SouthState Bank Corp Acquires 2,557 Shares of Intuitive Surgical, Inc. $ISRG

SouthState Bank Corp increased its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 5.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,907 shares of the medical equipment provider’s stock after purchasing an additional 2,557 shares during the period. Intuitive Surgical makes up 1.0% of SouthState Bank Corp’s investment portfolio, making the stock its 24th biggest holding. SouthState Bank Corp’s holdings in Intuitive Surgical were worth $22,085,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Draper Asset Management LLC increased its stake in Intuitive Surgical by 41.9% during the fourth quarter. Draper Asset Management LLC now owns 5,029 shares of the medical equipment provider’s stock valued at $2,848,000 after acquiring an additional 1,485 shares during the period. Deutsche Bank AG raised its stake in Intuitive Surgical by 9.6% during the fourth quarter. Deutsche Bank AG now owns 1,522,191 shares of the medical equipment provider’s stock worth $862,108,000 after acquiring an additional 132,966 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Intuitive Surgical by 29.3% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 71,077 shares of the medical equipment provider’s stock worth $40,255,000 after purchasing an additional 16,119 shares in the last quarter. Procyon Advisors LLC increased its holdings in shares of Intuitive Surgical by 787.8% during the fourth quarter. Procyon Advisors LLC now owns 4,794 shares of the medical equipment provider’s stock worth $2,715,000 after buying an additional 4,254 shares in the last quarter. Finally, Robinhood Asset Management LLC bought a new position in Intuitive Surgical in the 4th quarter valued at $6,478,000. Institutional investors and hedge funds own 83.64% of the company’s stock.

Insider Buying and Selling at Intuitive Surgical

In other news, EVP Gary Loeb sold 400 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $424.14, for a total transaction of $169,656.00. Following the transaction, the executive vice president directly owned 5,720 shares of the company’s stock, valued at approximately $2,426,080.80. This trade represents a 6.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 500 shares of Intuitive Surgical stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $473.46, for a total value of $236,730.00. Following the completion of the transaction, the director directly owned 239 shares of the company’s stock, valued at $113,156.94. This represents a 67.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 7,169 shares of company stock valued at $3,059,135 in the last ninety days. 0.60% of the stock is currently owned by corporate insiders.

Intuitive Surgical Trading Down 6.8%

Shares of NASDAQ ISRG opened at $379.50 on Wednesday. Intuitive Surgical, Inc. has a 12 month low of $378.50 and a 12 month high of $603.88. The company has a market capitalization of $134.40 billion, a P/E ratio of 46.00, a P/E/G ratio of 3.31 and a beta of 1.46. The stock has a 50 day moving average of $419.65 and a 200-day moving average of $471.31.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.42. The company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.62 billion. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The company’s revenue was up 23.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.81 earnings per share. Analysts predict that Intuitive Surgical, Inc. will post 8.57 EPS for the current fiscal year.

Trending Headlines about Intuitive Surgical

Here are the key news stories impacting Intuitive Surgical this week:

• Positive Sentiment: Analysts and market watchers still point to solid underlying business momentum, including strong da Vinci procedure growth, continued da Vinci 5 adoption, and expectations that Intuitive Surgical could beat Q2 earnings estimates. Article Title
• Positive Sentiment: Some commentary says the recent weakness reflects investor sentiment and valuation concerns more than company fundamentals, suggesting the long-term growth story remains intact. Article Title
• Neutral Sentiment: The company is heading into its July 16 earnings report, which is keeping traders on the sidelines and increasing volatility ahead of the release. Article Title
• Negative Sentiment: Fresh analyst price-target cuts, including TD Cowen’s reduction to $520 from $585, have reinforced concerns about valuation, competition, international-market challenges, and tariff pressure on margins. Article Title
• Negative Sentiment: The stock also saw unusually heavy put buying and a broader pullback in medtech names, signaling that some investors are positioning defensively ahead of earnings. Article Title

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. HSBC dropped their target price on shares of Intuitive Surgical from $653.00 to $604.00 and set a “buy” rating for the company in a research note on Wednesday, April 22nd. Truist Financial cut their target price on Intuitive Surgical from $650.00 to $580.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Bank of America reduced their price target on shares of Intuitive Surgical from $520.00 to $515.00 in a research report on Friday, June 12th. Evercore set a $430.00 price objective on shares of Intuitive Surgical in a research report on Monday, July 6th. Finally, Raymond James Financial cut their target price on Intuitive Surgical from $615.00 to $577.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Intuitive Surgical currently has a consensus rating of “Moderate Buy” and an average target price of $566.27.

Intuitive Surgical Profile

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon’s hand movements into finer, scaled motions of small instruments inside the patient. Intuitive’s business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.