OLD National Bancorp IN Purchases 648 Shares of Intuitive Surgical, Inc. $ISRG

OLD National Bancorp IN lifted its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 12.2% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,943 shares of the medical equipment provider’s stock after buying an additional 648 shares during the period. OLD National Bancorp IN’s holdings in Intuitive Surgical were worth $3,229,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Norway Savings Bank increased its holdings in Intuitive Surgical by 53.4% during the second quarter. Norway Savings Bank now owns 2,613 shares of the medical equipment provider’s stock worth $1,420,000 after buying an additional 910 shares during the last quarter. IronOak Wealth LLC. bought a new position in shares of Intuitive Surgical during the 2nd quarter valued at approximately $1,099,000. Trust Co. of Oklahoma purchased a new stake in shares of Intuitive Surgical during the 2nd quarter worth approximately $363,000. Neville Rodie & Shaw Inc. raised its holdings in shares of Intuitive Surgical by 11.9% in the 2nd quarter. Neville Rodie & Shaw Inc. now owns 10,427 shares of the medical equipment provider’s stock worth $5,666,000 after purchasing an additional 1,110 shares during the period. Finally, Banque Pictet & Cie SA lifted its stake in Intuitive Surgical by 12.1% in the second quarter. Banque Pictet & Cie SA now owns 37,768 shares of the medical equipment provider’s stock valued at $20,524,000 after purchasing an additional 4,085 shares during the last quarter. 83.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. UBS Group boosted their target price on Intuitive Surgical from $547.00 to $585.00 and gave the company a “neutral” rating in a research note on Wednesday, July 23rd. Piper Sandler restated an “overweight” rating and issued a $595.00 price objective (up from $575.00) on shares of Intuitive Surgical in a research note on Wednesday, July 23rd. BTIG Research reaffirmed a “buy” rating and set a $571.00 price objective on shares of Intuitive Surgical in a report on Wednesday, October 1st. Evercore ISI increased their target price on shares of Intuitive Surgical from $470.00 to $550.00 and gave the stock an “in-line” rating in a research report on Tuesday, July 8th. Finally, Wall Street Zen raised shares of Intuitive Surgical from a “hold” rating to a “buy” rating in a research report on Saturday. Fourteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Intuitive Surgical presently has a consensus rating of “Moderate Buy” and a consensus target price of $594.19.

Intuitive Surgical Stock Performance

Shares of NASDAQ:ISRG opened at $452.35 on Monday. Intuitive Surgical, Inc. has a 52-week low of $425.00 and a 52-week high of $616.00. The firm has a fifty day moving average of $463.55 and a 200 day moving average of $500.11. The firm has a market capitalization of $162.16 billion, a PE ratio of 63.09, a price-to-earnings-growth ratio of 4.74 and a beta of 1.61.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.26. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.35 billion. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%.The company’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter last year, the business posted $1.78 earnings per share. On average, sell-side analysts forecast that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Gary S. Guthart sold 29,360 shares of the company’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $472.49, for a total value of $13,872,306.40. Following the completion of the sale, the insider owned 19,827 shares of the company’s stock, valued at approximately $9,368,059.23. This represents a 59.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Myriam Curet sold 4,500 shares of Intuitive Surgical stock in a transaction on Friday, July 25th. The stock was sold at an average price of $492.48, for a total transaction of $2,216,160.00. Following the completion of the transaction, the executive vice president owned 353 shares in the company, valued at approximately $173,845.44. The trade was a 92.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,224 shares of company stock valued at $21,716,492 over the last quarter. 0.70% of the stock is owned by corporate insiders.

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.