FineMark National Bank & Trust Acquires 539 Shares of Intuitive Surgical, Inc. $ISRG

FineMark National Bank & Trust lifted its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 2.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,194 shares of the medical equipment provider’s stock after acquiring an additional 539 shares during the period. FineMark National Bank & Trust’s holdings in Intuitive Surgical were worth $13,147,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Nuveen LLC purchased a new stake in Intuitive Surgical during the 1st quarter worth about $1,715,899,000. Vanguard Group Inc. grew its holdings in Intuitive Surgical by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 33,335,833 shares of the medical equipment provider’s stock valued at $18,115,025,000 after buying an additional 670,302 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Intuitive Surgical by 26.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,819,666 shares of the medical equipment provider’s stock valued at $1,396,496,000 after buying an additional 584,375 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Intuitive Surgical by 20.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,393,951 shares of the medical equipment provider’s stock worth $1,680,922,000 after buying an additional 566,979 shares in the last quarter. Finally, Jennison Associates LLC grew its stake in Intuitive Surgical by 20.4% during the second quarter. Jennison Associates LLC now owns 3,122,390 shares of the medical equipment provider’s stock valued at $1,696,738,000 after acquiring an additional 528,359 shares in the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Intuitive Surgical Stock Performance

NASDAQ ISRG opened at $546.77 on Wednesday. Intuitive Surgical, Inc. has a 52-week low of $425.00 and a 52-week high of $616.00. The company has a fifty day moving average of $485.63 and a 200-day moving average of $503.34. The company has a market capitalization of $196.00 billion, a P/E ratio of 72.32, a P/E/G ratio of 4.94 and a beta of 1.62.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings results on Tuesday, October 21st. The medical equipment provider reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.41. Intuitive Surgical had a return on equity of 15.08% and a net margin of 28.58%.The business had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter last year, the business posted $1.84 earnings per share. The company’s revenue for the quarter was up 22.9% on a year-over-year basis. As a group, analysts forecast that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

Insider Activity at Intuitive Surgical

In other Intuitive Surgical news, CEO David J. Rosa sold 24,500 shares of the stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $547.55, for a total transaction of $13,414,975.00. Following the transaction, the chief executive officer directly owned 234,256 shares in the company, valued at $128,266,872.80. This trade represents a 9.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Myriam Curet sold 7,562 shares of Intuitive Surgical stock in a transaction that occurred on Tuesday, October 28th. The stock was sold at an average price of $548.43, for a total transaction of $4,147,227.66. Following the transaction, the executive vice president directly owned 353 shares in the company, valued at $193,595.79. This trade represents a 95.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 116,164 shares of company stock worth $61,916,172 in the last quarter. 0.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ISRG shares. Piper Sandler increased their target price on shares of Intuitive Surgical from $595.00 to $610.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Truist Financial set a $620.00 price target on shares of Intuitive Surgical and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Argus increased their price objective on Intuitive Surgical from $600.00 to $630.00 in a research report on Monday, October 27th. Hsbc Global Res raised Intuitive Surgical to a “strong-buy” rating in a research note on Thursday, October 23rd. Finally, Jefferies Financial Group boosted their target price on Intuitive Surgical from $550.00 to $560.00 and gave the stock a “hold” rating in a research report on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $608.92.

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.