SouthState Bank Corp Increases Stock Holdings in Intuitive Surgical, Inc. $ISRG

SouthState Bank Corp boosted its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 2.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,350 shares of the medical equipment provider’s stock after acquiring an additional 1,277 shares during the quarter. Intuitive Surgical accounts for approximately 1.1% of SouthState Bank Corp’s investment portfolio, making the stock its 18th biggest position. SouthState Bank Corp’s holdings in Intuitive Surgical were worth $25,684,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ISRG. Norges Bank purchased a new position in Intuitive Surgical during the 4th quarter valued at about $2,856,987,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Intuitive Surgical by 1,043.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,342,121 shares of the medical equipment provider’s stock valued at $760,124,000 after acquiring an additional 1,224,734 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Intuitive Surgical by 106.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,533,771 shares of the medical equipment provider’s stock valued at $868,667,000 after acquiring an additional 791,516 shares during the period. Amundi boosted its holdings in Intuitive Surgical by 29.7% during the 3rd quarter. Amundi now owns 3,227,472 shares of the medical equipment provider’s stock valued at $1,451,362,000 after acquiring an additional 739,444 shares during the period. Finally, Sands Capital Management LLC boosted its holdings in Intuitive Surgical by 77.0% during the 3rd quarter. Sands Capital Management LLC now owns 1,341,109 shares of the medical equipment provider’s stock valued at $599,784,000 after acquiring an additional 583,539 shares during the period. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Intuitive Surgical Stock Up 0.8%

ISRG stock opened at $422.06 on Friday. The business has a 50 day moving average price of $447.24 and a 200 day moving average price of $501.02. The stock has a market cap of $149.48 billion, a price-to-earnings ratio of 51.16, a PEG ratio of 3.37 and a beta of 1.46. Intuitive Surgical, Inc. has a fifty-two week low of $396.68 and a fifty-two week high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last posted its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.42. The firm had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.62 billion. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The firm’s revenue was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.81 earnings per share. As a group, sell-side analysts anticipate that Intuitive Surgical, Inc. will post 8.57 EPS for the current year.

Insider Activity

In related news, SVP Mark Brosius sold 645 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $485.01, for a total transaction of $312,831.45. Following the completion of the sale, the senior vice president owned 1,613 shares in the company, valued at $782,321.13. The trade was a 28.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Amy L. Ladd sold 119 shares of the business’s stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $463.50, for a total value of $55,156.50. Following the sale, the director owned 120 shares of the company’s stock, valued at approximately $55,620. The trade was a 49.79% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 7,448 shares of company stock valued at $3,224,404 over the last 90 days. Insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. BTIG Research restated a “buy” rating and set a $574.00 target price on shares of Intuitive Surgical in a report on Wednesday, April 22nd. Wall Street Zen cut Intuitive Surgical from a “buy” rating to a “hold” rating in a report on Sunday, May 24th. The Goldman Sachs Group set a $558.00 target price on Intuitive Surgical in a report on Wednesday, May 27th. Citigroup upgraded Intuitive Surgical from a “neutral” rating to a “buy” rating and set a $590.00 price objective for the company in a research note on Wednesday, March 11th. Finally, Mizuho set a $525.00 price objective on Intuitive Surgical and gave the company a “neutral” rating in a research note on Monday, April 13th. Nineteen 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 company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $573.63.

Intuitive Surgical Company 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.