Intuitive Surgical, Inc. $ISRG Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp increased its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 42.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 307,602 shares of the medical equipment provider’s stock after acquiring an additional 91,566 shares during the quarter. Fifth Third Bancorp owned approximately 0.09% of Intuitive Surgical worth $141,801,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. State Street Corp lifted its stake in Intuitive Surgical by 1.0% in the 4th quarter. State Street Corp now owns 15,701,591 shares of the medical equipment provider’s stock valued at $8,892,753,000 after buying an additional 162,264 shares in the last quarter. Capital World Investors lifted its position in shares of Intuitive Surgical by 1.7% in the fourth quarter. Capital World Investors now owns 7,856,018 shares of the medical equipment provider’s stock valued at $4,449,491,000 after acquiring an additional 127,526 shares in the last quarter. Norges Bank acquired a new stake in shares of Intuitive Surgical in the fourth quarter worth approximately $2,856,987,000. Invesco Ltd. increased its position in shares of Intuitive Surgical by 17.4% during the fourth quarter. Invesco Ltd. now owns 4,128,735 shares of the medical equipment provider’s stock worth $2,338,350,000 after purchasing an additional 611,268 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in Intuitive Surgical by 9.4% in the 4th quarter. Wellington Management Group LLP now owns 3,445,880 shares of the medical equipment provider’s stock valued at $1,951,609,000 after purchasing an additional 294,651 shares during the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Amy L. Ladd sold 500 shares of the company’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $473.46, for a total value of $236,730.00. Following the transaction, the director owned 239 shares of the company’s stock, valued at $113,156.94. This represents a 67.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Iman Jeddi sold 5,625 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $420.55, for a total value of $2,365,593.75. Following the transaction, the senior vice president owned 6,463 shares of the company’s stock, valued at approximately $2,718,014.65. This represents a 46.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 7,169 shares of company stock worth $3,059,135. Company insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on ISRG shares. HSBC decreased their price objective on Intuitive Surgical from $653.00 to $604.00 and set a “buy” rating on the stock in a report on Wednesday, April 22nd. Citigroup reiterated a “buy” rating on shares of Intuitive Surgical in a research report on Wednesday. BMO Capital Markets began coverage on shares of Intuitive Surgical in a research note on Wednesday. They issued an “outperform” rating and a $518.00 price target on the stock. TD Cowen lowered their price target on shares of Intuitive Surgical from $660.00 to $585.00 and set a “buy” rating on the stock in a research report on Wednesday, April 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $580.00 price objective on shares of Intuitive Surgical in a research note on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Intuitive Surgical has an average rating of “Moderate Buy” and an average price target of $569.20.

Key Headlines Impacting Intuitive Surgical

Here are the key news stories impacting Intuitive Surgical this week:

• Positive Sentiment: BMO Capital Markets upgraded Intuitive Surgical to strong-buy, which can help sentiment by signaling confidence in the stock’s long-term outlook. Zacks.com
• Positive Sentiment: Investor interest remains supported by expectations that July 16 results will show higher sales and EPS, with strong adoption of the da Vinci 5 surgical robot seen as a key growth driver. ISRG to Report Q2 Results Next Week: Should You Buy the Stock Now?
• Neutral Sentiment: Evercore ISI cut its price target to $430 from $480 while keeping an In Line rating, suggesting the company still has growth potential but investors may be more cautious on near-term upside. Is Intuitive Surgical (ISRG) One Of MedTech’s Best AI Stock To Buy?
• Neutral Sentiment: Options traders are pricing in a wide range of outcomes for ISRG ahead of earnings, reflecting uncertainty around how the report and guidance could move the stock. Just How Much Risk Is Built Into ISRG Stock?
• Negative Sentiment: Investors are weighing possible margin pressure, which could limit enthusiasm even if revenue and earnings grow next quarter. ISRG to Report Q2 Results Next Week: Should You Buy the Stock Now?

Intuitive Surgical Trading Down 1.2%

Intuitive Surgical stock traded down $4.77 during midday trading on Friday, hitting $406.78. 1,858,933 shares of the stock were exchanged, compared to its average volume of 2,319,796. Intuitive Surgical, Inc. has a fifty-two week low of $396.68 and a fifty-two week high of $603.88. The stock has a market capitalization of $144.07 billion, a price-to-earnings ratio of 49.31, a PEG ratio of 3.31 and a beta of 1.46. The stock’s 50-day simple moving average is $422.09 and its 200 day simple moving average is $474.65.

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