Intuitive Surgical, Inc. $ISRG Shares Acquired by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. raised its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 1.6% in the second quarter, Holdings Channel.com reports. The fund owned 78,606 shares of the medical equipment provider’s stock after acquiring an additional 1,224 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Intuitive Surgical were worth $42,715,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ISRG. Nuveen LLC acquired a new position in shares of Intuitive Surgical during the first quarter valued at approximately $1,715,899,000. Goldman Sachs Group Inc. increased its holdings in shares of Intuitive Surgical by 26.1% in 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 purchasing an additional 584,375 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased 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 valued at $1,680,922,000 after purchasing an additional 566,979 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Intuitive Surgical by 15.0% in the first quarter. Wellington Management Group LLP now owns 3,499,052 shares of the medical equipment provider’s stock valued at $1,732,975,000 after purchasing an additional 457,080 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Intuitive Surgical by 1.4% in the first quarter. Vanguard Group Inc. now owns 32,665,531 shares of the medical equipment provider’s stock valued at $16,178,258,000 after purchasing an additional 453,335 shares during the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.

Insider Transactions at Intuitive Surgical

In other news, insider Gary S. Guthart sold 29,360 shares of the firm’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $472.49, for a total transaction of $13,872,306.40. Following the completion of the transaction, the insider directly owned 19,827 shares in the company, valued at $9,368,059.23. This trade represents a 59.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Amy L. Ladd sold 336 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $470.11, for a total value of $157,956.96. Following the transaction, the director owned 1,074 shares of the company’s stock, valued at approximately $504,898.14. This represents a 23.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,224 shares of company stock worth $21,716,492 over the last ninety days. Company insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ISRG shares. Piper Sandler reaffirmed an “overweight” rating and issued a $595.00 price target (up previously from $575.00) on shares of Intuitive Surgical in a report on Wednesday, July 23rd. UBS Group set a $529.00 price target on Intuitive Surgical in a report on Monday, October 13th. Wells Fargo & Company increased their price target on Intuitive Surgical from $559.00 to $599.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Intuitive Surgical in a report on Wednesday, October 8th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $685.00 price target on shares of Intuitive Surgical in a report on Tuesday. Fifteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $585.05.

Intuitive Surgical Stock Up 0.9%

ISRG stock opened at $462.74 on Wednesday. The business has a fifty day moving average of $454.39 and a two-hundred day moving average of $495.58. The stock has a market cap of $165.88 billion, a price-to-earnings ratio of 64.54, a price-to-earnings-growth ratio of 4.81 and a beta of 1.61. Intuitive Surgical, Inc. has a 52-week low of $425.00 and a 52-week high of $616.00.

Intuitive Surgical (NASDAQ:ISRG) last posted its earnings results on Tuesday, October 21st. The medical equipment provider reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.41. The company had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%.The firm’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.84 earnings per share. As a group, sell-side analysts anticipate 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.