SouthState Bank Corp Raises Stock Holdings in Intuitive Surgical, Inc. $ISRG

SouthState Bank Corp raised its position in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 2.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 45,350 shares of the medical equipment provider’s stock after purchasing an additional 1,277 shares during the period. Intuitive Surgical comprises approximately 1.1% of SouthState Bank Corp’s holdings, making the stock its 18th largest position. SouthState Bank Corp’s holdings in Intuitive Surgical were worth $25,684,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Syon Capital LLC lifted its stake in Intuitive Surgical by 16.9% in the fourth quarter. Syon Capital LLC now owns 5,523 shares of the medical equipment provider’s stock valued at $3,128,000 after buying an additional 800 shares during the last quarter. Capital World Investors lifted its stake in Intuitive Surgical by 1.7% in the fourth quarter. Capital World Investors now owns 7,856,018 shares of the medical equipment provider’s stock valued at $4,449,491,000 after buying an additional 127,526 shares during the last quarter. Capital International Sarl lifted its stake in Intuitive Surgical by 6.1% in the fourth quarter. Capital International Sarl now owns 114,521 shares of the medical equipment provider’s stock valued at $64,860,000 after buying an additional 6,598 shares during the last quarter. Capital International Ltd. CA lifted its stake in Intuitive Surgical by 1.7% in the fourth quarter. Capital International Ltd. CA now owns 65,276 shares of the medical equipment provider’s stock valued at $36,970,000 after buying an additional 1,074 shares during the last quarter. Finally, Capital Group Investment Management PTE. LTD. increased its holdings in shares of Intuitive Surgical by 2.1% in the fourth quarter. Capital Group Investment Management PTE. LTD. now owns 14,315 shares of the medical equipment provider’s stock valued at $8,107,000 after purchasing an additional 294 shares during the period. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Intuitive Surgical Stock Up 0.8%

Shares of NASDAQ:ISRG opened at $422.06 on Friday. Intuitive Surgical, Inc. has a 52-week low of $396.68 and a 52-week high of $603.88. The stock’s fifty day simple moving average is $447.24 and its 200-day simple moving average is $501.02. The company has a market capitalization of $149.48 billion, a P/E ratio of 51.16, a P/E/G ratio of 3.37 and a beta of 1.46.

Intuitive Surgical (NASDAQ:ISRG) last issued its quarterly earnings data on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.42. Intuitive Surgical had a return on equity of 15.98% and a net margin of 28.15%.The business had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same period in the prior year, the business earned $1.81 earnings per share. The business’s revenue was up 23.0% on a year-over-year basis. On average, sell-side analysts anticipate that Intuitive Surgical, Inc. will post 8.57 earnings per share for the current year.

Insiders Place Their Bets

In other Intuitive Surgical news, EVP Gary Loeb sold 400 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $446.95, for a total value of $178,780.00. Following the sale, the executive vice president directly owned 6,120 shares of the company’s stock, valued at approximately $2,735,334. This trade represents a 6.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark Brosius sold 645 shares of Intuitive Surgical stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $485.01, for a total value of $312,831.45. Following the completion of the sale, the senior vice president owned 1,613 shares of the company’s stock, valued at $782,321.13. This trade represents a 28.57% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 7,448 shares of company stock valued at $3,224,404. Insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ISRG shares. Robert W. Baird boosted their target price on Intuitive Surgical from $575.00 to $610.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Jefferies Financial Group dropped their target price on Intuitive Surgical from $560.00 to $515.00 and set a “hold” rating on the stock in a report on Wednesday, April 22nd. Zacks Research lowered Intuitive Surgical from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. The Goldman Sachs Group set a $558.00 target price on Intuitive Surgical in a research report on Wednesday, May 27th. Finally, Citigroup upgraded Intuitive Surgical from a “neutral” rating to a “buy” rating and set a $590.00 target price on the stock in a research report on Wednesday, March 11th. Nineteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $573.63.

Intuitive Surgical Company Profile

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon’s hand movements into finer, scaled motions of small instruments inside the patient. Intuitive’s business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.