Sandy Spring Bank Grows Position in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Sandy Spring Bank boosted its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 193.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,788 shares of the medical equipment provider’s stock after purchasing an additional 1,839 shares during the period. Sandy Spring Bank’s holdings in Intuitive Surgical were worth $1,462,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Icon Wealth Partners LLC purchased a new stake in Intuitive Surgical during the 1st quarter worth approximately $26,000. Manchester Financial Inc. purchased a new stake in shares of Intuitive Surgical in the 2nd quarter valued at $25,000. Advisory Alpha LLC purchased a new stake in shares of Intuitive Surgical in the 1st quarter valued at $32,000. Harvest Group Wealth Management LLC purchased a new stake in shares of Intuitive Surgical in the 1st quarter valued at $44,000. Finally, FTB Advisors Inc. boosted its holdings in shares of Intuitive Surgical by 333.3% in the 1st quarter. FTB Advisors Inc. now owns 78 shares of the medical equipment provider’s stock valued at $44,000 after acquiring an additional 60 shares during the last quarter. 86.09% of the stock is currently owned by institutional investors.

Shares of ISRG traded down $3.38 during trading hours on Thursday, hitting $497.08. The stock had a trading volume of 8,743 shares, compared to its average volume of 640,121. The business’s 50-day moving average is $524.60. Intuitive Surgical, Inc. has a fifty-two week low of $430.24 and a fifty-two week high of $589.32. The firm has a market cap of $58.77 billion, a price-to-earnings ratio of 52.69, a price-to-earnings-growth ratio of 3.79 and a beta of 1.12.

Intuitive Surgical (NASDAQ:ISRG) last posted its earnings results on Thursday, July 18th. The medical equipment provider reported $3.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $1.02. Intuitive Surgical had a net margin of 29.95% and a return on equity of 17.35%. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the business posted $2.76 EPS. The business’s revenue was up 20.9% compared to the same quarter last year. Equities research analysts forecast that Intuitive Surgical, Inc. will post 10.15 earnings per share for the current fiscal year.

In related news, SVP Reiter Kara Andersen sold 4,120 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $540.00, for a total value of $2,224,800.00. Following the completion of the transaction, the senior vice president now directly owns 7,838 shares in the company, valued at approximately $4,232,520. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Curet Myriam sold 4,974 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $532.14, for a total transaction of $2,646,864.36. Following the completion of the transaction, the executive vice president now owns 3,851 shares of the company’s stock, valued at $2,049,271.14. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,655 shares of company stock valued at $13,552,920. Company insiders own 1.70% of the company’s stock.

Several research firms have recently commented on ISRG. Raymond James dropped their price objective on shares of Intuitive Surgical from $630.00 to $610.00 and set an “outperform” rating on the stock in a report on Monday, April 22nd. Piper Jaffray Companies upped their price objective on shares of Intuitive Surgical from $610.00 to $633.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Citigroup dropped their price objective on shares of Intuitive Surgical from $611.00 to $575.00 and set a “buy” rating on the stock in a report on Tuesday, May 14th. BidaskClub raised shares of Intuitive Surgical from a “hold” rating to a “buy” rating in a report on Tuesday, June 11th. Finally, Morgan Stanley set a $620.00 price objective on shares of Intuitive Surgical and gave the company a “buy” rating in a report on Friday, July 19th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $579.92.

Intuitive Surgical Profile

Intuitive Surgical, Inc designs, manufactures, and markets da Vinci surgical systems, and related instruments and accessories. Its da Vinci Surgical System transforms the surgeon's natural hand movements outside the body into corresponding micro-movements inside the patient's body. The company's da Vinci Surgical System include surgeon's consoles, patient-side carts, 3-D vision systems, da Vinci skills simulators, da Vinci Xi integrated table motions, and Firefly fluorescence imaging products that enable surgeons to perform various surgical procedures, including gynecologic, urologic, general, cardiothoracic, and head and neck surgical procedures.

Further Reading: Market Timing

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Institutional Ownership by Quarter for Intuitive Surgical (NASDAQ:ISRG)

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