Mechanics Financial Corp Takes Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Mechanics Financial Corp purchased a new stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 112 shares of the medical equipment provider’s stock, valued at approximately $55,000.

Other large investors have also recently modified their holdings of the company. Castleark Management LLC raised its stake in shares of Intuitive Surgical by 3.4% during the fourth quarter. Castleark Management LLC now owns 90,469 shares of the medical equipment provider’s stock valued at $47,221,000 after acquiring an additional 2,990 shares during the last quarter. Arlington Trust Co LLC raised its stake in shares of Intuitive Surgical by 34.5% during the first quarter. Arlington Trust Co LLC now owns 745 shares of the medical equipment provider’s stock valued at $369,000 after acquiring an additional 191 shares during the last quarter. Aaron Wealth Advisors LLC raised its stake in shares of Intuitive Surgical by 3.2% during the first quarter. Aaron Wealth Advisors LLC now owns 2,509 shares of the medical equipment provider’s stock valued at $1,243,000 after acquiring an additional 78 shares during the last quarter. Ewing Morris & Co. Investment Partners Ltd. bought a new position in shares of Intuitive Surgical during the fourth quarter valued at $454,000. Finally, Whalerock Point Partners LLC bought a new position in shares of Intuitive Surgical during the fourth quarter valued at $209,000. Institutional investors own 83.64% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ISRG shares. Deutsche Bank Aktiengesellschaft cut shares of Intuitive Surgical from a “hold” rating to a “sell” rating and decreased their price objective for the stock from $515.00 to $440.00 in a research report on Monday, June 9th. BTIG Research set a $566.00 price target on shares of Intuitive Surgical and gave the stock a “buy” rating in a report on Monday. Robert W. Baird reduced their price target on shares of Intuitive Surgical from $600.00 to $575.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Citigroup restated a “buy” rating and issued a $650.00 price target (up from $590.00) on shares of Intuitive Surgical in a report on Thursday, May 22nd. Finally, Evercore ISI raised their price target on shares of Intuitive Surgical from $470.00 to $550.00 and gave the stock an “in-line” rating in a report on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $592.86.

Intuitive Surgical Price Performance

ISRG opened at $512.23 on Wednesday. The company’s 50-day moving average is $537.18 and its 200 day moving average is $536.37. Intuitive Surgical, Inc. has a fifty-two week low of $413.82 and a fifty-two week high of $616.00. The firm has a market capitalization of $183.59 billion, a P/E ratio of 75.11, a PEG ratio of 5.48 and a beta of 1.64.

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

Insider Activity

In other Intuitive Surgical news, EVP Robert Desantis sold 188 shares of Intuitive Surgical 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 sale, the executive vice president owned 5,224 shares of the company’s stock, valued at approximately $2,695,113.84. The trade was a 3.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Gary Loeb sold 1,700 shares of Intuitive Surgical stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $513.18, for a total transaction of $872,406.00. Following the completion of the sale, the executive vice president directly owned 2,245 shares in the company, valued at approximately $1,152,089.10. This represents a 43.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,998 shares of company stock valued at $2,611,577 over the last ninety days. Company insiders own 0.70% of the company’s stock.

About Intuitive Surgical

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.