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

M&T Bank Corp lowered its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG – Get Rating) by 3.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,073 shares of the medical equipment provider’s stock after selling 1,987 shares during the quarter. M&T Bank Corp’s holdings in Intuitive Surgical were worth $12,197,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. M Holdings Securities Inc. increased its holdings in Intuitive Surgical by 2.4% during the 3rd quarter. M Holdings Securities Inc. now owns 4,727 shares of the medical equipment provider’s stock worth $886,000 after purchasing an additional 110 shares during the period. Liberty One Investment Management LLC raised its stake in shares of Intuitive Surgical by 157.6% during the 3rd quarter. Liberty One Investment Management LLC now owns 3,266 shares of the medical equipment provider’s stock worth $612,000 after buying an additional 1,998 shares in the last quarter. Captrust Financial Advisors raised its stake in shares of Intuitive Surgical by 0.7% during the 3rd quarter. Captrust Financial Advisors now owns 19,067 shares of the medical equipment provider’s stock worth $3,574,000 after buying an additional 140 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund raised its stake in shares of Intuitive Surgical by 4.4% during the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 12,798 shares of the medical equipment provider’s stock worth $2,399,000 after buying an additional 534 shares in the last quarter. Finally, Kentucky Retirement Systems raised its stake in shares of Intuitive Surgical by 4.9% during the 3rd quarter. Kentucky Retirement Systems now owns 27,954 shares of the medical equipment provider’s stock worth $5,240,000 after buying an additional 1,313 shares in the last quarter. Hedge funds and other institutional investors own 81.96% of the company’s stock.

Insider Activity

In other news, EVP Myriam Curet sold 1,253 shares of the company’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $228.47, for a total value of $286,272.91. Following the transaction, the executive vice president now directly owns 1,950 shares of the company’s stock, valued at $445,516.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Robert Desantis sold 1,629 shares of the stock in a transaction dated Friday, January 27th. The shares were sold at an average price of $250.00, for a total value of $407,250.00. Following the completion of the sale, the executive vice president now owns 6,769 shares in the company, valued at $1,692,250. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Myriam Curet sold 1,253 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $228.47, for a total transaction of $286,272.91. Following the transaction, the executive vice president now owns 1,950 shares of the company’s stock, valued at approximately $445,516.50. The disclosure for this sale can be found here. Insiders sold 82,396 shares of company stock worth $20,438,478 over the last quarter. Corporate insiders own 0.90% of the company’s stock.

Intuitive Surgical Trading Down 0.5 %

NASDAQ:ISRG opened at $234.18 on Thursday. The firm has a market capitalization of $82.05 billion, a PE ratio of 63.98, a price-to-earnings-growth ratio of 4.47 and a beta of 1.29. The stock has a 50 day moving average of $245.39 and a 200-day moving average of $237.93. Intuitive Surgical, Inc. has a 52 week low of $180.07 and a 52 week high of $308.97.

Intuitive Surgical (NASDAQ:ISRG – Get Rating) last released its earnings results on Tuesday, January 24th. The medical equipment provider reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.02). Intuitive Surgical had a return on equity of 11.27% and a net margin of 21.25%. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter last year, the company earned $1.30 earnings per share. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. As a group, analysts predict that Intuitive Surgical, Inc. will post 4.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ISRG has been the subject of a number of analyst reports. Barclays increased their target price on Intuitive Surgical from $235.00 to $298.00 in a research note on Wednesday, January 4th. Argus raised their price objective on Intuitive Surgical from $265.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, December 22nd. Raymond James raised their price objective on Intuitive Surgical from $255.00 to $270.00 and gave the company an “outperform” rating in a research note on Thursday, January 26th. Citigroup dropped their price objective on Intuitive Surgical from $318.00 to $305.00 and set a “buy” rating for the company in a research note on Wednesday, January 25th. Finally, Truist Financial dropped their price objective on Intuitive Surgical from $310.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, January 25th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Intuitive Surgical presently has an average rating of “Moderate Buy” and a consensus target price of $273.83.

Intuitive Surgical Profile

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Intuitive Surgical, Inc engages in the provision of robotic-assisted surgical solutions and invasive care through a comprehensive ecosystem of products and services. Its products include Da Vinci Surgical and Ion Endoluminal systems. The company was founded by Frederic H. Moll, John Gordon Freund, and Robert G.