Grove Bank & Trust Buys 584 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Grove Bank & Trust raised its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 85.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,270 shares of the medical equipment provider’s stock after acquiring an additional 584 shares during the period. Grove Bank & Trust’s holdings in Intuitive Surgical were worth $629,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ISRG. Atala Financial Inc bought a new position in Intuitive Surgical during the 4th quarter valued at about $25,000. Parvin Asset Management LLC bought a new position in shares of Intuitive Surgical during the fourth quarter valued at approximately $26,000. Global Financial Private Client LLC raised its holdings in shares of Intuitive Surgical by 253.3% in the first quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider’s stock worth $26,000 after buying an additional 38 shares during the period. BankPlus Trust Department purchased a new stake in shares of Intuitive Surgical in the fourth quarter worth approximately $28,000. Finally, Hurley Capital LLC purchased a new position in Intuitive Surgical during the 4th quarter valued at $28,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Robert Desantis sold 188 shares of the company’s stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $515.91, for a total value of $96,991.08. Following the completion of the sale, the executive vice president now owns 5,224 shares of the company’s stock, valued at approximately $2,695,113.84. This represents a 3.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Mark Brosius sold 216 shares of the firm’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $563.11, for a total value of $121,631.76. Following the sale, the senior vice president now directly owns 907 shares of the company’s stock, valued at $510,740.77. The trade was a 19.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,998 shares of company stock valued at $2,611,577. Insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on ISRG shares. BTIG Research set a $560.00 target price on Intuitive Surgical and gave the stock a “buy” rating in a research note on Monday, April 14th. Barclays reduced their price target on shares of Intuitive Surgical from $684.00 to $635.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Piper Sandler lowered their price objective on shares of Intuitive Surgical from $670.00 to $575.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Erste Group Bank upgraded shares of Intuitive Surgical from a “hold” rating to a “buy” rating in a report on Thursday, June 5th. Finally, Evercore ISI dropped their price objective on shares of Intuitive Surgical from $510.00 to $470.00 and set an “in-line” rating on the stock in a research note on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $588.95.

Intuitive Surgical Price Performance

Shares of NASDAQ:ISRG opened at $512.11 on Wednesday. The business’s 50-day moving average is $527.58 and its 200 day moving average is $538.12. Intuitive Surgical, Inc. has a 1 year low of $413.82 and a 1 year high of $616.00. The firm has a market capitalization of $183.55 billion, a P/E ratio of 75.09, a P/E/G ratio of 5.51 and a beta of 1.67.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings data on Tuesday, April 22nd. The medical equipment provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.10. The firm had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.19 billion. Intuitive Surgical had a net margin of 28.41% and a return on equity of 14.43%. During the same quarter in the prior year, the company posted $1.50 earnings per share. On average, analysts expect that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

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.