SouthState Corp Acquires 488 Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG)

SouthState Corp increased its holdings in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 1.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,280 shares of the medical equipment provider’s stock after acquiring an additional 488 shares during the period. Intuitive Surgical comprises approximately 1.3% of SouthState Corp’s holdings, making the stock its 24th largest holding. SouthState Corp’s holdings in Intuitive Surgical were worth $18,315,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of ISRG. Lake Street Advisors Group LLC boosted its position in Intuitive Surgical by 96.2% in the 1st quarter. Lake Street Advisors Group LLC now owns 2,833 shares of the medical equipment provider’s stock valued at $1,131,000 after buying an additional 1,389 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Intuitive Surgical by 10,606.9% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 12,420 shares of the medical equipment provider’s stock valued at $4,957,000 after buying an additional 12,304 shares during the last quarter. Natixis boosted its position in Intuitive Surgical by 9.4% in the 1st quarter. Natixis now owns 49,706 shares of the medical equipment provider’s stock valued at $19,837,000 after buying an additional 4,266 shares during the last quarter. Crewe Advisors LLC bought a new position in Intuitive Surgical in the 1st quarter valued at $161,000. Finally, Northwest Wealth Management LLC bought a new position in Intuitive Surgical in the 1st quarter valued at $216,000. 83.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ISRG has been the topic of a number of recent research reports. Royal Bank of Canada increased their price objective on Intuitive Surgical from $525.00 to $555.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. raised their price target on Intuitive Surgical from $495.00 to $575.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Stifel Nicolaus raised their price target on Intuitive Surgical from $475.00 to $525.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. BTIG Research set a $535.00 price target on Intuitive Surgical in a research report on Friday, October 18th. Finally, Leerink Partners raised their price target on Intuitive Surgical from $489.00 to $502.00 in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Intuitive Surgical has a consensus rating of “Moderate Buy” and a consensus target price of $524.61.

Intuitive Surgical Stock Performance

ISRG opened at $531.64 on Tuesday. Intuitive Surgical, Inc. has a 52-week low of $304.50 and a 52-week high of $544.38. The firm has a market capitalization of $189.36 billion, a PE ratio of 85.47, a PEG ratio of 5.19 and a beta of 1.39. The business’s 50-day simple moving average is $500.33 and its 200 day simple moving average is $459.58.

Intuitive Surgical (NASDAQ:ISRG) last released its earnings results on Thursday, October 17th. The medical equipment provider reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.32. Intuitive Surgical had a return on equity of 13.41% and a net margin of 28.51%. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.01 billion. On average, research analysts forecast that Intuitive Surgical, Inc. will post 5.45 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Henry L. Charlton sold 40,243 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $486.84, for a total transaction of $19,591,902.12. Following the sale, the senior vice president now owns 3,001 shares in the company, valued at approximately $1,461,006.84. This represents a 93.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jamie Samath sold 22,903 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $525.00, for a total value of $12,024,075.00. Following the transaction, the insider now directly owns 8,757 shares in the company, valued at approximately $4,597,425. This trade represents a 72.34 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,178 shares of company stock worth $45,897,071. Corporate insiders own 0.80% of the company’s stock.

Intuitive Surgical Profile

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.