Norway Savings Bank Buys New Stake in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Norway Savings Bank purchased a new stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,703 shares of the medical equipment provider’s stock, valued at approximately $843,000.

Other large investors also recently modified their holdings of the company. Onefund LLC increased its stake in Intuitive Surgical by 1.9% during the 4th quarter. Onefund LLC now owns 947 shares of the medical equipment provider’s stock valued at $494,000 after buying an additional 18 shares during the period. AlphaCore Capital LLC increased its stake in shares of Intuitive Surgical by 4.2% during the fourth quarter. AlphaCore Capital LLC now owns 451 shares of the medical equipment provider’s stock valued at $235,000 after acquiring an additional 18 shares during the period. Parkside Financial Bank & Trust increased its position in shares of Intuitive Surgical by 2.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 747 shares of the medical equipment provider’s stock valued at $390,000 after purchasing an additional 19 shares during the period. Accredited Investors Inc. increased its position in shares of Intuitive Surgical by 1.9% during the 4th quarter. Accredited Investors Inc. now owns 1,040 shares of the medical equipment provider’s stock valued at $543,000 after purchasing an additional 19 shares during the period. Finally, Second Line Capital LLC increased its position in shares of Intuitive Surgical by 3.4% during the 4th quarter. Second Line Capital LLC now owns 578 shares of the medical equipment provider’s stock valued at $302,000 after purchasing an additional 19 shares during the period. 83.64% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Intuitive Surgical

In other news, Director Jami K. Nachtsheim sold 2,400 shares of the firm’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $520.00, for a total transaction of $1,248,000.00. Following the transaction, the director now owns 6,371 shares in the company, valued at approximately $3,312,920. This trade represents a 27.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert Desantis sold 188 shares of the firm’s stock in a transaction on Monday, April 28th. The shares were sold at an average price of $515.91, for a total transaction of $96,991.08. Following the transaction, the executive vice president now owns 5,224 shares in the company, valued at $2,695,113.84. This represents a 3.47% 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 in the last three months. Corporate insiders own 0.70% of the company’s stock.

Intuitive Surgical Price Performance

NASDAQ ISRG opened at $509.36 on Friday. Intuitive Surgical, Inc. has a 52-week low of $413.82 and a 52-week high of $616.00. The firm has a market capitalization of $182.56 billion, a price-to-earnings ratio of 74.69, a price-to-earnings-growth ratio of 5.40 and a beta of 1.67. The company has a 50 day simple moving average of $528.03 and a 200-day simple moving average of $537.47.

Intuitive Surgical (NASDAQ:ISRG) last released its earnings results on Tuesday, April 22nd. The medical equipment provider reported $1.81 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the prior year, the firm earned $1.50 EPS. On average, analysts predict that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Truist Financial dropped their price target on shares of Intuitive Surgical from $605.00 to $590.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Barclays cut their price target on shares of Intuitive Surgical from $684.00 to $635.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Erste Group Bank raised shares of Intuitive Surgical from a “hold” rating to a “buy” rating in a research note on Thursday, June 5th. Citigroup reiterated a “buy” rating and set a $650.00 price objective (up previously from $590.00) on shares of Intuitive Surgical in a research report on Thursday, May 22nd. Finally, Robert W. Baird cut their price objective on Intuitive Surgical from $600.00 to $575.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $588.95.

Intuitive Surgical Company 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.