MidFirst Bank Makes New $5.14 Million Investment in Intuitive Surgical, Inc. $ISRG

MidFirst Bank acquired a new position in Intuitive Surgical, Inc. (NASDAQ:ISRG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,289 shares of the medical equipment provider’s stock, valued at approximately $5,138,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ISRG. Norges Bank acquired a new position in shares of Intuitive Surgical during the fourth quarter worth about $2,856,987,000. J. Stern & Co. LLP grew its stake in shares of Intuitive Surgical by 18,504.6% in the fourth quarter. J. Stern & Co. LLP now owns 2,127,248 shares of the medical equipment provider’s stock valued at $1,204,788,000 after buying an additional 2,115,814 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Intuitive Surgical by 1,043.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,342,121 shares of the medical equipment provider’s stock worth $760,124,000 after acquiring an additional 1,224,734 shares during the period. Polen Capital Management LLC purchased a new position in Intuitive Surgical in the 4th quarter worth approximately $477,225,000. Finally, Assenagon Asset Management S.A. grew its position in Intuitive Surgical by 106.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,533,771 shares of the medical equipment provider’s stock valued at $868,667,000 after acquiring an additional 791,516 shares in the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Mizuho set a $525.00 price objective on shares of Intuitive Surgical and gave the company a “neutral” rating in a research note on Monday, April 13th. Bank of America lowered their price target on shares of Intuitive Surgical from $520.00 to $515.00 in a report on Friday, June 12th. Robert W. Baird lifted their price target on shares of Intuitive Surgical from $575.00 to $610.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. HSBC cut their price objective on shares of Intuitive Surgical from $653.00 to $604.00 and set a “buy” rating on the stock in a report on Wednesday, April 22nd. Finally, Wall Street Zen upgraded Intuitive Surgical from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Nineteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $573.42.

Intuitive Surgical Price Performance

NASDAQ ISRG opened at $406.78 on Friday. The company has a market capitalization of $144.07 billion, a price-to-earnings ratio of 49.31, a price-to-earnings-growth ratio of 3.27 and a beta of 1.46. Intuitive Surgical, Inc. has a 12 month low of $396.68 and a 12 month high of $603.88. The company’s fifty day moving average price is $439.54 and its two-hundred day moving average price is $491.05.

Intuitive Surgical (NASDAQ:ISRG) last released its earnings results on Tuesday, April 21st. The medical equipment provider reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.42. Intuitive Surgical had a net margin of 28.15% and a return on equity of 15.98%. The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the previous year, the firm earned $1.81 EPS. The company’s revenue was up 23.0% on a year-over-year basis. As a group, analysts anticipate that Intuitive Surgical, Inc. will post 8.57 EPS for the current year.

Insider Activity at Intuitive Surgical

In other Intuitive Surgical news, EVP Gary Loeb sold 400 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $424.14, for a total transaction of $169,656.00. Following the transaction, the executive vice president owned 5,720 shares of the company’s stock, valued at $2,426,080.80. This trade represents a 6.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Iman Jeddi sold 5,625 shares of Intuitive Surgical stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $420.55, for a total value of $2,365,593.75. Following the completion of the transaction, the senior vice president owned 6,463 shares of the company’s stock, valued at approximately $2,718,014.65. The trade was a 46.53% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 7,169 shares of company stock valued at $3,059,135 over the last three months. 0.60% of the stock is owned by insiders.

Intuitive Surgical 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.