Fifth Third Bancorp Acquires 24,208 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

Fifth Third Bancorp increased its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 12.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 224,140 shares of the medical equipment provider’s stock after buying an additional 24,208 shares during the period. Fifth Third Bancorp owned about 0.06% of Intuitive Surgical worth $111,010,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Castleark Management LLC grew its holdings in Intuitive Surgical by 3.4% in the fourth quarter. Castleark Management LLC now owns 90,469 shares of the medical equipment provider’s stock worth $47,221,000 after purchasing an additional 2,990 shares during the last quarter. Truist Financial Corp grew its holdings in Intuitive Surgical by 3.0% in the fourth quarter. Truist Financial Corp now owns 248,092 shares of the medical equipment provider’s stock worth $129,494,000 after purchasing an additional 7,298 shares during the last quarter. FourThought Financial Partners LLC purchased a new position in Intuitive Surgical in the fourth quarter worth $1,158,000. Longbow Finance SA purchased a new position in Intuitive Surgical in the fourth quarter worth $4,431,000. Finally, Blue Trust Inc. grew its holdings in Intuitive Surgical by 19.7% in the fourth quarter. Blue Trust Inc. now owns 4,467 shares of the medical equipment provider’s stock worth $2,332,000 after purchasing an additional 734 shares during the last quarter. Institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Trading Down 1.4%

Shares of NASDAQ ISRG opened at $522.41 on Thursday. The company has a 50-day moving average of $524.49 and a 200 day moving average of $538.83. Intuitive Surgical, Inc. has a 12-month low of $413.82 and a 12-month high of $616.00. The stock has a market cap of $187.24 billion, a PE ratio of 81.50, a P/E/G ratio of 5.85 and a beta of 1.67.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings results on Tuesday, April 22nd. The medical equipment provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.10. Intuitive Surgical had a net margin of 27.81% and a return on equity of 14.55%. The business had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the prior year, the company posted $1.50 EPS. On average, sell-side analysts forecast that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

Insider Activity

In related news, SVP Mark Brosius sold 215 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $549.06, for a total transaction of $118,047.90. Following the completion of the transaction, the senior vice president now owns 1,768 shares of the company’s stock, valued at approximately $970,738.08. This trade represents a 10.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Robert Desantis sold 188 shares of the stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $515.91, for a total transaction of $96,991.08. Following the transaction, the executive vice president now directly owns 5,224 shares of the company’s stock, valued at $2,695,113.84. The trade was a 3.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,998 shares of company stock valued at $2,611,577 in the last 90 days. Company insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ISRG shares. Deutsche Bank Aktiengesellschaft lowered shares of Intuitive Surgical from a “hold” rating to a “sell” rating and dropped their price objective for the company from $515.00 to $440.00 in a report on Monday. Robert W. Baird lowered their price target on shares of Intuitive Surgical from $600.00 to $575.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Royal Bank of Canada lowered their price target on shares of Intuitive Surgical from $630.00 to $605.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Barclays lowered their price target on shares of Intuitive Surgical from $684.00 to $635.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. Finally, BTIG Research set a $560.00 price objective on shares of Intuitive Surgical and gave the stock a “buy” rating in a research report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $588.95.

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.