M&T Bank Corp Boosts Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

M&T Bank Corp lifted its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 0.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 68,581 shares of the medical equipment provider’s stock after buying an additional 226 shares during the period. M&T Bank Corp’s holdings in Intuitive Surgical were worth $33,691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in ISRG. Soltis Investment Advisors LLC raised its position in Intuitive Surgical by 12.6% in the third quarter. Soltis Investment Advisors LLC now owns 519 shares of the medical equipment provider’s stock valued at $255,000 after purchasing an additional 58 shares during the period. Virtue Capital Management LLC grew its stake in shares of Intuitive Surgical by 7.7% in the third quarter. Virtue Capital Management LLC now owns 1,635 shares of the medical equipment provider’s stock valued at $803,000 after buying an additional 117 shares in the last quarter. Arete Wealth Advisors LLC purchased a new stake in shares of Intuitive Surgical in the 3rd quarter valued at $525,000. Coldstream Capital Management Inc. lifted its stake in Intuitive Surgical by 26.2% during the 3rd quarter. Coldstream Capital Management Inc. now owns 11,561 shares of the medical equipment provider’s stock worth $5,773,000 after acquiring an additional 2,399 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Intuitive Surgical by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 7,512,925 shares of the medical equipment provider’s stock valued at $3,677,194,000 after acquiring an additional 143,440 shares during the period. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Intuitive Surgical Trading Up 0.1 %

Shares of Intuitive Surgical stock opened at $524.43 on Friday. The company has a fifty day simple moving average of $526.84 and a 200-day simple moving average of $483.00. The stock has a market cap of $186.79 billion, a price-to-earnings ratio of 84.31, a PEG ratio of 5.35 and a beta of 1.38. Intuitive Surgical, Inc. has a 12-month low of $320.26 and a 12-month high of $556.23.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings data on Thursday, October 17th. The medical equipment provider reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.32. Intuitive Surgical had a net margin of 28.51% and a return on equity of 13.41%. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.01 billion. On average, analysts forecast that Intuitive Surgical, Inc. will post 5.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Robert W. Baird boosted their price target on shares of Intuitive Surgical from $503.00 to $565.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. The Goldman Sachs Group set a $604.00 target price on shares of Intuitive Surgical in a research note on Friday, October 18th. BTIG Research increased their target price on shares of Intuitive Surgical from $535.00 to $561.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Truist Financial boosted their price target on shares of Intuitive Surgical from $570.00 to $640.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Royal Bank of Canada increased their price objective on Intuitive Surgical from $525.00 to $555.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $554.17.

Insider Activity at Intuitive Surgical

In related news, EVP Brian Edward Miller sold 2,553 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $515.00, for a total value of $1,314,795.00. Following the completion of the sale, the executive vice president now owns 7,066 shares in the company, valued at $3,638,990. This represents a 26.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert Desantis sold 188 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $506.52, for a total transaction of $95,225.76. Following the sale, the executive vice president now owns 5,506 shares of the company’s stock, valued at approximately $2,788,899.12. This represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,190 shares of company stock valued at $25,012,927 in the last three months. 0.80% of the stock is currently owned by company insiders.

About Intuitive Surgical

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.