Chesapeake Wealth Management bought a new stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 821 shares of the medical equipment provider’s stock, valued at approximately $339,000.
A number of other institutional investors have also recently made changes to their positions in the business. Suntrust Banks Inc. increased its stake in Intuitive Surgical by 113.9% during the 1st quarter. Suntrust Banks Inc. now owns 36,153 shares of the medical equipment provider’s stock valued at $14,923,000 after purchasing an additional 19,248 shares in the last quarter. Amalgamated Bank grew its position in Intuitive Surgical by 10.9% during the first quarter. Amalgamated Bank now owns 16,290 shares of the medical equipment provider’s stock valued at $6,725,000 after buying an additional 1,601 shares during the period. Summit Trail Advisors LLC grew its position in Intuitive Surgical by 49,853.2% during the first quarter. Summit Trail Advisors LLC now owns 215,798 shares of the medical equipment provider’s stock valued at $216,000 after buying an additional 215,366 shares during the period. Cypress Capital Group bought a new stake in Intuitive Surgical during the first quarter valued at approximately $308,000. Finally, CIBC World Markets Inc. lifted its holdings in Intuitive Surgical by 291.8% during the first quarter. CIBC World Markets Inc. now owns 10,713 shares of the medical equipment provider’s stock valued at $4,423,000 after purchasing an additional 7,979 shares in the last quarter. 85.45% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:ISRG opened at $478.48 on Friday. The stock has a market cap of $54.80 billion, a P/E ratio of 66.55, a price-to-earnings-growth ratio of 4.52 and a beta of 0.57. Intuitive Surgical, Inc. has a 12-month low of $306.86 and a 12-month high of $496.92.
Intuitive Surgical (NASDAQ:ISRG) last released its earnings results on Tuesday, April 17th. The medical equipment provider reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.37. The company had revenue of $848.00 million during the quarter, compared to the consensus estimate of $773.20 million. Intuitive Surgical had a return on equity of 20.72% and a net margin of 23.25%. Intuitive Surgical’s revenue was up 25.8% compared to the same quarter last year. During the same period in the previous year, the company posted $5.09 EPS. analysts predict that Intuitive Surgical, Inc. will post 8.84 earnings per share for the current fiscal year.
Several brokerages have weighed in on ISRG. Zacks Investment Research downgraded shares of Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 19th. Sanford C. Bernstein started coverage on shares of Intuitive Surgical in a research note on Wednesday. They set an “outperform” rating and a $560.00 price target on the stock. Bank of America boosted their price objective on shares of Intuitive Surgical from $465.00 to $510.00 and gave the company a “buy” rating in a research report on Wednesday, April 18th. Morgan Stanley upped their price target on shares of Intuitive Surgical from $525.00 to $535.00 and gave the stock an “overweight” rating in a report on Friday, June 1st. Finally, Royal Bank of Canada set a $460.00 price objective on shares of Intuitive Surgical and gave the stock a “hold” rating in a research note on Wednesday, April 18th. Five research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $464.21.
In other news, CEO Gary S. Guthart sold 36,642 shares of the company’s stock in a transaction that occurred on Monday, April 30th. The stock was sold at an average price of $446.96, for a total transaction of $16,377,508.32. Following the completion of the sale, the chief executive officer now owns 340,184 shares in the company, valued at $152,048,640.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mark J. Meltzer sold 6,000 shares of the company’s stock in a transaction on Thursday, June 7th. The shares were sold at an average price of $483.65, for a total value of $2,901,900.00. Following the completion of the sale, the senior vice president now directly owns 11,552 shares in the company, valued at approximately $5,587,124.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 170,767 shares of company stock valued at $77,995,219. 2.20% of the stock is owned by company insiders.
About Intuitive Surgical
Intuitive Surgical, Inc designs, manufactures, and markets da Vinci surgical systems, and related instruments and accessories. The company's da Vinci surgical System translates a surgeon's natural hand movements, which are performed on instrument controls at a console into corresponding micro-movements of instruments positioned inside the patient through small incisions or ports.
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