Commerce Bank Sells 653 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Commerce Bank lessened its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 4.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,411 shares of the medical equipment provider’s stock after selling 653 shares during the quarter. Commerce Bank’s holdings in Intuitive Surgical were worth $7,571,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. International Assets Investment Management LLC increased its stake in Intuitive Surgical by 49,383.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,090,619 shares of the medical equipment provider’s stock valued at $535,788,000 after buying an additional 1,088,415 shares during the last quarter. Strategic Financial Concepts LLC increased its position in shares of Intuitive Surgical by 40,221.4% during the second quarter. Strategic Financial Concepts LLC now owns 266,121 shares of the medical equipment provider’s stock valued at $1,184,000 after acquiring an additional 265,461 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in Intuitive Surgical during the second quarter worth $91,466,000. Assenagon Asset Management S.A. boosted its position in Intuitive Surgical by 15.4% in the second quarter. Assenagon Asset Management S.A. now owns 1,483,406 shares of the medical equipment provider’s stock worth $659,893,000 after purchasing an additional 197,841 shares during the last quarter. Finally, Swedbank AB purchased a new stake in shares of Intuitive Surgical during the 1st quarter valued at $74,379,000. Institutional investors and hedge funds own 83.64% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus boosted their price target on shares of Intuitive Surgical from $475.00 to $525.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Oppenheimer reissued a “market perform” rating on shares of Intuitive Surgical in a research report on Friday, October 18th. Robert W. Baird lifted their price target on shares of Intuitive Surgical from $503.00 to $565.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Raymond James increased their price objective on Intuitive Surgical from $500.00 to $540.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, JPMorgan Chase & Co. boosted their target price on Intuitive Surgical from $495.00 to $575.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $524.61.

Intuitive Surgical Stock Performance

Intuitive Surgical stock opened at $550.43 on Friday. The stock has a market cap of $196.05 billion, a P/E ratio of 88.49, a PEG ratio of 5.30 and a beta of 1.39. Intuitive Surgical, Inc. has a fifty-two week low of $304.50 and a fifty-two week high of $551.78. The firm’s fifty day moving average price is $503.57 and its 200-day moving average price is $461.88.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings results on Thursday, October 17th. The medical equipment provider reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.32. Intuitive Surgical had a return on equity of 13.41% and a net margin of 28.51%. The firm had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Sell-side analysts predict that Intuitive Surgical, Inc. will post 5.45 earnings per share for the current year.

Insider Activity at Intuitive Surgical

In other news, EVP Robert Desantis sold 396 shares of Intuitive Surgical stock in a transaction on Monday, August 26th. The shares were sold at an average price of $486.88, for a total transaction of $192,804.48. Following the completion of the sale, the executive vice president now directly owns 5,506 shares of the company’s stock, valued at approximately $2,680,761.28. The trade was a 6.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Mark Brosius sold 2,128 shares of the stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $515.00, for a total value of $1,095,920.00. Following the completion of the transaction, the senior vice president now directly owns 273 shares in the company, valued at approximately $140,595. This represents a 88.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,935 shares of company stock valued at $26,305,169 over the last three months. 0.90% 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.