quarter. Riggs Asset Managment Co. Inc. now owns 70 shares of the medical equipment provider’s stock worth $38,000 after acquiring an additional 32 shares in the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ISRG has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Intuitive Surgical from a “hold” rating to a “buy” rating in a report on Saturday, January 17th. Robert W. Baird dropped their price objective on Intuitive Surgical from $655.00 to $645.00 and set an “outperform” rating for the company in a research note on Friday, January 23rd. HSBC increased their price objective on shares of Intuitive Surgical from $644.00 to $653.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Citigroup reissued a “neutral” rating and set a $590.00 price objective (down from $635.00) on shares of Intuitive Surgical in a research note on Friday, January 23rd. Finally, Jefferies Financial Group upped their target price on Intuitive Surgical from $550.00 to $560.00 and gave the company a “hold” rating in a research note on Wednesday, October 22nd. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $620.41.

Intuitive Surgical Stock Performance

Shares of ISRG opened at $478.49 on Thursday. Intuitive Surgical, Inc. has a fifty-two week low of $425.00 and a fifty-two week high of $609.08. The company has a market capitalization of $171.53 billion, a PE ratio of 60.65, a price-to-earnings-growth ratio of 3.72 and a beta of 1.65. The stock has a fifty day moving average of $553.29 and a two-hundred day moving average of $510.97.

Intuitive Surgical (NASDAQ:ISRG) last announced its quarterly earnings data on Thursday, January 22nd. The medical equipment provider reported $2.53 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.26. The business had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.72 billion. Intuitive Surgical had a return on equity of 15.06% and a net margin of 28.38%.The business’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.21 earnings per share. As a group, equities research analysts forecast that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Gary S. Guthart sold 2,800 shares of the company’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $531.52, for a total transaction of $1,488,256.00. Following the completion of the transaction, the director owned 15,720 shares of the company’s stock, valued at $8,355,494.40. This represents a 15.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Henry L. Charlton sold 13,731 shares of the stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $580.00, for a total transaction of $7,963,980.00. Following the transaction, the executive vice president owned 3,056 shares in the company, valued at approximately $1,772,480. The trade was a 81.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 73,616 shares of company stock worth $40,929,575 over the last ninety days. Insiders own 0.70% of the company’s stock.

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.